Buy vs. Rent Calculator
Compare simple monthly owning and renting costs.
Inputs
Buy Vs. Rent Calculator
Results update as you type.
Live result
Owning cost
$2,800.00
Renting cost
$2,200.00
Owning minus renting
$600.00
Scenario compare
Save scenario A, change a few inputs, then save scenario B.
Scenario A
Not saved yet
Scenario B
Not saved yet
Quick check
Change one or two inputs to compare a second scenario before using the number.
Need more detail?
Formula, examples, and FAQ stay tucked away until you need them.
FXFormula ExplanationThe core logic behind the numbers on this page.+
This calculator uses a transparent arithmetic formula to calculate the monthly costs of owning and renting a property. The formula takes into account the inputs provided, including the purchase price, mortgage rate, property taxes, and insurance. You can edit the assumptions to reflect your specific situation, such as the interest rate or property taxes.
USEHow to UseA short path from input to result.+
- Enter the requested inputs.
- Keep any editable rule or rate fields aligned with your situation.
- Review the result and notes before using the estimate.
EXExamplesReference scenarios to sanity-check your inputs.+
Adjust the defaults to match your scenario, then calculate the estimate.
FAQFAQCommon edge cases and quick clarifications.+
What assumptions does the calculator make?
The calculator assumes a 20% down payment, a 30-year mortgage, and annual property taxes and insurance costs. You can adjust these assumptions to match your situation.
Can I use this calculator for investment properties?
No, this calculator is designed for primary residences only. If you're considering an investment property, please use our Investment Property Calculator.
How accurate is the estimate?
This calculator provides a simple estimate and should be used for planning purposes only. For accurate calculations, consult with a financial advisor or tax professional.
Can I save my results?
Yes, you can save your results by clicking the 'Save' button. You can also share the link to this page with others.
What is the formula used to calculate the monthly costs?
The formula is a transparent arithmetic calculation that takes into account the inputs provided, including the purchase price, mortgage rate, property taxes, and insurance.