Should You Rent or Buy?
Calculate the true cost of renting versus buying a home. Make an informed decision based on your unique financial situation.
Rent or Buy Today
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Your Scenario
Explore Scenarios
Adjust these sliders to see how different assumptions affect your decision.
💡 Tips
- • Higher mortgage rates favor renting
- • Higher home appreciation favors buying
- • Higher rent growth favors buying
- • Longer time horizons typically favor buying
You could save $2,706 by buying
Over 7 years
Upfront Costs to Buy
Cost Comparison Over Time
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Get pre-calculated scenarios for major US metros with local market data.
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How It Works
1. Enter Your Scenario
Input home price, rent, mortgage rate, and other details for your situation.
2. See the Analysis
Get instant calculations showing total costs, equity buildup, and break-even points.
3. Make Your Decision
Use sensitivity controls to explore scenarios and share your analysis.
Frequently Asked Questions
How accurate is this calculator? ▼
Our calculator uses standard financial formulas for mortgage amortization, property costs, and investment returns. However, actual results will vary based on market conditions, tax situations, and individual circumstances. This tool is for educational purposes and should not replace professional financial advice.
What costs are included in the calculation? ▼
For buying: mortgage payments (principal & interest), property taxes, homeowners insurance, HOA fees, maintenance, closing costs, and selling costs. For renting: monthly rent with optional annual increases.
Why does the time horizon matter? ▼
Buying a home has significant upfront costs (down payment, closing costs). These costs need time to be offset by equity buildup and potential appreciation. Generally, longer time horizons favor buying, while shorter horizons favor renting.