Renting versus buying
Deciding whether to rent or buy a home depends on more than the monthly payment. This calculator compares the total cost of renting to the net cost of buying over the same period, factoring in the down payment, mortgage payments, maintenance and property taxes, and expected home appreciation.
How the comparison is made
The total cost of renting is simply your monthly rent multiplied by the number of months compared. The net cost of buying adds up the down payment, mortgage payments made during that period, and ongoing maintenance and tax costs, then subtracts the estimated gain from home appreciation over the same span. A lower net cost indicates the more financially favorable option under the assumptions entered.
This is a simplified educational estimate. It does not include closing costs, mortgage interest tax deductions, rent increases, opportunity cost of the down payment, or selling costs, all of which can meaningfully change the real-world outcome.