10-Year Rent vs Buy in Charlotte, NC
If you plan to stay in Charlotte for 10 years, here's how renting and buying compare.
🏠 Buying Appears Better
Potential savings by buying: $30,364
Total Rent Paid
$240,741
Total Owner Costs
$429,554
Equity After Selling
$219,177
Customize Your Analysis
The above results use default assumptions. Adjust the inputs below to match your specific situation.
Rent vs Buy in Charlotte, North Carolina
Should you rent or buy a home? Calculate your best option.
Your Scenario
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10 years
1 years30 years
Explore Scenarios
Adjust these sliders to see how different assumptions affect your decision.
Mortgage Rate7.00%
5%7%9%
Home Appreciation3.0%
0%3%5%
Rent Growth3.0%
0%3%6%
Time Horizon10 years
35710
💡 Tips
- • Higher mortgage rates favor renting
- • Higher home appreciation favors buying
- • Higher rent growth favors buying
- • Longer time horizons typically favor buying
🏠Buying is Better
You could save $30,364 by buying
Over 10 years
Monthly Cost (Rent)
$2,006
Average
Monthly Cost (Own)
$2,851
Average (excl. equity)
Total Rent Paid
$240,741
Total Owner Costs
$429,554
Final Equity
$219,177
After selling costs
Break-Even Year
Year 8
Within horizon
Upfront Costs to Buy
Down Payment (20%)$76,000
Closing Costs (3%)$11,400
Total Needed$87,400
Cost Comparison Over Time
Total Rent Paid
Total Owner Costs
Net Cost (After Equity)
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