Rent vs Buy in El Paso, TX
Monthly cost of renting vs owning a median-priced home · 30-yr fixed, 20% down
Rent and buy are roughly balanced in El Paso, TX
Price-to-rent ratio is 16.6 (under 15 favors buying, over 21 favors renting). Renting costs $1,192/mo; owning runs about $1,771/mo — $579/mo more to own.
| Monthly cost to own | Amount |
|---|---|
| Mortgage (P&I, 6.95% rate) | $1,257 |
| Property tax | $218 |
| Home insurance | $99 |
| Maintenance | $198 |
| Total to own | $1,771 |
| Average 2BR rent | $1,192 |
Based on a median home value of $237,327 with a $47,465 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.