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Rent vs Buy Calculator

The Rent vs Buy calculator compares the costs of owning a house to the cost of renting.

You can use this personal finance calculator to determine how much money you may be losing by continuing to rent. Factors affecting your decision include interest, property taxes, tax savings, appreciation, opportunity costs, closing costs, and selling costs.
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For pop-up explanations of any of the entry fields, click the radio button next to the description. Be sure to enter "0" (zero) in any entry boxes that don't apply to you. Also be sure that only numbers and decimal points are entered into the fields (dollar signs and other non-numeric characters will cause a JavaScript error).

 

Monthly rent:

 $

Monthly rental insurance:

 $

Expected annual inflation rate:

 %

Purchase price of home:

 $

Down payment amount:

 $

Length of mortgage term(years):

 #

Mortgage's annual interest rate:

 %

Discount points on purchase of home:

 %

Origination fees:

 %

Other loan costs:

 $

Mortgage Insurance (PMI):

 %

Homeowner's insurance rate:

 %

Monthly association dues:

 $

Average monthly maintenance:

 $

Annual property tax:

 $

State plus Federal income tax rate:

 %

Interest rate you expect to earn on savings:

 %

Expected percentage your home will appreciate by each year:

 %

Number of years you will stay at this property:

 #

Realtor commission rate:

 %

Total estimated cost of renting:

 $

Total estimated cost of buying:

 $

The accuracy of this calculator and its applicability to your circumstances is not guaranteed. You should obtain personal advice from qualified professionals.