Rent vs Buy in Dothan, AL
Monthly cost of renting vs owning a median-priced home · 30-yr fixed, 20% down
Rent and buy are roughly balanced in Dothan, AL
Price-to-rent ratio is 19.4 (under 15 favors buying, over 21 favors renting). Renting costs $896/mo; owning runs about $1,555/mo — $659/mo more to own.
| Monthly cost to own | Amount |
|---|---|
| Mortgage (P&I, 6.95% rate) | $1,104 |
| Property tax | $191 |
| Home insurance | $87 |
| Maintenance | $174 |
| Total to own | $1,555 |
| Average 2BR rent | $896 |
Based on a median home value of $208,403 with a $41,681 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.