Rent vs. Buy Calculator

Make an informed financial decision by comparing the total cost of renting versus buying a home over time.

Scenario Parameters

$
USD
$
%
%
7 Years
1 Year30 Years
3.5%
0%10%
4.0%
0%10%
Recommendation

Buying is cheaper after 7 years.

Over 7 years, you will save approximately $74,657 by purchasing a home.

Breakeven Point
Year 4
Avg. Yearly Savings
$10,665

Cost of Renting

Total unrecoverable costs over 7 years

$29k
Yr 1
$59k
Yr 2
$123k
Yr 4
$227k
Yr 7
Total Rent Paid
$224,047
Renters Insurance
$2,800
Net Cost$226,847

Cost of Buying

Total costs minus equity gained

$58k
Yr 1
$75k
Yr 2
$108k
Yr 4
$152k
Yr 7
Total Payments & Costs
$418,861
Equity Gained (Subtract)
-$266,671
Net Cost$152,190