Rent vs Buy in Charlotte, NC
Monthly cost of renting vs owning a median-priced home · 30-yr fixed, 20% down
Rent and buy are roughly balanced in Charlotte, NC
Price-to-rent ratio is 18.3 (under 15 favors buying, over 21 favors renting). Renting costs $1,824/mo; owning runs about $2,986/mo — $1,162/mo more to own.
| Monthly cost to own | Amount |
|---|---|
| Mortgage (P&I, 6.95% rate) | $2,119 |
| Property tax | $367 |
| Home insurance | $167 |
| Maintenance | $333 |
| Total to own | $2,986 |
| Average 2BR rent | $1,824 |
Based on a median home value of $400,096 with a $80,019 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.