Rent vs Buy Calculator
Make informed housing decisions by comparing the total costs of renting versus buying over time. Factor in mortgage payments, property taxes, maintenance, and investment opportunities.
Quick Start Scenarios
Recommendation
Renting saves you $16,685 over 5 years.
After 5 years, renting provides more in net worth through investing the difference.
Break-even point: 14.5 years
Net Costs Over Years
Monthly Cost Comparison
Renting
Monthly total
Buying
Monthly total
Monthly Difference
Buying costs more
5-Year Financial Impact
Total Costs Over 5 Years
Renting
Buying
Home Value & Equity
Estimated Home Value
After 5 years
Your Home Equity
Down payment + principal paid
Equity built21.1%
Key Factors
Down Payment:$80,000
Loan Amount:$320,000
Monthly Mortgage:$2,023
Interest Rate:6.5%
Property Tax:$4,800/year
Important Considerations
Lifestyle Factors
Consider job stability, family plans, and desire for mobility when making your decision.
Market Conditions
Local real estate trends, interest rates, and rental markets can significantly impact the analysis.
Hidden Costs
Remember to factor in closing costs, moving expenses, and unexpected repairs or maintenance.