Calculator

Rent vs Buy Calculator

Compare the total cost of buying versus renting over your expected holding period.

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Home price

Down payment

Interest rate (example)

Loan term (years)

Property tax rate (% / year)

Homeowners insurance ($ / year)

Maintenance ($ / month)

Current rent ($ / month)

Annual rent growth (%)

Annual home appreciation (%)

Holding period (years)

Over 7 years

Total cost of buying (net of equity): $194,606
Total cost of renting: $202,289
Buying may save: $7,683

Estimated future home value: $553,443 · Remaining loan balance: $327,488 · Estimated equity: $192,749

Assumptions

Selling costs estimated at 6% of future value. Rent grows annually; home appreciates annually. Excludes tax effects. A short holding period often favors renting; a longer period often favors buying.

Important

Results are estimates only, not a loan approval, commitment to lend, or Loan Estimate.
Taxes, insurance, and other costs vary by location and transaction.
Rates and program terms are illustrative and depend on your full scenario.
A licensed mortgage professional must review your complete situation.
This tool does not collect or store any personal data.