Rent Vs. Buy Calculator
Use this calculator to get a detailed 5-year cost comparison of renting vs. buying.
Your rent payment is {{results.totalRentPayment | format_money}} and your mortgage payment could be approximately {{results.totalPayment | format_money}}
Additional Monthly Cost to Own
{{results.diffToOwn | format_money}} You save {{(-1 * results.diffToOwn) | format_money}} per month (year 1)
Savings of Ownership vs. Renting
{{results.additionalBenefits | format_money}} over 5 years
*Based on a 30 year fixed rate loan
**All results rounded to the nearest dollar
5 Year Cost Comparison
Rent
Security Deposit
{{rent.security | format_money}}
Year {{index+1}} Rent
{{totalYearRent | format_money}}
Total Payouts
{{results.totalYearsRent | format_money}}
Purchase
Downpayment
{{results.downPayment | format_money}}
Closing Costs
{{results.closingPrice | format_money}}
5 year Cost of Payments
{{results.payment5yr | format_money}}
5 year tax savings
{{results.taxSavings5yr | format_money}}
Total Payouts
{{results.totalPayouts | format_money}}
5 year appreciation
{{results.appreciation5yr | format_money}}
5 year principal reduction + downpayment
{{results.principalReduct5yr | format_money}}
Monthly Rental Payment
Rent Payment
{{rent.payment | format_money}}
Renter's Insurance
{{rent.monthly_insurance | format_money}}
Other payments
{{rent.other_payments | format_money}}
Monthly Housing Payment
Loan Amount
{{results.loanAmount | format_money}}
Principal and Interest (PI)
{{results.principalAndInterest | format_money}}
Mortgage Insurance
{{results.mortgageInsurance | format_money}}
Property Tax
{{results.monthlyRepTax | format_money}}
Property Insurance
{{results.propInsurance | format_money}}
