Rent vs Buy in Pensacola, FL
Monthly cost of renting vs owning a median-priced home · 30-yr fixed, 20% down
Buying looks favorable in Pensacola, FL
Price-to-rent ratio is 13.9 (under 15 favors buying, over 21 favors renting). Renting costs $1,605/mo; owning runs about $1,993/mo — $388/mo more to own.
| Monthly cost to own | Amount |
|---|---|
| Mortgage (P&I, 6.95% rate) | $1,415 |
| Property tax | $245 |
| Home insurance | $111 |
| Maintenance | $223 |
| Total to own | $1,993 |
| Average 2BR rent | $1,605 |
Based on a median home value of $267,121 with a $53,424 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.