Is It Worth Buying a Home in Fresno, CA?
The decision to rent or buy in Fresno, California depends on how long you plan to stay, your down payment, and current mortgage rates. With a median home price of $345,000 and median monthly rent of $1,600, the math plays out differently depending on your personal situation.
Fresno has an average property tax rate of 0.73% annually, which adds approximately $210/month to the cost of homeownership on a median-priced home.
Historically, home values in Fresno have appreciated at roughly 3.5% per year, which works in favor of buyers who plan to stay long-term. Use the calculator above to find your personal break-even point.
Key Factors for Fresno Buyers
- Down payment of 20% on a median home = $69,000
- Monthly mortgage (30yr at 6.99%) ≈ $1,834/mo
- Property tax ≈ $210/mo
- Estimated maintenance ≈ $288/mo