Rent vs. Buy Calculator

Compare the true financial cost of renting versus buying a home over your planned time horizon.

🏠 Buying

Home Price ($)

Down Payment: 20%

Mortgage Rate: 7%

Loan Term (years)

Property Tax: 1.1%/yr

Home Insurance ($/yr)

Maintenance: 1%/yr

HOA ($/month)

Home Appreciation: 3.5%/yr

Monthly Rent ($)

Annual Rent Increase: 3%

Investment Return on Down Payment: 7%

Time Horizon: 10 years

Monthly Mortgage Payment

$2,129/mo

vs rent: $2,200/mo

🏠 Buying is Better over 10 years

$343,038

net advantage for buying

Down Payment$80,000

Closing Costs (~3%)$12,000

Mortgage Payments$255,476

Property Tax$44,000

Insurance + Maintenance$55,000

Home Value After 10yr-$564,240

Net Cost-$117,763

Home Equity$289,640

Total Rent Paid$302,646

Invested Down Payment-$77,372

Net Cost$225,274