Should I Rent or Buy a Home?

Our free rent vs buy calculator helps you decide whether renting or buying a home makes more financial sense. We analyze total costs over 10 years including mortgage payments, property taxes, maintenance, opportunity cost of your down payment, and potential home appreciation.

How the Calculator Works

Enter your home price, down payment, current rent, and how long you plan to stay. Our calculator computes the break-even point—the year when buying becomes financially better than renting. Before this point, you're typically better off renting and investing the difference.

Key Factors We Consider

• Opportunity Cost: What you could earn by investing your down payment in the stock market instead
• Property Taxes: Vary dramatically by location (0.45% in Phoenix to 2.1% in Chicago)
• Home Appreciation: Historical average is around 3% annually, but varies by market
• Maintenance Costs: Typically 1% of home value per year
• Rent Increases: Average 3-5% annually in most markets

Calculate for Your City

We offer specialized calculators for major US cities including Austin, Denver, Miami, Phoenix, Seattle, Los Angeles, San Francisco, New York, Chicago, Houston, Philadelphia, San Diego, and more. Each city page includes local market data and factors like property tax rates.

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