Rent versus Buy Calculator

Before You Begin

Enter your current monthly rent and estimated homeownership costs to compare your monthly housing expenses. If you're not sure about property taxes, homeowners insurance, or interest rates, consider using online estimates or speaking with a housing counselor.

Important Considerations

This calculator provides a simplified comparison of monthly housing costs and is intended for educational purposes only.

This calculator does not include:

• Home appreciation or changes in property value
• Home maintenance and repair expenses
• HOA dues or special assessments
• Closing costs
• Private Mortgage Insurance (PMI)
• Tax benefits or deductions
• Rent increases over time
• Homeowners association fees (if applicable)
• Utility costs
• Equity gained through future home price appreciation

A home purchase decision should consider both financial and personal factors, including your housing needs, expected length of stay, financial goals, and overall budget.

Monthly cost is only one part of the decision. Homeownership may provide opportunities to build equity and benefit from future appreciation, while renting may offer greater flexibility and lower maintenance responsibilities.