Rent vs Buy in Tacoma, WA
Monthly cost of renting vs owning a median-priced home · 30-yr fixed, 20% down
Rent and buy are roughly balanced in Tacoma, WA
Price-to-rent ratio is 20.2 (under 15 favors buying, over 21 favors renting). Renting costs $2,057/mo; owning runs about $3,721/mo — $1,664/mo more to own.
| Monthly cost to own | Amount |
|---|---|
| Mortgage (P&I, 6.95% rate) | $2,641 |
| Property tax | $457 |
| Home insurance | $208 |
| Maintenance | $416 |
| Total to own | $3,721 |
| Average 2BR rent | $2,057 |
Based on a median home value of $498,674 with a $99,735 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.