Rent vs Buy in Watertown, NY
Monthly cost of renting vs owning a median-priced home · 30-yr fixed, 20% down
Buying looks favorable in Watertown, NY
Price-to-rent ratio is 13.2 (under 15 favors buying, over 21 favors renting). Renting costs $1,282/mo; owning runs about $1,518/mo — $236/mo more to own.
| Monthly cost to own | Amount |
|---|---|
| Mortgage (P&I, 6.95% rate) | $1,078 |
| Property tax | $187 |
| Home insurance | $85 |
| Maintenance | $170 |
| Total to own | $1,518 |
| Average 2BR rent | $1,282 |
Based on a median home value of $203,480 with a $40,696 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.