Rent vs Buy in Toledo, OH
Monthly cost of renting vs owning a median-priced home · 30-yr fixed, 20% down
Buying looks favorable in Toledo, OH
Price-to-rent ratio is 9.6 (under 15 favors buying, over 21 favors renting). Renting costs $1,145/mo; owning runs about $1,000/mo — $145/mo less to own.
| Monthly cost to own | Amount |
|---|---|
| Mortgage (P&I, 7.18% rate) | $714 |
| Property tax | $121 |
| Home insurance | $55 |
| Maintenance | $110 |
| Total to own | $1,000 |
| Average 2BR rent | $1,145 |
Based on a median home value of $131,766 with a $26,353 down payment. Owning also builds equity over time, which a monthly comparison doesn't capture. Estimates use national averages for taxes, insurance and maintenance — your actual costs will vary.