Rent vs Buy in Johnson City, TN
Monthly cost of renting vs owning a median-priced home · 30-yr fixed, 20% down
Renting looks favorable in Johnson City, TN
Price-to-rent ratio is 22.1 (under 15 favors buying, over 21 favors renting). Renting costs $1,119/mo; owning runs about $2,212/mo — $1,093/mo more to own.
| Monthly cost to own | Amount |
|---|---|
| Mortgage (P&I, 6.95% rate) | $1,570 |
| Property tax | $272 |
| Home insurance | $124 |
| Maintenance | $247 |
| Total to own | $2,212 |
| Average 2BR rent | $1,119 |
Based on a median home value of $296,489 with a $59,298 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.