Rent vs Buy in Olympia, WA
Monthly cost of renting vs owning a median-priced home · 30-yr fixed, 20% down
Renting looks favorable in Olympia, WA
Price-to-rent ratio is 24.4 (under 15 favors buying, over 21 favors renting). Renting costs $1,843/mo; owning runs about $4,019/mo — $2,176/mo more to own.
| Monthly cost to own | Amount |
|---|---|
| Mortgage (P&I, 6.95% rate) | $2,852 |
| Property tax | $494 |
| Home insurance | $224 |
| Maintenance | $449 |
| Total to own | $4,019 |
| Average 2BR rent | $1,843 |
Based on a median home value of $538,643 with a $107,729 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.