It seems likely that at least one of these active listings at Avalon Woods could be purchased for $130,000 -- and I know of several townhouses that have recently been rented for $875/month in Avalon Woods.  As you can see above, this tips the scales towards owning a home being the more affordable option on a monthly basis.



Of further interest, is that of that $791 monthly payment, a full $189 goes towards the principal of your mortgage -- thus you're paying down over $2,000 of that mortgage debt in the first year alone.

Certainly, there are other upfront costs (closing costs, down payment) that you will have when buying --- but it is once again an exciting time for first time buyers when you can potentially reduce your monthly housing budget through buying a home.