Should you Rent or Buy?
Make confident housing decisions with comprehensive financial analysis. Our calculator gives you a clear picture of every cost involved, from monthly rent or mortgage payments to taxes, insurance, and maintenance. Compare different scenarios side by side and understand how opportunity costs, investment returns, and long-term savings impact your decision.
Complete financial breakdown, including monthly rent/mortgage, utilities, insurance, and maintenance costs
Tax-aware calculations that consider deductions, credits, and property taxes
Opportunity cost analysis to see how investments or savings could grow over time
Professional insights to guide informed decisions tailored to your unique situation
Side-by-side comparisons of renting vs buying for different scenarios
Customizable inputs to reflect your personal finances and goals
Interactive results with charts, graphs, and visualizations for clarity
Calculate Your Rent vs Buy Costs
Enter your values below to see a detailed comparison of renting versus buying. Adjust home price, mortgage details, and other parameters to find out which option is better for you.
Property Information
Enter the home price and how long you plan to stay in the property.
The purchase price of the home you're considering
How long do you expect to own this home?
Mortgage Details
Configure your down payment, loan term, and interest rate.
Percentage of home price you'll pay upfront
Number of years to repay the mortgage
Annual mortgage interest rate
Annual private mortgage insurance as percentage of loan amount
Rental Information
Enter rental market details for comparison.
Current monthly rent for an equivalent property
Upfront security deposit (typically one month's rent)
Annual cost of renter's liability insurance
One-time rental broker fee, if applicable
Annual Ownership Costs
Recurring expenses paid each year as a homeowner.
Annual property tax as a percentage of home value
Annual homeowners insurance as a percentage of home value
If applicable, monthly homeowners association fees
Annual maintenance costs as a percentage of home value (typically 1-2%)
Monthly utility costs compared to renting
One-Time Buying Costs
Include closing costs for purchase and sale, plus any initial remodeling.
As a percentage of home purchase price (typically 2-5%)
As a percentage of eventual sale price (typically 6-10%)
Any renovation or repair costs in the first year
Growth Assumptions
Set expected growth rates for various financial factors.
Expected annual appreciation rate of the property
Expected annual increase in property taxes
Expected annual increase in rental prices
General inflation for cost of living adjustments
Expected annual return on alternative investments
Tax Assumptions
Configure tax parameters for accurate calculations.
Your federal income tax bracket
Tax rate on investment income and capital gains
Affects standard deduction and tax brackets
Additional itemized deductions not related to the home
Your annual adjusted gross income for calculating income tax
Annual state income tax for calculating income tax
Summary
Rent - After 5 Years
Buy - After 5 Years
Recommendation
Renting is $61,398 cheaper than buying.
Total cost to buy: $201,623 vs rent: $140,226