Rent vs Buy Calculator

Buying Costs

Home Price

$

Down Payment

$

0% 20% 100%

Mortgage Interest Rate

%

Loan Term (Years)

Annual Property Tax

$

Annual Home Insurance

$

Monthly HOA Fees

$

Annual Maintenance (% of home value)

%

Annual Home Appreciation

%

Closing Costs

$

Renting Costs

Monthly Rent

$

Annual Renters Insurance

$

Annual Rent Increase

%

Investment Return Rate (if you invest down payment)

%

Comparison Results

Analysis Time Period (Years)

1 year 5 years 30 years

Better Option

Buying

Save $50,000 over 5 years

🏠 Monthly Cost to Buy

$2,500

Includes mortgage, taxes, insurance, HOA, maintenance

🔑 Monthly Cost to Rent

$1,817

Includes rent and renters insurance

Total Cost to Buy (over period)

$150,000

Total Cost to Rent (over period)

$109,000

Home Equity Built

$85,000

Investment Value (if renting)

$95,000

Break-Even Analysis

Buying becomes more cost-effective after 7 years

💡 Key Insights

• Your monthly payment for buying is higher, but you're building equity
• Renting offers more flexibility and lower upfront costs
• Consider your plans to stay in the area when making your decision