Rent vs Buy in Fresno, CA
Monthly cost of renting vs owning a median-priced home · 30-yr fixed, 20% down
Renting looks favorable in Fresno, CA
Price-to-rent ratio is 21.7 (under 15 favors buying, over 21 favors renting). Renting costs $1,505/mo; owning runs about $2,920/mo — $1,415/mo more to own.
| Monthly cost to own | Amount |
|---|---|
| Mortgage (P&I, 6.95% rate) | $2,072 |
| Property tax | $359 |
| Home insurance | $163 |
| Maintenance | $326 |
| Total to own | $2,920 |
| Average 2BR rent | $1,505 |
Based on a median home value of $391,319 with a $78,264 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.