Rent vs Buy in New Bedford, MA
Monthly cost of renting vs owning a median-priced home · 30-yr fixed, 20% down
Renting looks favorable in New Bedford, MA
Price-to-rent ratio is 25.6 (under 15 favors buying, over 21 favors renting). Renting costs $1,448/mo; owning runs about $3,321/mo — $1,873/mo more to own.
| Monthly cost to own | Amount |
|---|---|
| Mortgage (P&I, 6.95% rate) | $2,356 |
| Property tax | $408 |
| Home insurance | $185 |
| Maintenance | $371 |
| Total to own | $3,321 |
| Average 2BR rent | $1,448 |
Based on a median home value of $444,977 with a $88,995 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.