Renting vs Buying
Is it cheaper for you to rent or buy? We'll show you how many years it will take before the cost of buying equals the cost of renting – the breakeven horizon. If you'll stay in your home past the breakeven horizon, consider buying; if you'll move sooner, renting might be a better option.
Renting
Monthly Rent
Buying
Purchase Price
Down Payment
Mortgage Rate (%)
Rent Inflation (%)
Home Appreciation (%)
Investment Return (%)
Buying Costs (%)
Selling Costs (%)
If you stay 30+ years, renting costs less.
Buying becomes cheaper than renting after 30 years.
Total costs after 3 years
| Cost Breakdown | Rent | Buy |
|---|---|---|
| Initial Costs | $2,200 | $49,800 |
| Recurring Costs (Net) | $74,923 | $116,222 |
| Opportunity Costs / Gains | -$54,708 | -$62,596 |
| Total Net Cost | $20,215 | $103,426 |
Disclaimer: The Rent vs. Buy calculator is intended to be used for educational purposes only. Actual costs may vary based on specific market conditions.