Rent vs Buy in Madera, CA
Monthly cost of renting vs owning a median-priced home · 30-yr fixed, 20% down
Renting looks favorable in Madera, CA
Price-to-rent ratio is 24.8 (under 15 favors buying, over 21 favors renting). Renting costs $1,433/mo; owning runs about $3,177/mo — $1,744/mo more to own.
| Monthly cost to own | Amount |
|---|---|
| Mortgage (P&I, 6.95% rate) | $2,254 |
| Property tax | $390 |
| Home insurance | $177 |
| Maintenance | $355 |
| Total to own | $3,177 |
| Average 2BR rent | $1,433 |
Based on a median home value of $425,678 with a $85,136 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.