Rent vs Buy Calculator
Compare the total costs of renting versus buying a home over 5 and 10 years. Make informed decisions about your housing future.
Renting Costs
Typical: 2-4% per year
Buying Costs
Typical: 20% to avoid PMI
30-year fixed mortgage rate
Historical average: 3-4%
Enter rent and home price to see comparison
Factors to Consider
Flexibility
Renting offers more flexibility to move for jobs or lifestyle changes. Buying ties you to a location.
Maintenance
Homeowners pay for all repairs and maintenance. Renters have landlords handle most issues.
Equity Building
Buying builds equity over time. Rent payments provide no equity or investment return.
Market Risk
Home values can decrease. Renters are protected from market downturns affecting property value.
Tax Benefits
Homeowners may deduct mortgage interest and property taxes, reducing taxable income.
Upfront Costs
Buying requires large upfront investment. Renting typically only requires first month and deposit.