Use this calculator to compare costs over a set time frame to decide whether to rent or buy your new home.
Our rent vs. buy calculator compares the total cost of renting over a span of time with the total cost of buying, with considerations for loan amounts, terms, and interest rates.
To calculate the cost of renting, we start with the monthly rent multiplied by the duration of rental.
To calculate the cost of buying, we first deduct the percentage of initial down payment from the purchase price. A loan amount is then established and its term is considered to determine the remaining monthly amortization.
Our rent vs. buy calculator compares the total cost of renting over a span of time with the total cost of buying, with considerations for loan amounts, terms, and interest rates.
To calculate the cost of renting, we start with the monthly rent multiplied by the duration of rental.
To calculate the cost of buying, we first deduct the percentage of initial down payment from the purchase price. A loan amount is then established and its term is considered to determine the remaining monthly amortization.