Rent vs Buy in Rochester, NY
Monthly cost of renting vs owning a median-priced home · 30-yr fixed, 20% down
Buying looks favorable in Rochester, NY
Price-to-rent ratio is 14.5 (under 15 favors buying, over 21 favors renting). Renting costs $1,427/mo; owning runs about $1,850/mo — $423/mo more to own.
| Monthly cost to own | Amount |
|---|---|
| Mortgage (P&I, 6.95% rate) | $1,313 |
| Property tax | $227 |
| Home insurance | $103 |
| Maintenance | $207 |
| Total to own | $1,850 |
| Average 2BR rent | $1,427 |
Based on a median home value of $247,928 with a $49,586 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.