Rent vs Buy in Daphne, AL
Monthly cost of renting vs owning a median-priced home · 30-yr fixed, 20% down
Renting looks favorable in Daphne, AL
Price-to-rent ratio is 22.2 (under 15 favors buying, over 21 favors renting). Renting costs $1,244/mo; owning runs about $2,468/mo — $1,224/mo more to own.
| Monthly cost to own | Amount |
|---|---|
| Mortgage (P&I, 6.95% rate) | $1,751 |
| Property tax | $303 |
| Home insurance | $138 |
| Maintenance | $276 |
| Total to own | $2,468 |
| Average 2BR rent | $1,244 |
Based on a median home value of $330,724 with a $66,145 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.