Rent vs Buy in Cumberland, MD
Monthly cost of renting vs owning a median-priced home · 30-yr fixed, 20% down
Buying looks favorable in Cumberland, MD
Price-to-rent ratio is 14.1 (under 15 favors buying, over 21 favors renting). Renting costs $933/mo; owning runs about $1,182/mo — $249/mo more to own.
| Monthly cost to own | Amount |
|---|---|
| Mortgage (P&I, 6.95% rate) | $838 |
| Property tax | $145 |
| Home insurance | $66 |
| Maintenance | $132 |
| Total to own | $1,182 |
| Average 2BR rent | $933 |
Based on a median home value of $158,331 with a $31,666 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.