10105 East Via Linda, STE #103 PMB-1193, Scottsdale, AZ 85258

(248) 762-9144
Client Login

Rent vs Buy Calculator

Should you rent or buy? Home ownership is a great way to build long-term wealth, and the interest portion of your mortgage payment may be tax deductible. However, renting may make more sense over shorter periods—and a larger standard tax deduction recently may make renting more attractive than it once was. This calculator helps you compare the total cost of renting versus buying a home over time, so you can make an informed decision that fits your situation.

Buying a Home

Enter the home price, down payment, and mortgage details.

These are example values. Update them to reflect your personal situation.

$
$50,000 $10,000,000
$
$0 $10,000,000
%
years

Renting

Enter your current or expected monthly rent and how much it may increase each year.

$
$500 $100,000
%

Should you rent or buy? Home ownership is a great way to build long-term wealth, and the interest portion of your mortgage payment may be tax deductible. However, renting may make more sense over shorter periods—and a larger standard tax deduction recently may make renting more attractive than it once was. This calculator helps you compare the total cost of renting versus buying a home over time, so you can make an informed decision that fits your situation.

Your Rent vs. Buy Comparison

Based on a 30-year comparison period.

Buying Costs Less

$0

comparison text
home Buy a Home
Loan Amount
$0
Monthly Payment
$0
Total Payments (30 Years)
$0
Total Payments (5 Years)
$0
apartment Rent a Home
Starting Monthly Rent
$0
Final Year Monthly Rent
$0
Total Rent Paid (30 Years)
$0
Total Rent Paid (5 Years)
$0

Cumulative Cost Over Time

The Mortgage Interest Rate and Annual Rent Increase are both hypothetical examples used for illustrative purposes only. They do not represent any specific mortgage rate or any renting market. Actual returns will fluctuate. The illustration does not take into account property tax, insurance, maintenance, or other costs. Calculations do not take into consideration home resale value nor the costs of resale.

Have A Question About This Topic?

Thank you! Oops!

Related Content

Social Media: Newest Business Liability Risk

Social Media: Newest Business Liability Risk

Social media may be a modern imperative for businesses looking to grow and build their brand, but it also introduces risk.

How Will the Economy React to AI?

How Will the Economy React to AI?

What do concerns or uncertainty about AI mean for your future and your financial strategy?

4 Elements of an Estate Strategy

4 Elements of an Estate Strategy

Learn about the importance of having an estate strategy in this helpful and informative video.