Calculator: Should I Rent or Buy a Home?
Number of Years for Comparison (0-30)
Rent Assumptions
Monthly Rent Payment
Additional Monthly Fees
Monthly Renter's Insurance Premium
Annual Rent Increase
Security Deposit
Purchase Assumptions
Purchase Price of Home
Down Payment %
Down Payment
Amount of Loan
Annual Interest Rate
Closing Costs
Annual Homeowner's Insurance Premium
Annual Property Taxes
Annual Maintenance Cost
Selling Assumptions
Average Annual Home Appreciation Value
Summary
Renting
Buying
One-Time Costs
$1,500.00
$53,000.00
Total Monthly Costs
$47,081.90
$325,924.14
Selling Proceeds
$0
$330,705.37
Theoretical Total Costs
$48,581.90
$48,218.78