Rent vs. Buy

Should you rent or should you buy your home? It takes more than looking at your mortgage payment to answer this question. This calculator helps you weed through the fees, taxes, and monthly payments to help you make a good financial decision.

Please fill-in the details to determine if you want to RENT or BUY:

General Information
Estimated Purchase Payments
Marginal tax rate
Closing costs (including points)
Annual interest rate
Property tax (monthly)
Proposed Purchased Information
Homeowners insurance (monthly)
Sale price of home
Maintenance (monthly)
Approx. appraised property value
Monthly rent
Down payment on home
Renters insurance (annual)
Term of mortgage in years
Estimated purchase date

Loan amount
Monthly payment
Annual rent
Tax savings of interest deductions
Total annual cost of renting
Tax savings of property tax
Opportunity cost of buying
Total adjustments
Total cost of buying
After-tax cost of home ownership
Principal reduction in mortgage
Net annual cost of home ownership