Cost Comparison

Rent vs. Buy Calculator

Compare the true cost of renting versus owning over time.

Your Situation

Monthly Rent$2,000

Home Price$450,000

Down Payment20% ($90,000)

Interest Rate6.500%

Property Tax / yr1.2%

Monthly HOA$0

Years in Home7 yrs

Home Appreciation / yr3%

Over 7 years

Buying saves you

$81,881

Renting

Total Cost

$183,899

Monthly: $2,000

Buying

Net Cost

$102,018

Monthly: $2,857

Buying Breakdown

Down Payment$90,000

Mortgage + Tax + Ins (7y)$239,962

Home Value at 7y$553,443

Loan Balance Remaining$325,498

Equity Built$227,945

PURCHASE

Purchase

Deciding to buy? Compare the true cost of renting versus owning in your area.

RESEARCH APPLY

Estimates only. Rent assumes 3% annual increase. Buying includes P&I, property tax, insurance, and HOA. Does not include closing costs, maintenance, or tax deductions. Consult a loan officer for a personalized analysis.