Rent vs Buy in Kingsport, TN
Monthly cost of renting vs owning a median-priced home · 30-yr fixed, 20% down
Rent and buy are roughly balanced in Kingsport, TN
Price-to-rent ratio is 20.6 (under 15 favors buying, over 21 favors renting). Renting costs $1,043/mo; owning runs about $1,920/mo — $877/mo more to own.
| Monthly cost to own | Amount |
|---|---|
| Mortgage (P&I, 6.95% rate) | $1,363 |
| Property tax | $236 |
| Home insurance | $107 |
| Maintenance | $214 |
| Total to own | $1,920 |
| Average 2BR rent | $1,043 |
Based on a median home value of $257,361 with a $51,472 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.