Rent vs. Buy Calculator
This calculator will compare the cost of renting vs. the real cost of buying a home. This calculator will compare the costs and benefits of taxes, fees, and interest you will pay when buying a home to the monthly rent you pay when renting. It does not include payments made against the principal on your loan, since those payments become equity in your home.
For help with a particular item, click on the “?” next to the item.
|Mortgage insurance: ?||$|
|Homeowner’s insurance: ?||$|
|Association dues: ?||$|
|Average monthly maintenance: ?||$|
|State and Federal income tax: ?||%|
|Your savings rate: ?||%|
|How much will your home appreciate each year?: ?||%|
|How much will rent increase each year?: ?||%|
|How long will you stay in this property?: ?||months|
|Total Monthly payment||3,000.00||6,034.13|
|Present value of all costs over 120 months ?||289,326.25||462,767.77|
|Home equity ?||-9,457.99|
|Total net cost||289,326.25||472,225.76|
You will save $182,899.51 if you rent instead of buy.