Rent vs Buy Calculator
See the full cost comparison so the decision is based on numbers, not guesswork.
What This Calculator Does
Runs a side-by-side comparison of total renting and buying costs across the time horizon you choose, accounting for annual rent increases, mortgage insurance, the ownership costs you enter, and the equity recovered when the home is sold. It does not model tax deductions or the return a down payment could earn if invested elsewhere.
Who Is This For
Renters weighing homeownership, buyers relocating who need a like-for-like comparison, and anyone who wants a clear-eyed number instead of a rule of thumb.
How It Works
Enter your current rent, the home price you are considering, your planned down payment, expected interest rate, and how long you plan to stay to see which option costs less over that period.
Frequently Asked Questions
Is buying always cheaper than renting long-term?
Not automatically — the outcome depends on how long you stay, the home's appreciation, financing costs, and ongoing expenses. Running your own numbers over your expected timeline gives a clearer answer than a general rule.
What costs are included on the buying side?
The comparison includes the mortgage payment, property taxes, insurance, the maintenance and any association dues you enter as monthly ownership costs, plus mortgage insurance if your down payment is too small to avoid it; the equity you recover at sale, after selling costs, is then subtracted from that total.
Does home appreciation affect the result?
Yes — enter your own appreciation assumption, since it directly affects the equity you would build. Use a conservative figure rather than assuming a specific rate will hold.
Are there tax considerations for owners?
Owners may be able to deduct mortgage interest and property taxes subject to current limits; the value of that deduction depends on your overall tax situation, so confirm specifics with a tax professional.