Rent vs Buy in Grand Junction, CO
Monthly cost of renting vs owning a median-priced home · 30-yr fixed, 20% down
Renting looks favorable in Grand Junction, CO
Price-to-rent ratio is 28.6 (under 15 favors buying, over 21 favors renting). Renting costs $1,245/mo; owning runs about $3,193/mo — $1,948/mo more to own.
| Monthly cost to own | Amount |
|---|---|
| Mortgage (P&I, 6.95% rate) | $2,266 |
| Property tax | $392 |
| Home insurance | $178 |
| Maintenance | $357 |
| Total to own | $3,193 |
| Average 2BR rent | $1,245 |
Based on a median home value of $427,867 with a $85,573 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.