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Here's how much more it costs to buy a home than rent in all 50 states

There's no getting around it: Owning a home costs more each month than renting across all 50 states.

That being said, depending on your situation, buying a home can be a smart investment. You'll just want to weigh the pros and cons of home-ownership first.

To help you make the decision, CNBC rounded up the price gap between owning and renting, using data collected by cost information site Howmuch.net.

Here's how much more it costs to own then rent in all 50 states. States are listed in descending order of price difference.

New Jersey

Monthly payment with a mortgage: $2,349
Monthly rent: $1,214
Price difference: $1,135

Jersey City, New Jersey
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Jersey City, New Jersey

Connecticut

Monthly payment with a mortgage: $2,020
Monthly rent: $1,108
Price difference: $912

Hartford, Connecticut, is teetering on the brink of bankruptcy, with a projected $2.7 billion deficit for the new fiscal year, beginning July 1.
Sean Pavone Photo | iStock | Getty Images
Hartford, Connecticut, is teetering on the brink of bankruptcy, with a projected $2.7 billion deficit for the new fiscal year, beginning July 1.

Washington, D.C.

Monthly payment with a mortgage: $2,312
Monthly rent: $1,417
Price difference: $895

Washington, DC
Danita Delimont | Getty Images
Washington, DC

Massachusetts

Monthly payment with a mortgage: $2,048
Monthly rent: $1,164
Price difference: $884

Boston, Massachusetts
Mare Magnum | Getty Images
Boston, Massachusetts

New York

Monthly payment with a mortgage: $2,009
Monthly rent: $1,173
Price difference: $836

New York, New York
Jean-Pierre Lescourret | Lonely Planet | Getty Images
New York, New York

California

Monthly payment with a mortgage: $2,123
Monthly rent: $1,311
Price difference: $812

San Francisco, California
Gavin Hellier | Getty Images
San Francisco, California

New Hampshire

Monthly payment with a mortgage: $1,828
Monthly rent: $1,017
Price difference: $811

Portsmouth, New Hampshire
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Portsmouth, New Hampshire

Rhode Island

Monthly payment with a mortgage: $1,730
Monthly rent: $938
Price difference: $792

Providence, Rhode Island
Jeff Greenberg | UIG | Getty Images
Providence, Rhode Island

Hawaii

Monthly payment with a mortgage: $2,248
Monthly rent: $1,500
Price difference: $748

Oahu, Hawaii
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Oahu, Hawaii

Alaska

Monthly payment with a mortgage: $1,817
Monthly rent: $1,163
Price difference: $654

Anchorage, Alaska
David Ryder | Bloomberg | Getty Images
Anchorage, Alaska

Illinois

Monthly payment with a mortgage: $1,588
Monthly rent: $936
Price difference: $652

People walk on the pedestrian bridge through Millennium Park in Chicago.
George Rose | Getty Images
People walk on the pedestrian bridge through Millennium Park in Chicago.

Maryland

Monthly payment with a mortgage: $1,909
Monthly rent: $1,278
Price difference: $631

Downtown Baltimore, Maryland
Greg Pease | Getty Images
Downtown Baltimore, Maryland

Washington

Monthly payment with a mortgage: $1,704
Monthly rent: $1,080
Price difference: $624

Belltown, Seattle neighborhood
Richard Cummins | Getty Images
Belltown, Seattle neighborhood

Vermont

Monthly payment with a mortgage: $1,530
Monthly rent: $923
Price difference: $607

Burlington, Vermont
Glenn Van Der Knijff | Getty Images
Burlington, Vermont

Oregon

Monthly payment with a mortgage: $1,534
Monthly rent: $943
Price difference: $591

Beaverton, Oregon
Source: Town of Beaverton
Beaverton, Oregon

Minnesota

Monthly payment with a mortgage: $1,459
Monthly rent: $888
Price difference: $571

An early morning jog around Lake Calhoun, Minneapolis/St. Paul Minnesota.
John Elk | Getty Images
An early morning jog around Lake Calhoun, Minneapolis/St. Paul Minnesota.

Wisconsin

Monthly payment with a mortgage: $1,359
Monthly rent: $792
Price difference: $567

Madison, Wisconsin
Greater Madison Convention & Visitors Bureau
Madison, Wisconsin

Montana

Monthly payment with a mortgage: $1,316
Monthly rent: $763
Price difference: $553

Helena, Montana
John Elk | Getty Images
Helena, Montana

South Dakota

Monthly payment with a mortgage: $1,225
Monthly rent: $675
Price difference: $550

South Dakota Capitol Building in Pierre
Richard Cummins | Getty Images
South Dakota Capitol Building in Pierre

Wyoming

Monthly payment with a mortgage: $1,364
Monthly rent: $815
Price difference: $549

In Teton County, home to the famed Jackson Hole ski resort, the average income of a member of the top 1% tops $28 million
WitGorski | Getty Images
In Teton County, home to the famed Jackson Hole ski resort, the average income of a member of the top 1% tops $28 million

Virginia

Monthly payment with a mortgage: $1,692
Monthly rent: $1,144
Price difference: $548

Richmond, Virginia.
Jeff Auth | Getty Images
Richmond, Virginia.

Maine

Monthly payment with a mortgage: $1,340
Monthly rent: $792
Price difference: $548

Portland, Maine
Denis Jr. Tangney | E+ | Getty Images
Portland, Maine

Pennsylvania

Monthly payment with a mortgage: $1,414
Monthly rent: $868
Price difference: $546

Philadelphia skyline
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Philadelphia skyline

North Dakota

Monthly payment with a mortgage: $1,297
Monthly rent: $775
Price difference: $522

Fargo, North Dakota
Richard Cummins | Getty Images
Fargo, North Dakota

Texas

Monthly payment with a mortgage: $1,453
Monthly rent: $932
Price difference: $521

Kayaking in Austin, Texas.
David Kozlowski | Getty Images
Kayaking in Austin, Texas.

Nebraska

Monthly payment with a mortgage: $1,269
Monthly rent: $750
Price difference: $519

Lincoln, Nebraska
Lonely Planet
Lincoln, Nebraska

Kansas

Monthly payment with a mortgage: $1,279
Monthly rent: $782
Price difference: $497

Wichita, Kansas
Davel5957 | Getty Images
Wichita, Kansas

Utah

Monthly payment with a mortgage: $1,408
Monthly rent: $925
Price difference: $483

A scene showing 25th Street in Ogden, Utah.
Mandicoleman.com | Getty Images
A scene showing 25th Street in Ogden, Utah.

Ohio

Monthly payment with a mortgage: $1,228
Monthly rent: $746
Price difference: $482

Columbus, Ohio
LarryKnupp | Getty Images
Columbus, Ohio

Delaware

Monthly payment with a mortgage: $1,506
Monthly rent: $1,049
Price difference: $457

Wilmington, Delaware
Walter Bibikow | Getty Images
Wilmington, Delaware

Iowa

Monthly payment with a mortgage: $1,170
Monthly rent: $718
Price difference: $452

West Des Moines, Iowa
Source: Ryan Donnell | MONEY
West Des Moines, Iowa

Colorado

Monthly payment with a mortgage: $1,558
Monthly rent: $1,111
Price difference: $447

Cripple Creek, Colorado
John Greim | LightRocket | Getty Images
Cripple Creek, Colorado

Missouri

Monthly payment with a mortgage: $1,200
Monthly rent: $763
Price difference: $437

St. Louis, Missouri
Joe Sohm | Visions of America | Photodisc | Getty Images
St. Louis, Missouri

New Mexico

Monthly payment with a mortgage: $1,214
Monthly rent: $783
Price difference: $431

Albuquerque, New Mexico
Richard Cummins | Lonely Planet Images | Getty Images
Albuquerque, New Mexico

Louisiana

Monthly payment with a mortgage: $1,219
Monthly rent: $800
Price difference: $419

Shreveport, Louisiana
McFarlandPhoto | Getty Images
Shreveport, Louisiana

Michigan

Monthly payment with a mortgage: $1,220
Monthly rent: $803
Price difference: $417

Detroit, Michigan
Joshua Lott | AFP | Getty Images
Detroit, Michigan

Nevada

Monthly payment with a mortgage: $1,396
Monthly rent: $980
Price difference: $416

A time exposure of traffic along the Las Vegas Strip is viewed from Caesars Palace on May 19, 2015.
George Rose | Getty Images
A time exposure of traffic along the Las Vegas Strip is viewed from Caesars Palace on May 19, 2015.

North Carolina

Monthly payment with a mortgage: $1,234
Monthly rent: $827
Price difference: $407

Charlotte, North Carolina
Skyhobo | Getty Images
Charlotte, North Carolina

Idaho

Monthly payment with a mortgage: $1,170
Monthly rent: $770
Price difference: $400

Boise, Idaho
Anna Gorin | Getty Images
Boise, Idaho

Oklahoma

Monthly payment with a mortgage: $1,159
Monthly rent: $759
Price difference: $400

Tulsa, Oklahoma
Walter Bibikow | Getty Images
Tulsa, Oklahoma

Alabama

Monthly payment with a mortgage: $1,124
Monthly rent: $729
Price difference: $395

Mobile, Alabama
Kathy Hicks | Getty Images
Mobile, Alabama

Georgia

Monthly payment with a mortgage: $1,299
Monthly rent: $909
Price difference: $390

Atlanta reflected in the lake of Piedmont Park.
Giorgio Fochesato | Getty Images
Atlanta reflected in the lake of Piedmont Park.

Kentucky

Monthly payment with a mortgage: $1,089
Monthly rent: $702
Price difference: $387

Louisville, Kentucky
Raymond Boyd | Getty Images
Louisville, Kentucky

Arizona

Monthly payment with a mortgage: $1,319
Monthly rent: $933
Price difference: $386

Tucson, Arizona
Getty Images
Tucson, Arizona

Tennessee

Monthly payment with a mortgage: $1,167
Monthly rent: $785
Price difference: $382

People in Market Square on market day in Knoxville, Tennessee.
Csfotoimages | Getty Images
People in Market Square on market day in Knoxville, Tennessee.

Mississippi

Monthly payment with a mortgage: $1,083
Monthly rent: $724
Price difference: $359

Madison is part of the Jackson metro area in Mississippi
Dosfotos | Design Pics | Getty Images
Madison is part of the Jackson metro area in Mississippi

South Carolina

Monthly payment with a mortgage: $1,168
Monthly rent: $819
Price difference: $349

Charleston, South Carolina
Stephen Saks | Lonely Planet Images | Getty Images
Charleston, South Carolina

Florida

Monthly payment with a mortgage: $1,394
Monthly rent: $1,046
Price difference: $348

Condo buildings line the beach in Sunny Isle, Florida.
Getty Images
Condo buildings line the beach in Sunny Isle, Florida.

Arkansas

Monthly payment with a mortgage: $1,029
Monthly rent: $695
Price difference: $334

Hot Springs, Arkansas
Ionas Kaltenbach | Lonely Planet Images | Getty Images
Hot Springs, Arkansas

Indiana

Monthly payment with a mortgage: $1,089
Monthly rent: $758
Price difference: $331

Downtown Indianapolis
Education Images | UIG | Getty Images
Downtown Indianapolis

West Virginia

Monthly payment with a mortgage: $972
Monthly rent: $675
Price difference: $297

West Virginia Capital Building.
Jodi Jacobson | E+ | Getty Images
West Virginia Capital Building.