Rent vs Buy in Lawrence, KS
Monthly cost of renting vs owning a median-priced home · 30-yr fixed, 20% down
Renting looks favorable in Lawrence, KS
Price-to-rent ratio is 24.7 (under 15 favors buying, over 21 favors renting). Renting costs $1,138/mo; owning runs about $2,522/mo — $1,384/mo more to own.
| Monthly cost to own | Amount |
|---|---|
| Mortgage (P&I, 6.95% rate) | $1,790 |
| Property tax | $310 |
| Home insurance | $141 |
| Maintenance | $282 |
| Total to own | $2,522 |
| Average 2BR rent | $1,138 |
Based on a median home value of $337,937 with a $67,587 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.