10-Year Rent vs Buy in Charleston, SC
If you plan to stay in Charleston for 10 years, here's how renting and buying compare.
🏠 Buying Appears Better
Potential savings by buying: $36,594
Total Rent Paid
$268,255
Total Owner Costs
$491,213
Equity After Selling
$259,552
Customize Your Analysis
The above results use default assumptions. Adjust the inputs below to match your specific situation.
Rent vs Buy in Charleston, South 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 $36,594 by buying
Over 10 years
Monthly Cost (Rent)
$2,235
Average
Monthly Cost (Own)
$3,231
Average (excl. equity)
Total Rent Paid
$268,255
Total Owner Costs
$491,213
Final Equity
$259,552
After selling costs
Break-Even Year
Year 8
Within horizon
Upfront Costs to Buy
Down Payment (20%)$90,000
Closing Costs (3%)$13,500
Total Needed$103,500
Cost Comparison Over Time
Total Rent Paid
Total Owner Costs
Net Cost (After Equity)
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