Rent vs buy in Augusta, GA

A typical home in Augusta, Georgia costs $187,663, while typical rent is $1,344 /mo.

Buy

Over 7 years, buying comes out $27k ahead

Using 20% down, Augusta's typical rent and home value, plus today's mortgage rate. Break-even point: year 4.

An opinion, clearly labeled, with the math shown. These figures are estimates, not quotes. Adjust a number, and the stamp adjusts with it.

Owning leads by: $27k
Break-even point: year 4
Actual cost of owning: $1,684 /mo

Change my numbers

Augusta's figures, the typical rent and home value, drive what the stamp shows. The rent, the price and the number of years you put in can flip the result.

Are your figures different from the city's?

Enter a rent, price and down payment of your own. The stamp changes when those numbers change.

Is it cheaper to rent or buy in Augusta?

Over 7 years, buying costs $26,578 less when you include the money returned after the sale. In year 4, owning's net cost falls below renting's and remains lower.

Renting. Owning. Net cost so far, listed by year.

Average rent compared with mortgage payment in Augusta

Rent and the mortgage don't tell the whole story. Here's every monthly cost for year 1 at Augusta's typical price.

Each month, year 1	Amount	What it is
Rent	$1,344	All of it, every month
Mortgage payment	$1,023	$902 of it is interest in year 1
Property tax	$133	0.85% of the value a year
Insurance	$110	Census median for the city
Upkeep	$156	1% of the value a year
Owning, cash out	$1,422	$121 of it builds equity
Lost return on the down payment	$305	At 8.3% a year, that's what the cash could earn.
Buying costs, spread out	$78	3.5% of the price over 7 years
True cost of owning	$1,684	Cash out, with the equity portion removed and both items above added.

The data behind Augusta's verdict

Typical home value Zillow ZHVI, September 2026: $187,663
Typical rent from Zillow ZORI, September 2026: $1,344 /mo
A 20% down payment avoids private mortgage insurance, but the engine does not model it: 20%
Mortgage rate: Freddie Mac Primary Mortgage Market Survey (FRED MORTGAGE30US): 7.24%
Growth for home prices: FHFA house price index, Georgia, 1995 through 2025: 4.4% per year
Rent growth: CPI primary residence rent, yearly change 2006 to 2026: 3.5% per year
Savings growth rate: 60% S&P 500 (dividends included) and 40% 10-year Treasuries, with yearly rebalancing, 1928 to 2025: Annual rate: 8.3%
Property tax: Census ACS 2020-2024, Augusta: A rate of 0.85% applies to the value
Home insurance: Census ACS 2020-2024, Augusta: $110 /mo
Upkeep: Fannie Mae, low end of 1% to 4%: Each year, 1% of value
Purchase costs: Freddie Mac, middle of 2% to 5%: A rate of 3.5% applies to the price
Selling costs: Agent commission plus closing costs: A rate of 6% applies to the price

What would flip the result in Augusta?

With every other factor held as it is, each line identifies where Augusta's 7-year verdict switches.

Renting is better when

Annual home price growth is under 2.5%. Our calculation uses 4.4%, Georgia's long-run rate.
For a mortgage, the rate stays above 9.73%.
A similar home rents for under $1,060 a month (the typical rate here is $1,344).
Before year 4, you move.

Conditions for buying to win

Home prices rise by more than 2.5% a year.
You secure a mortgage rate under 9.73% (today's rate is 7.24%).
The same home would cost more than $1,060 a month to rent.
You remain for 4 years or longer.

Augusta compared with the other 812 cities

Measure	Augusta	Median city
Typical home value	$187,663	$422,451
Typical rent	$1,344 /mo	$1,837 /mo
Price-to-rent ratio	11.6 (#770 of 813)	18.5
Home prices, last 10 years	7.1% a year	6.2% a year
Rents, last 5 years	4.4% a year	4% a year
Property tax	0.85%	0.87%
Households that rent	49%	42%

Sources: Zillow data: ZHVI and ZORI, Census ACS 2020-2024.

Cities besides Augusta in Georgia

Toss-up. Savannah, GA. Renting leads by $1k in a close result.
Rent. Roswell, GA. Renting is ahead by $159k.

Georgia rent vs buy: numbers for the state