Rent vs Buy in Sumter, SC
Monthly cost of renting vs owning a median-priced home · 30-yr fixed, 20% down
Buying looks favorable in Sumter, SC
Price-to-rent ratio is 14.7 (under 15 favors buying, over 21 favors renting). Renting costs $1,224/mo; owning runs about $1,611/mo — $387/mo more to own.
| Monthly cost to own | Amount |
|---|---|
| Mortgage (P&I, 6.95% rate) | $1,144 |
| Property tax | $198 |
| Home insurance | $90 |
| Maintenance | $180 |
| Total to own | $1,611 |
| Average 2BR rent | $1,224 |
Based on a median home value of $215,942 with a $43,188 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.