10-Year Rent vs Buy in Philadelphia, PA
If you plan to stay in Philadelphia for 10 years, here's how renting and buying compare.
🏠 Buying Appears Better
Potential savings by buying: $48,672
Total Rent Paid
$233,863
Total Owner Costs
$349,574
Equity After Selling
$164,383
Customize Your Analysis
The above results use default assumptions. Adjust the inputs below to match your specific situation.
Rent vs Buy in Philadelphia, Pennsylvania
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 $48,672 by buying
Over 10 years
Monthly Cost (Rent)
$1,949
Average
Monthly Cost (Own)
$2,367
Average (excl. equity)
Total Rent Paid
$233,863
Total Owner Costs
$349,574
Final Equity
$164,383
After selling costs
Break-Even Year
Year 6
Within horizon
Upfront Costs to Buy
Down Payment (20%)$57,000
Closing Costs (3%)$8,550
Total Needed$65,550
Cost Comparison Over Time
Total Rent Paid
Total Owner Costs
Net Cost (After Equity)
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