Rent vs Buy in Anderson, SC
Monthly cost of renting vs owning a median-priced home · 30-yr fixed, 20% down
Renting looks favorable in Anderson, SC
Price-to-rent ratio is 24.2 (under 15 favors buying, over 21 favors renting). Renting costs $947/mo; owning runs about $2,051/mo — $1,104/mo more to own.
| Monthly cost to own | Amount |
|---|---|
| Mortgage (P&I, 6.95% rate) | $1,456 |
| Property tax | $252 |
| Home insurance | $115 |
| Maintenance | $229 |
| Total to own | $2,051 |
| Average 2BR rent | $947 |
Based on a median home value of $274,865 with a $54,973 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.