Rent vs. Buy Calculator
Find out whether renting or buying costs less over the time you plan to stay. Compare rent, mortgage, taxes, upkeep and sale proceeds, and see when buying breaks even.
Rent vs. Buy Calculator
Should I rent or buy? Compare the real cost of each over the time you plan to stay.
Down payment unit
Loan term unit
Closing costs for buying unit
Buying comes out ahead
If you buy, you could save $94,622 over the next 7 years.
Buying breaks even after 2 years 6 months.
Cost of renting
Monthly rent today$2,400
Monthly rent in your last year$2,866
Total rent$220,679
Renter's insurance$2,299
Net cost of renting$222,978
Cost of buying
Down payment$85,000
Closing costs and points$14,450
Mortgage payments$180,519
Taxes, insurance, upkeep$73,345
Lost investment earnings$25,280
Tax savings−$52,081
Net proceeds from sale−$198,157
Net cost of buying$128,356
Gain from buying vs. renting
- Gain from buying
- Break-even
Break-even point: 2 years 6 months
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