Rent vs Buy in Tyler, TX
Monthly cost of renting vs owning a median-priced home · 30-yr fixed, 20% down
Rent and buy are roughly balanced in Tyler, TX
Price-to-rent ratio is 15.9 (under 15 favors buying, over 21 favors renting). Renting costs $1,333/mo; owning runs about $1,897/mo — $564/mo more to own.
| Monthly cost to own | Amount |
|---|---|
| Mortgage (P&I, 6.95% rate) | $1,347 |
| Property tax | $233 |
| Home insurance | $106 |
| Maintenance | $212 |
| Total to own | $1,897 |
| Average 2BR rent | $1,333 |
Based on a median home value of $254,271 with a $50,854 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.