Rent vs Buy in Albany, GA
Monthly cost of renting vs owning a median-priced home · 30-yr fixed, 20% down
Buying looks favorable in Albany, GA
Price-to-rent ratio is 10.3 (under 15 favors buying, over 21 favors renting). Renting costs $1,080/mo; owning runs about $992/mo — $88/mo less to own.
| Monthly cost to own | Amount |
|---|---|
| Mortgage (P&I, 6.95% rate) | $704 |
| Property tax | $122 |
| Home insurance | $55 |
| Maintenance | $111 |
| Total to own | $992 |
| Average 2BR rent | $1,080 |
Based on a median home value of $132,944 with a $26,589 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.