Rent vs Buy Calculator
Compare the monthly cost of owning a home with renting. This weighs the full cost of owning — mortgage plus taxes, insurance and upkeep — against the rent you'd otherwise pay.
Your details
- Renting — monthly cost
- $2,200.00
- Owning costs more / (less)
- $522.62
- Mortgage (P&I)
- $2,022.62
Own vs rent (monthly)
- Own — monthly cost
- $2,722.6255%
- Rent — monthly cost
- $2,200.0045%
Formula
Loan = price × (1 − down payment%). Monthly own cost = mortgage principal & interest + taxes, insurance and maintenance. The difference is that figure minus your monthly rent.
How it works
This is a monthly-cost comparison, not the whole story. Owning also builds equity and may appreciate, while renting keeps you flexible and lets you invest the difference. Use this alongside how long you plan to stay — buying usually needs about five years to pay off.
Frequently asked questions
Is it cheaper to rent or buy?⌄
It depends on prices, rates, and how long you stay. This shows the monthly cost side by side; owning often costs more per month at first but can build wealth over time through equity and appreciation.
Why isn't equity included here?⌄
This is a simplified monthly-cost view. A full comparison also accounts for equity, home appreciation, and the return you'd earn investing your down payment — which is why the five-year rule of thumb matters.
What counts as the extra ownership costs?⌄
Property tax, homeowners insurance, and maintenance (often budgeted near 1% of the home's value per year), plus any HOA dues and PMI. Enter your best monthly estimate.
Sources & methodology
Simplified monthly-cost comparison. Excludes equity build-up, appreciation, closing/selling costs, tax effects, and the opportunity cost of the down payment.
Embed this calculator⌄
Paste this into your page — it works with no key and computes in the visitor's browser.
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