Rent vs Buy in Columbia, MO
Monthly cost of renting vs owning a median-priced home · 30-yr fixed, 20% down
Renting looks favorable in Columbia, MO
Price-to-rent ratio is 27.1 (under 15 favors buying, over 21 favors renting). Renting costs $1,007/mo; owning runs about $2,446/mo — $1,439/mo more to own.
| Monthly cost to own | Amount |
|---|---|
| Mortgage (P&I, 6.95% rate) | $1,736 |
| Property tax | $300 |
| Home insurance | $137 |
| Maintenance | $273 |
| Total to own | $2,446 |
| Average 2BR rent | $1,007 |
Based on a median home value of $327,788 with a $65,558 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.