Rent vs Buy in San Luis Obispo, CA
Monthly cost of renting vs owning a median-priced home · 30-yr fixed, 20% down
Renting looks favorable in San Luis Obispo, CA
Price-to-rent ratio is 37.8 (under 15 favors buying, over 21 favors renting). Renting costs $2,434/mo; owning runs about $8,231/mo — $5,797/mo more to own.
| Monthly cost to own | Amount |
|---|---|
| Mortgage (P&I, 6.95% rate) | $5,841 |
| Property tax | $1,011 |
| Home insurance | $460 |
| Maintenance | $919 |
| Total to own | $8,231 |
| Average 2BR rent | $2,434 |
Based on a median home value of $1,103,077 with a $220,615 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.