Rent vs Buy Home Calculator
Compare the total 30-year cost of buying a home versus renting to determine which option makes more financial sense.
Results
What is it?
This calculator compares the total out-of-pocket cost of buying a home (mortgage payments plus down payment) versus renting an equivalent property over the full loan term. It is a simplified analysis — it does not include property taxes, maintenance, appreciation, or investment returns on the down payment.
How to use
Enter the home price, your down payment, the mortgage interest rate, loan term, and what monthly rent would cost for a comparable home. The calculator shows both total costs and which option is cheaper on a pure cash-flow basis.
Example scenario
A $350,000 home with $70,000 down at 6.5% for 30 years costs about $1,771/month in mortgage payments. Over 30 years that is $707,560 total (including down payment). Renting at $1,800/month totals $648,000 — making renting $59,560 cheaper on pure cash outflow.
Pro tip
This calculator only compares cash outflow. Buying builds equity and benefits from appreciation; renting preserves liquidity. The full rent-vs-buy decision should also consider property tax, maintenance (~1-2%/year of home value), and the investment return you could earn on the down payment if you rented instead.