Apartments for Rent in Medford, OR - Home Rentals | realtor.com® (2024)

FAQs

Why is renting an apartment usually cheaper than buying a house responses? ›

In reality, renting is often cheaper than buying a house due to several factors such as property taxes, maintenance costs, and insurance. Homeowners are responsible for property taxes, which can be a significant expense, while renters are generally not burdened with this cost.

The Best of Medford includes a vibrant downtown area, modern shopping centers, and residential neighborhoods with stunning views of the Siskiyou Mountains. One of the main attractions in the Medford, Oregon, area is the Rogue River, which offers impressive white water rafting, fishing, boating, and other water sports.

A common rule of thumb is if you plan to stay in the home for five to seven years, buying is a good option. Anything shorter than that may make it a less optimal investment. Stage of life is another significant lifestyle factor to consider.

It's cheaper to rent than to buy in all of the top 50 metros. The typical monthly mortgage payment of a median-priced home ($412,778, per Redfin) in the U.S. is $2,703, while the national typical monthly rent is $1,979 as of February — a 36.6 percent difference.

This year, homelessness remains a major concern for residents and the city council can explain the efforts made to combat the housing crisis since citizens voiced their concerns in 2023.

About. In 2022, Medford, OR had a population of 85.5k people with a median age of 38.1 and a median household income of $65,647. Between 2021 and 2022 the population of Medford, OR grew from 84,894 to 85,539, a 0.76% increase and its median household income grew from $57,424 to $65,647, a 14.3% increase.

Good landlords have consideration and empathy for their renters and are mindful of potential issues that may arise. They keep the lines of communication open and work to maintain good relationships, while also respecting tenant privacy and boundaries.

What makes me a good tenant? ›

The ability and willingness to: pay rent, care for the rental property, avoid creating disturbances, and avoid drama. Good tenants care enough to at least try to make a good impression. They are friendly, show up on time, display some level of excitement for the rental property, and are respectful to the landlord.

Expert-Verified Answer

apartments are usually smaller than houses. Renting an apartment is usually cheaper than buying a house because apartments are generally smaller and come with fewer financial responsibilities, such as property taxes and maintenance costs.

Unlike homeowners, renters have no maintenance costs or repair bills and they don't have to pay property taxes. Amenities that are generally free for renters aren't for homeowners, who have to pay for installation and maintenance.

Buying a home allows you to build equity over time. Unlike renting, where your monthly payments go toward the landlord's investment, each mortgage payment contributes to your ownership stake in the property. Over the years, this can result in significant equity that can be tapped into for future financial needs.

Cons of Buying a Home:

A home is not a liquid asset. This means that if you ever plan on selling your property, it may not be as quick of a process as you expect. Although you don't have to pay rent every month, property taxes can go up. You can lose the value of your property over time instead of gaining it.