Rent vs Buy Calculator
Should you rent or buy? See the math.
Calculator
Compare Renting vs Buying
Enter your current rent and a potential home purchase to see which costs less over your time horizon.
If you invested the down payment instead
Frequently Asked Questions
When is renting better than buying?
Renting often wins when you plan to stay less than 5 years, home prices are high relative to rents, interest rates are high, or you can earn strong returns by investing your down payment elsewhere. This calculator accounts for all these factors.
What costs does this include for buying?
Mortgage P&I, property tax, insurance, maintenance (estimated at 1%% of home value per year), and closing costs. It credits you for home appreciation and equity buildup.
What about the tax benefits of owning?
The mortgage interest deduction only helps if you itemize, and the 2017 tax law raised the standard deduction high enough that most homeowners no longer benefit. This calculator does not include tax benefits to avoid overstating the advantage of buying.
Rent vs Buy Calculator
Should you rent or buy? This calculator compares total cost of renting vs buying over your chosen time horizon, accounting for mortgage costs, home appreciation, opportunity cost of the down payment, and maintenance.