Borrowing
Rent vs buy calculator
A quick comparison of the yearly cash cost of renting versus owning — the mortgage plus the costs people forget: property tax, insurance, and maintenance.
Renting
Buying
Renting — yearly cost
$24,000
Owning — yearly cash cost
$34,471
+ $80,000 down upfront
Mortgage payment / mo$2,022.62
Renting / yr$24,000
Owning / yr$34,471
Renting costs less per year by$10,471
See what you'd actually qualify for
Mortgage rates and the price you can afford vary by lender and credit. Comparing real quotes is the only way to know your true cost of owning.
A cash-cost comparison only — it doesn’t count home-equity buildup, appreciation, tax effects, or what you’d earn investing the down payment. Useful as a starting point, not a verdict. Not financial advice.