Rent vs Buy Calculator

Compare the long-term financial impact of renting versus buying a home over 10 years

Verdict
Rent
saves $27,053
Monthly Rent
$2,017
initial monthly cost
Monthly Buy
$2,881
initial monthly cost
Net Wealth Diff
$27,053
renting advantage
Renting
$2,000
3%
%
$200/yr
Buying
$400,000
20% ($80,000)
%
6.5%
%
30 years
yrs
1.2%
%
$1,500/yr
$0/mo
1% ($4,000/yr)
%
3.5%/yr
%
Investment & Timeframe
7%/yr
%
10 years
yrs
Cumulative Cost Over Time
Renting
Buying
Net Wealth Comparison
Renter (Investments)
Buyer (Home Equity)
Side-by-Side Comparison
Renting
Buying
Initial Monthly Cost
$2,017
$2,881
Total Cost (10yr)
$277,133
$452,950
Net Wealth Built
$286,155
$259,102
Upfront Cost
$0
$92,000
Monthly After 10yr
$2,688
$2,881
Renting is the better financial choice

Over 10 years, renting and investing the savings builds $286,155 compared to $259,102 in home equity from buying. Renting comes out ahead by $27,053.