Rent vs. buy calculator
Should you rent or buy? See the breakeven point and total cost comparison over your time horizon.
$2,000
$500$5,000
$420,000
$100,000$2.00M
20%
0%50%
6.67%
2.00%12.00%
10 years
1 year30 years
Better choice: Rent
$208,276
Renting saves you $208,276 over 10 years
Monthly to buy
$4,729
Principal, tax, insurance, maintenance
Monthly to rent
$2,000
Total renting
$240,000
Total buying
$448,276
Home equity (future)
$228,445
Home value (future)
$564,445
Breakeven point: 0 years 1 months. After this point, buying builds more wealth than renting.