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Rent vs Own Calculator
See whether renting or buying costs less over your time horizon.
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yrs
After 7 years, owning costs less by
$90,792
Total net cost of renting$229,874
Total net cost of owning$139,082
Cost over time
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Frequently asked questions
How is 'net cost of owning' calculated?
We add mortgage payment, property tax, insurance, maintenance and closing costs, then subtract the equity you'd have from paying down the loan and home appreciation.
What appreciation rate should I use?
The long-term US average is roughly 3-4% per year, but local markets vary significantly.
Does this include tax benefits?
No — this comparison is pre-tax. Use the Tax Savings calculator to estimate the mortgage interest deduction.