Rent Vs. Buy Calculator

This calculator will help you to compare the costs of renting to the costs of buying a home. Since there are all kinds of forces at work behind the scenes (interest, property taxes, tax savings, appreciation, opportunity costs, closing costs, selling costs, etc.), comparing the cost of renting to the cost of buying is a lot more complicated than just comparing the monthly mortgage payment to the monthly rent payment. This calculator attempts to forecast the net effects of all the hidden forces so you can make an informed decision.

Help & Instructions will appear in cells to the right of fields once you click in or tab into the fields.

Entry DescriptionsEntry FieldsExplain/Instruct
Monthly rent ($):  
Monthly rental insurance ($):
Expected annual inflation rate (%):
Purchase price of home ($):
Down payment amount ($):
Length of mortgage term (# of 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 (%):
Result DescriptionsResult FieldsExplain/Instruct
Total estimated cost of renting:  
Total estimated cost of buying: