Rent vs Buy Calculator
This is a directional monthly payment comparison, not a full total-cost-of-ownership model. It uses a standard fixed-rate mortgage payment on the borrowed amount plus your monthly ownership add-ons.
Rent vs buy (monthly)
Simplified; excludes maintenance and appreciation.
How this is calculated
Loan amount = price × (1 − down payment%). We compute the level monthly P&I using the nominal APR and term, then add taxes/insurance/HOA per month.
Example: cheaper buy payment vs. rent suggests ownership may cash-flow better month to month—still add maintenance, opportunity cost, and mobility before deciding.
Use this tool for
- Neighborhood screening when listings show taxes and HOA.
- Explaining how rate moves change the buy side faster than rent.
- Pairing with cap rate or rent comps for investment properties.
Common questions
Why not total 10-year cost?
This page focuses on monthly housing payment feel; add maintenance, tax benefits, and opportunity cost in a spreadsheet for full lifecycle math.
PMI?
If your down payment is low, fold PMI into the “taxes + insurance + HOA” bucket manually.
