Rent vs Buy Calculator
Compare the long-term financial impact of renting versus buying over time.
Buying Costs (10 Years)
Down Payment:
$80,000
Mortgage Payments:
$227,760
Property Tax:
$48,000
Insurance:
$12,000
Maintenance:
$40,000
Total Costs:
$407,760
Home Value:
$537,280
Net Position:
$129,520
Renting Costs (10 Years)
Total Rent Paid:
$344,090
Net Position:
-$344,090
Buying Wins!
$473,610 better than renting
Key Factors to Consider
Advantages of Buying
- • Build equity and wealth over time
- • Stable monthly payments (fixed-rate)
- • Tax benefits (mortgage interest deduction)
- • Freedom to customize and renovate
- • No rent increases
Advantages of Renting
- • Lower upfront costs
- • Flexibility to move easily
- • No maintenance responsibilities
- • No market risk
- • Access to amenities (pools, gyms)
Other Calculators
Mortgage Calculator
Calculate your monthly mortgage payment with taxes and insurance.
Calculate PaymentBudget Calculator
Analyze your income and expenses to determine housing affordability.
Create BudgetAffordability Calculator
Determine maximum home price based on income and debt ratios.
Check Affordability