Rent vs. Buy Calculator
Should you rent or buy? Compare the total costs over time and find your break-even point.
Parameters
Monthly Mortgage
$2K
Total Monthly Cost
$2K
Equity at 10yr
$231K
Break-even
N/A
Cost Comparison Over 10 Years
Year 1Equity: $84K
Rent
$18K
Buy
$96K
Year 2Equity: $98K
Rent
$37K
Buy
$123K
Year 3Equity: $112K
Rent
$56K
Buy
$149K
Year 4Equity: $127K
Rent
$75K
Buy
$176K
Year 5Equity: $143K
Rent
$96K
Buy
$202K
Year 6Equity: $159K
Rent
$116K
Buy
$229K
Year 7Equity: $176K
Rent
$138K
Buy
$255K
Year 8Equity: $194K
Rent
$160K
Buy
$282K
Year 9Equity: $212K
Rent
$183K
Buy
$308K
Year 10Equity: $231K
Rent
$206K
Buy
$335K
Renting may be better for this period
Over 10 years, renting costs $206K vs buying costs $265K. Consider extending the timeframe.