Rent vs Buy in California, MD
Monthly cost of renting vs owning a median-priced home · 30-yr fixed, 20% down
Rent and buy are roughly balanced in California, MD
Price-to-rent ratio is 18.3 (under 15 favors buying, over 21 favors renting). Renting costs $1,831/mo; owning runs about $2,996/mo — $1,165/mo more to own.
| Monthly cost to own | Amount |
|---|---|
| Mortgage (P&I, 6.95% rate) | $2,126 |
| Property tax | $368 |
| Home insurance | $167 |
| Maintenance | $335 |
| Total to own | $2,996 |
| Average 2BR rent | $1,831 |
Based on a median home value of $401,539 with a $80,308 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.