Rent vs Buy in Prescott Valley, AZ
Monthly cost of renting vs owning a median-priced home · 30-yr fixed, 20% down
Renting looks favorable in Prescott Valley, AZ
Price-to-rent ratio is 23.9 (under 15 favors buying, over 21 favors renting). Renting costs $1,606/mo; owning runs about $3,443/mo — $1,837/mo more to own.
| Monthly cost to own | Amount |
|---|---|
| Mortgage (P&I, 6.95% rate) | $2,443 |
| Property tax | $423 |
| Home insurance | $192 |
| Maintenance | $384 |
| Total to own | $3,443 |
| Average 2BR rent | $1,606 |
Based on a median home value of $461,393 with a $92,279 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.