7-Year Rent vs Buy in Raleigh, NC
If you plan to stay in Raleigh for 7 years, here's how renting and buying compare.
🔑 Renting Appears Better
Potential savings by renting: $12,013
Total Rent Paid
$165,509
Total Owner Costs
$356,821
Equity After Selling
$179,299
Customize Your Analysis
The above results use default assumptions. Adjust the inputs below to match your specific situation.
Rent vs Buy in Raleigh, North Carolina
Should you rent or buy a home? Calculate your best option.
Your Scenario
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7 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 Horizon7 years
35710
💡 Tips
- • Higher mortgage rates favor renting
- • Higher home appreciation favors buying
- • Higher rent growth favors buying
- • Longer time horizons typically favor buying
🔑Renting is Better
You could save $12,013 by renting
Over 7 years
Monthly Cost (Rent)
$1,970
Average
Monthly Cost (Own)
$3,098
Average (excl. equity)
Total Rent Paid
$165,509
Total Owner Costs
$356,821
Final Equity
$179,299
After selling costs
Break-Even Year
Never
Beyond horizon
Upfront Costs to Buy
Down Payment (20%)$84,000
Closing Costs (3%)$12,600
Total Needed$96,600
Cost Comparison Over Time
Total Rent Paid
Total Owner Costs
Net Cost (After Equity)
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