Compare total costs over your planned stay. Buying builds equity; this compares out-of-pocket costs.
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This rent vs buy calculator compares the total cost of renting to the total cost of owning over your expected time horizon. It considers rent, home price, down payment, mortgage rate, property taxes, and how long you plan to stay in the property.
Use the results to see which option may be more cost-effective in your market, and to discuss trade-offs like equity build-up, maintenance responsibilities, and flexibility. Investors and first-time buyers can quickly test scenarios for different neighborhoods or price points.
A rent vs buy calculator compares the total cost of renting versus owning a home over a set number of years. It adds up rent, mortgage payments, taxes, insurance, and other costs to show which option may be cheaper or better for building wealth. You can refine ownership costs with our Mortgage Calculator and Affordability Calculator.
Buying typically becomes more attractive the longer you stay because closing costs and upfront expenses are spread over more years while you build equity. This calculator lets you change your expected years in the home to see the break-even point where owning may outperform renting. You can cross-check payments in our Mortgage Calculator.
When buying, include mortgage payments, property taxes, homeowners insurance, HOA dues, maintenance, and potential repairs. For rentals, include rent, renter's insurance, and any utilities you pay separately. For investment properties, you can also analyze cash flow with our Cash Flow Calculator and Cap Rate Calculator.
If home prices appreciate over time, buying can build equity and net worth faster than renting, where payments never create an asset. In flat or declining markets, renting may be safer in the short term. You can adjust appreciation assumptions in this tool and compare long-term returns in our Investment Analyzer.
You can still compare renting and buying with lower down payment programs, but you may pay mortgage insurance or slightly higher rates. Use the Down Payment Calculator and Mortgage Calculator to see how different down payments change your owning costs before deciding whether to keep renting or buy.