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Rent vs. Buy Calculator

Not sure whether to rent or buy a home? Our simple rent vs. buy calculator breaks down the numbers to show which option is best for you.

Renting

Your upfront and ongoing rental costs.

Rent (monthly)

Security deposit

Renting Options

Renter's insurance (monthly)

Broker fee

Rent increase (yearly)

Buying

Cost of buying a home over time.

Purchase price

Down payment ($80,000)

Loan term

Interest rate

Buying Options

Closing costs ($12,000)

Property tax rate ($4,800 /year)

Homeowner's insurance (yearly)

HOA fees (monthly)

Utilities (monthly)

Private mortgage insurance (PMI)

Home repairs & maintenance ($4,000 /year)

Selling costs

Home appreciation (yearly)

Financial Assumptions

Factors that impact long-term results.

Tax filing status

Annual rate of return

Show inflation-adjusted dollars

Tax Options

Marginal tax rate

Capital gains tax rate

Inflation rate

Total costs after 3 years

	Rent	Buy
Initial costs
Recurring costs
Opportunity costs
Net proceeds
Total (Inflation adjusted)

This calculator provides a broad approximation and is intended for educational use. Projections are based on the data supplied and should not serve as a resource for decision-making.

Frequently Asked Questions

Questions About Renting vs. Buying?

Get practical answers to help you make the best financial choice.

How does the Rent vs. Buy Calculator determine which option is better?

It compares the total long-term cost of renting versus buying by factoring in upfront expenses, monthly payments, tax savings, property appreciation, and opportunity cost. Based on your inputs, it shows when or if buying becomes the more cost-effective choice.

What inputs do I need to use the Rent vs. Buy Calculator?

Enter your monthly rent, home price, down payment, mortgage details, and time horizon. Advanced settings let you adjust for taxes, insurance, maintenance, appreciation, and inflation. If you're unsure, built-in national averages provide a solid starting point.

What is the break-even point in a rent vs. buy analysis?

It's the number of years until buying becomes cheaper than renting. The calculator highlights this moment by accounting for equity gains, appreciation, and upfront costs, so you know how long you'd need to stay for a home purchase to pay off.

Does the calculator account for taxes, inflation, and investment returns?

Yes. Future costs are adjusted for inflation to today's dollars. It also considers potential investment returns on your down payment. It includes mortgage interest and property tax deductions, assuming you itemize.

Is renting always cheaper than buying a home?

No. Renting offers flexibility and lower short-term costs, but buying can build wealth over time. This calculator helps you compare both paths side by side, based on your numbers, not generic rules of thumb.