Rent vs Buy in Middlesex, NJ
Monthly cost of renting vs owning a median-priced home · 30-yr fixed, 20% down
Renting looks favorable in Middlesex, NJ
Price-to-rent ratio is 21.1 (under 15 favors buying, over 21 favors renting). Renting costs $2,176/mo; owning runs about $4,119/mo — $1,943/mo more to own.
| Monthly cost to own | Amount |
|---|---|
| Mortgage (P&I, 6.95% rate) | $2,923 |
| Property tax | $506 |
| Home insurance | $230 |
| Maintenance | $460 |
| Total to own | $4,119 |
| Average 2BR rent | $2,176 |
Based on a median home value of $551,963 with a $110,393 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.