Rent vs. Buy Calculator

Compare the long-term costs of renting versus buying a home to make an informed decision.

  • Methods explained
  • Save scenarios
  • Compare saved scenarios

Shared Assumptions

%
%

Buy

$
$
%
30 years
%
%
%
Monthly Mortgage$2,023
Total Monthly Cost$2,923
Total Ownership Cost$1,132,142
Home Equity$970,905
Net Cost of Buying$75,423

Rent

$
%
Total Rent Paid$1,141,810
Investment Value$1,137,092
Net Cost of Renting$165,819

Recommendation

Better OptionBuy
Savings$90,396
How it works›

Model and assumptions. Projects ownership costs, loan principal, home value and selling costs against rent and the alternative investment of available cash. Results depend on the entered holding period, appreciation, rent growth and return assumptions; they are not forecasts or an individual tax return.CFPB: mortgage termsOpenStax: annuity formulas