Is it more cost effective to rent or buy?

Buying a home may be more affordable than renting. Use this calculator to estimate the costs of renting vs. owning. Then decide which is right for you. (The results are based on a 5-year period.)
Rent vs. buy calculator

Rental Related Information

Rent Payment
$
Security Deposit
$
Renters Insurance (Monthly)
$
Max Annual Rent Increase
%
Other Rent Related Payments
$

Purchase Related Information

Sale Price
$
Annual Property Insurance
$
Credit Score
Your Personal Tax Rate
%
Interest Rate
%
Closing Cost
%
Down Payment
%
Annual Appreciation Rate
%
Annual Real Estate Property Tax
$
Restore Default Values
The calculator is for informational purposes only and is not intended to provide legal or financial advice, or to reflect the actual terms and conditions of a loan. In no event shall we be liable for any direct, indirect, incidental, special, or consequential damages arising out of or in connection with your use of the calculator. Please note that financing may not be available for all scenarios. The advice of a professional should be consulted when buying a home or financing a mortgage loan.