Financial

Rent vs Buy Calculator

Compare the true multi-year cost of renting versus buying a home.

Monthly rent

Rent growth (%)

Home price

Down payment

Rate (%)

Years

Appreciation (%)

Better option

Buying

by roughly $98,879 over 7 years

Total renting cost$202,289

Net buying cost$103,410

Method

How it works

Compares total renting cost to net buying cost (payments + tax + maint − built equity)

Buying builds equity but has closing costs, maintenance, and property tax. Renting is more flexible but every dollar is spent. Break-even usually falls between years 4 and 7.

FAQ

Frequently asked

What's the 5% rule?

Estimate annual homeownership cost at ~5% of home value (1% tax + 1% maintenance + 3% mortgage cost). If it's less than annual rent, buying likely wins.