How to Use the Rent vs. Buy Calculator
- Enter your monthly rent and expected annual rent increase.
- Enter the home price, down payment, mortgage rate and term.
- Add property tax, maintenance and expected appreciation.
- Set how many years you'll stay and compare the totals.
Frequently Asked Questions
What does the calculator compare?
It estimates the net cost of renting (total rent paid) versus buying (down payment, mortgage payments, taxes and maintenance, minus the home equity and appreciation you keep) over your chosen time horizon.
Why does how long I stay matter so much?
Buying has large upfront costs, so the longer you stay, the more those costs are spread out and the more appreciation and equity you build — which often tips the balance toward buying over time.
Is this financial advice?
No. It's an estimate to inform your thinking. Real decisions also involve lifestyle, job stability and local market conditions — consult a financial professional.