Rent vs Buy Calculator

Compare the financial impact of renting versus buying a home over time

Home Purchase

Home Price

Down Payment

Mortgage Rate (%)

Term (years)

Annual Property Tax

Annual Maintenance

Annual Home Insurance

Monthly Condo Fees

Closing Costs

Home Appreciation (%/year)

Renting

Monthly Rent

Annual Rent Increase (%)

Annual Renters Insurance

Investment Assumptions

Investment Return (%/year)

Expected return on invested savings

Time Period

Analysis Period (years)

Buying

Monthly Payment

$3,056

Home Value

$671,958

Mortgage Balance

$300,624

Home Equity

$371,334

Total Cost

$481,762

Net Position

-$110,428

Renting

Monthly Payment

$2,025

Investment Balance

$381,895

Total Rent Paid

$265,793

Net Position

$116,102

10-Year Comparison

Better Option

Renting

Advantage

$226,530

Key Insights

• Monthly difference: $1,031
• Total interest paid: $195,386
• Home equity built: $371,334

Detailed Analysis

Buying Breakdown

Down Payment:$100,000

Closing Costs:$15,000

Total Interest Paid:$195,386

Property Tax (10 years):$35,000

Maintenance (10 years):$25,000

Total Spent:$481,762

Home Value:$671,958

Renting Breakdown

Initial Investment:$115,000

Total Rent Paid:$265,793

Investment Growth:$266,895

Total Spent:$265,793

Investment Value:$381,895

Disclaimer: This calculator provides estimates for comparison purposes only. Actual costs may vary based on market conditions, personal circumstances, and other factors. Consult with a financial advisor for personalized advice.