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Rent vs buy calculator

Compare two housing scenarios using equal initial cash and the same monthly budget. Adjust your own assumptions to explore net worth after an assumed home sale. The example does not recommend renting, buying, or an investment return.

Illustrative example — edit the inputs to explore your own assumptions.

Your inputs

From 0 to 1,000,000,000,000 in the selected display currency.

From 0% to 100%. A mathematical input, not loan eligibility.

From 0% to 100%. Divided by 12 for monthly loan interest; no lender quote or fees.

An integer from 1 to 600 months. Mortgage payments stop after payoff.

An integer from 1 to 50 years; both scenarios end in the same month.

From 0% to 20%, paid once at purchase in addition to the down payment.

From 0% to 20%, deducted once from the final home value at assumed sale.

From 0% to 20%. A user-supplied simplified total, paid monthly on the initial price throughout; no regional tax rates are assumed.

From −10% to 100%, converted to an equivalent monthly change.

From 0 to 1,000,000,000,000. First adjustment is in month 13.

From −10% to 100%. Rent changes after each complete 12-month period.

From −10% to 100%, converted to an equivalent monthly return; differences are invested at month end.

Display only; no exchange-rate conversion.

Inputs stay in this page’s memory. They are not saved or added to the URL. Refreshing resets the form.

Calculation results

Applied assumptions and results for 10 years. All amounts are nominal in USD; no inflation adjustment or currency conversion. Net worth can be negative. The difference is a scenario comparison, not a recommendation.

Initial home price
400000
Down payment (%)
20
Fixed nominal loan APR (%)
5
Loan term (months)
360
Comparison period (years)
10
Buying costs (% of initial price)
2
Selling costs (% of final value)
3
Annual holding costs (% of initial price)
1
Annual home value change (%)
3
Initial monthly rent
1800
Annual rent change (%)
2
Effective annual investment return (%)
6
Buyer net worth at the end
$263,361.33
Renter net worth at the end
$175,866.96
Buyer minus renter net worth
$87,494.37
Home equity after sale costs and debt
$261,144.95
Final home value before sale costs
$537,566.55
Remaining loan at the end
$260,294.61
Down payment at purchase
$80,000.00
Buying costs paid once
$8,000.00
Equal initial cash for each scenario
$88,000.00
Selling costs paid once at the end
$16,127.00
Contract monthly mortgage payment
$1,717.83
Cumulative renter rent
$236,513.97
Cumulative buyer loan interest
$146,434.11
Cumulative buyer principal repaid
$59,705.39
Cumulative buyer holding costs
$40,000.00
Cumulative shared monthly budget (each side)
$248,231.10
Buyer cumulative month-end investments
$2,091.60
Renter cumulative month-end investments (excluding initial cash)
$11,717.13
Buyer final investment balance
$2,216.38
Renter final investment balance (including initial cash)
$175,866.96

Monthly values retain full precision; displayed amounts are rounded. Small displayed differences may not add exactly. Principal repayment reduces debt; it is not counted again as a cost or an extra asset.

Monthly audit: buyer housing spending is mortgage plus holding costs; renter spending is rent. Each side uses the same shared budget, investing only its own unspent difference at month end. Closing investments include growth; renter starts with the same initial cash that the buyer spends at purchase.
MonthClosing home valueClosing loan balanceMortgage paidLoan interestPrincipal repaidHolding costsRentShared budgetBuyer investsRenter investsBuyer closing investmentsRenter closing investments
1$400,986.51$319,615.50$1,717.83$1,333.33$384.50$333.33$1,800.00$2,051.16$0.00$251.16$0.00$88,679.51
2$401,975.45$319,229.41$1,717.83$1,331.73$386.10$333.33$1,800.00$2,051.16$0.00$251.16$0.00$89,362.32
3$402,966.83$318,841.70$1,717.83$1,330.12$387.71$333.33$1,800.00$2,051.16$0.00$251.16$0.00$90,048.46
4$403,960.65$318,452.38$1,717.83$1,328.51$389.32$333.33$1,800.00$2,051.16$0.00$251.16$0.00$90,737.94
5$404,956.93$318,061.43$1,717.83$1,326.88$390.94$333.33$1,800.00$2,051.16$0.00$251.16$0.00$91,430.77
6$405,955.66$317,668.86$1,717.83$1,325.26$392.57$333.33$1,800.00$2,051.16$0.00$251.16$0.00$92,126.98
7$406,956.86$317,274.65$1,717.83$1,323.62$394.21$333.33$1,800.00$2,051.16$0.00$251.16$0.00$92,826.57
8$407,960.52$316,878.80$1,717.83$1,321.98$395.85$333.33$1,800.00$2,051.16$0.00$251.16$0.00$93,529.57
9$408,966.66$316,481.30$1,717.83$1,320.33$397.50$333.33$1,800.00$2,051.16$0.00$251.16$0.00$94,236.00
10$409,975.29$316,082.14$1,717.83$1,318.67$399.16$333.33$1,800.00$2,051.16$0.00$251.16$0.00$94,945.86
11$410,986.40$315,681.32$1,717.83$1,317.01$400.82$333.33$1,800.00$2,051.16$0.00$251.16$0.00$95,659.17
12$412,000.00$315,278.83$1,717.83$1,315.34$402.49$333.33$1,800.00$2,051.16$0.00$251.16$0.00$96,375.96
13$413,016.10$314,874.66$1,717.83$1,313.66$404.17$333.33$1,836.00$2,051.16$0.00$215.16$0.00$97,060.24
14$414,034.71$314,468.81$1,717.83$1,311.98$405.85$333.33$1,836.00$2,051.16$0.00$215.16$0.00$97,747.85
15$415,055.83$314,061.27$1,717.83$1,310.29$407.54$333.33$1,836.00$2,051.16$0.00$215.16$0.00$98,438.80
16$416,079.47$313,652.03$1,717.83$1,308.59$409.24$333.33$1,836.00$2,051.16$0.00$215.16$0.00$99,133.12
17$417,105.64$313,241.08$1,717.83$1,306.88$410.95$333.33$1,836.00$2,051.16$0.00$215.16$0.00$99,830.82
18$418,134.33$312,828.43$1,717.83$1,305.17$412.66$333.33$1,836.00$2,051.16$0.00$215.16$0.00$100,531.91
19$419,165.56$312,414.05$1,717.83$1,303.45$414.38$333.33$1,836.00$2,051.16$0.00$215.16$0.00$101,236.42
20$420,199.34$311,997.94$1,717.83$1,301.73$416.10$333.33$1,836.00$2,051.16$0.00$215.16$0.00$101,944.36
21$421,235.66$311,580.11$1,717.83$1,299.99$417.84$333.33$1,836.00$2,051.16$0.00$215.16$0.00$102,655.74
22$422,274.55$311,160.53$1,717.83$1,298.25$419.58$333.33$1,836.00$2,051.16$0.00$215.16$0.00$103,370.58
23$423,315.99$310,739.20$1,717.83$1,296.50$421.33$333.33$1,836.00$2,051.16$0.00$215.16$0.00$104,088.91
24$424,360.00$310,316.12$1,717.83$1,294.75$423.08$333.33$1,836.00$2,051.16$0.00$215.16$0.00$104,810.73
25$425,406.59$309,891.27$1,717.83$1,292.98$424.85$333.33$1,872.72$2,051.16$0.00$178.44$0.00$105,499.34
26$426,455.75$309,464.66$1,717.83$1,291.21$426.62$333.33$1,872.72$2,051.16$0.00$178.44$0.00$106,191.31
27$427,507.51$309,036.26$1,717.83$1,289.44$428.39$333.33$1,872.72$2,051.16$0.00$178.44$0.00$106,886.64
28$428,561.86$308,606.09$1,717.83$1,287.65$430.18$333.33$1,872.72$2,051.16$0.00$178.44$0.00$107,585.36
29$429,618.81$308,174.12$1,717.83$1,285.86$431.97$333.33$1,872.72$2,051.16$0.00$178.44$0.00$108,287.48
30$430,678.36$307,740.34$1,717.83$1,284.06$433.77$333.33$1,872.72$2,051.16$0.00$178.44$0.00$108,993.02
31$431,740.53$307,304.77$1,717.83$1,282.25$435.58$333.33$1,872.72$2,051.16$0.00$178.44$0.00$109,701.99
32$432,805.32$306,867.37$1,717.83$1,280.44$437.39$333.33$1,872.72$2,051.16$0.00$178.44$0.00$110,414.41
33$433,872.73$306,428.16$1,717.83$1,278.61$439.22$333.33$1,872.72$2,051.16$0.00$178.44$0.00$111,130.30
34$434,942.78$305,987.11$1,717.83$1,276.78$441.05$333.33$1,872.72$2,051.16$0.00$178.44$0.00$111,849.68
35$436,015.47$305,544.23$1,717.83$1,274.95$442.88$333.33$1,872.72$2,051.16$0.00$178.44$0.00$112,572.55
36$437,090.80$305,099.50$1,717.83$1,273.10$444.73$333.33$1,872.72$2,051.16$0.00$178.44$0.00$113,298.95
37$438,168.78$304,652.92$1,717.83$1,271.25$446.58$333.33$1,910.17$2,051.16$0.00$140.99$0.00$113,991.42
38$439,249.43$304,204.48$1,717.83$1,269.39$448.44$333.33$1,910.17$2,051.16$0.00$140.99$0.00$114,687.27
39$440,332.73$303,754.17$1,717.83$1,267.52$450.31$333.33$1,910.17$2,051.16$0.00$140.99$0.00$115,386.51
40$441,418.71$303,301.98$1,717.83$1,265.64$452.19$333.33$1,910.17$2,051.16$0.00$140.99$0.00$116,089.14
41$442,507.37$302,847.91$1,717.83$1,263.76$454.07$333.33$1,910.17$2,051.16$0.00$140.99$0.00$116,795.20
42$443,598.71$302,391.95$1,717.83$1,261.87$455.96$333.33$1,910.17$2,051.16$0.00$140.99$0.00$117,504.70
43$444,692.75$301,934.09$1,717.83$1,259.97$457.86$333.33$1,910.17$2,051.16$0.00$140.99$0.00$118,217.64
44$445,789.48$301,474.32$1,717.83$1,258.06$459.77$333.33$1,910.17$2,051.16$0.00$140.99$0.00$118,934.06
45$446,888.92$301,012.63$1,717.83$1,256.14$461.69$333.33$1,910.17$2,051.16$0.00$140.99$0.00$119,653.97
46$447,991.07$300,549.02$1,717.83$1,254.22$463.61$333.33$1,910.17$2,051.16$0.00$140.99$0.00$120,377.38
47$449,095.93$300,083.48$1,717.83$1,252.29$465.54$333.33$1,910.17$2,051.16$0.00$140.99$0.00$121,104.31
48$450,203.52$299,616.00$1,717.83$1,250.35$467.48$333.33$1,910.17$2,051.16$0.00$140.99$0.00$121,834.78
49$451,313.85$299,146.57$1,717.83$1,248.40$469.43$333.33$1,948.38$2,051.16$0.00$102.78$0.00$122,530.60
50$452,426.91$298,675.18$1,717.83$1,246.44$471.39$333.33$1,948.38$2,051.16$0.00$102.78$0.00$123,229.81
51$453,542.72$298,201.83$1,717.83$1,244.48$473.35$333.33$1,948.38$2,051.16$0.00$102.78$0.00$123,932.42
52$454,661.27$297,726.51$1,717.83$1,242.51$475.32$333.33$1,948.38$2,051.16$0.00$102.78$0.00$124,638.45
53$455,782.59$297,249.21$1,717.83$1,240.53$477.30$333.33$1,948.38$2,051.16$0.00$102.78$0.00$125,347.92
54$456,906.67$296,769.92$1,717.83$1,238.54$479.29$333.33$1,948.38$2,051.16$0.00$102.78$0.00$126,060.84
55$458,033.53$296,288.63$1,717.83$1,236.54$481.29$333.33$1,948.38$2,051.16$0.00$102.78$0.00$126,777.23
56$459,163.16$295,805.34$1,717.83$1,234.54$483.29$333.33$1,948.38$2,051.16$0.00$102.78$0.00$127,497.11
57$460,295.58$295,320.03$1,717.83$1,232.52$485.31$333.33$1,948.38$2,051.16$0.00$102.78$0.00$128,220.50
58$461,430.80$294,832.70$1,717.83$1,230.50$487.33$333.33$1,948.38$2,051.16$0.00$102.78$0.00$128,947.40
59$462,568.81$294,343.34$1,717.83$1,228.47$489.36$333.33$1,948.38$2,051.16$0.00$102.78$0.00$129,677.84
60$463,709.63$293,851.94$1,717.83$1,226.43$491.40$333.33$1,948.38$2,051.16$0.00$102.78$0.00$130,411.84
61$464,853.26$293,358.50$1,717.83$1,224.38$493.45$333.33$1,987.35$2,051.16$0.00$63.82$0.00$131,110.45
62$465,999.72$292,862.99$1,717.83$1,222.33$495.50$333.33$1,987.35$2,051.16$0.00$63.82$0.00$131,812.45
63$467,149.00$292,365.43$1,717.83$1,220.26$497.57$333.33$1,987.35$2,051.16$0.00$63.82$0.00$132,517.87
64$468,301.11$291,865.79$1,717.83$1,218.19$499.64$333.33$1,987.35$2,051.16$0.00$63.82$0.00$133,226.73
65$469,456.07$291,364.07$1,717.83$1,216.11$501.72$333.33$1,987.35$2,051.16$0.00$63.82$0.00$133,939.03
66$470,613.87$290,860.25$1,717.83$1,214.02$503.81$333.33$1,987.35$2,051.16$0.00$63.82$0.00$134,654.80
67$471,774.54$290,354.34$1,717.83$1,211.92$505.91$333.33$1,987.35$2,051.16$0.00$63.82$0.00$135,374.06
68$472,938.06$289,846.32$1,717.83$1,209.81$508.02$333.33$1,987.35$2,051.16$0.00$63.82$0.00$136,096.82
69$474,104.45$289,336.19$1,717.83$1,207.69$510.14$333.33$1,987.35$2,051.16$0.00$63.82$0.00$136,823.09
70$475,273.72$288,823.92$1,717.83$1,205.57$512.26$333.33$1,987.35$2,051.16$0.00$63.82$0.00$137,552.90
71$476,445.87$288,309.53$1,717.83$1,203.43$514.40$333.33$1,987.35$2,051.16$0.00$63.82$0.00$138,286.26
72$477,620.92$287,792.99$1,717.83$1,201.29$516.54$333.33$1,987.35$2,051.16$0.00$63.82$0.00$139,023.20
73$478,798.86$287,274.30$1,717.83$1,199.14$518.69$333.33$2,027.09$2,051.16$0.00$24.07$0.00$139,723.97
74$479,979.71$286,753.44$1,717.83$1,196.98$520.85$333.33$2,027.09$2,051.16$0.00$24.07$0.00$140,428.15
75$481,163.47$286,230.42$1,717.83$1,194.81$523.02$333.33$2,027.09$2,051.16$0.00$24.07$0.00$141,135.76
76$482,350.15$285,705.22$1,717.83$1,192.63$525.20$333.33$2,027.09$2,051.16$0.00$24.07$0.00$141,846.82
77$483,539.75$285,177.83$1,717.83$1,190.44$527.39$333.33$2,027.09$2,051.16$0.00$24.07$0.00$142,561.34
78$484,732.29$284,648.24$1,717.83$1,188.24$529.59$333.33$2,027.09$2,051.16$0.00$24.07$0.00$143,279.33
79$485,927.77$284,116.45$1,717.83$1,186.03$531.79$333.33$2,027.09$2,051.16$0.00$24.07$0.00$144,000.82
80$487,126.20$283,582.43$1,717.83$1,183.82$534.01$333.33$2,027.09$2,051.16$0.00$24.07$0.00$144,725.82
81$488,327.59$283,046.20$1,717.83$1,181.59$536.24$333.33$2,027.09$2,051.16$0.00$24.07$0.00$145,454.35
82$489,531.93$282,507.73$1,717.83$1,179.36$538.47$333.33$2,027.09$2,051.16$0.00$24.07$0.00$146,186.43
83$490,739.25$281,967.02$1,717.83$1,177.12$540.71$333.33$2,027.09$2,051.16$0.00$24.07$0.00$146,922.07
84$491,949.55$281,424.05$1,717.83$1,174.86$542.97$333.33$2,027.09$2,051.16$0.00$24.07$0.00$147,661.29
85$493,162.83$280,878.82$1,717.83$1,172.60$545.23$333.33$2,067.63$2,067.63$16.47$0.00$16.47$148,380.04
86$494,379.10$280,331.32$1,717.83$1,170.33$547.50$333.33$2,067.63$2,067.63$16.47$0.00$33.02$149,102.29
87$495,598.37$279,781.54$1,717.83$1,168.05$549.78$333.33$2,067.63$2,067.63$16.47$0.00$49.66$149,828.05
88$496,820.65$279,229.46$1,717.83$1,165.76$552.07$333.33$2,067.63$2,067.63$16.47$0.00$66.37$150,557.34
89$498,045.94$278,675.09$1,717.83$1,163.46$554.37$333.33$2,067.63$2,067.63$16.47$0.00$83.16$151,290.19
90$499,274.26$278,118.41$1,717.83$1,161.15$556.68$333.33$2,067.63$2,067.63$16.47$0.00$100.04$152,026.60
91$500,505.60$277,559.41$1,717.83$1,158.83$559.00$333.33$2,067.63$2,067.63$16.47$0.00$117.00$152,766.60
92$501,739.99$276,998.07$1,717.83$1,156.50$561.33$333.33$2,067.63$2,067.63$16.47$0.00$134.04$153,510.20
93$502,977.41$276,434.40$1,717.83$1,154.16$563.67$333.33$2,067.63$2,067.63$16.47$0.00$151.16$154,257.42
94$504,217.89$275,868.38$1,717.83$1,151.81$566.02$333.33$2,067.63$2,067.63$16.47$0.00$168.37$155,008.27
95$505,461.43$275,300.01$1,717.83$1,149.45$568.38$333.33$2,067.63$2,067.63$16.47$0.00$185.66$155,762.78
96$506,708.03$274,729.26$1,717.83$1,147.08$570.75$333.33$2,067.63$2,067.63$16.47$0.00$203.04$156,520.97
97$507,957.71$274,156.14$1,717.83$1,144.71$573.12$333.33$2,108.99$2,108.99$57.82$0.00$261.85$157,282.84
98$509,210.47$273,580.62$1,717.83$1,142.32$575.51$333.33$2,108.99$2,108.99$57.82$0.00$320.95$158,048.42
99$510,466.32$273,002.71$1,717.83$1,139.92$577.91$333.33$2,108.99$2,108.99$57.82$0.00$380.34$158,817.73
100$511,725.27$272,422.40$1,717.83$1,137.51$580.32$333.33$2,108.99$2,108.99$57.82$0.00$440.01$159,590.78
101$512,987.32$271,839.66$1,717.83$1,135.09$582.74$333.33$2,108.99$2,108.99$57.82$0.00$499.98$160,367.60
102$514,252.49$271,254.50$1,717.83$1,132.67$585.16$333.33$2,108.99$2,108.99$57.82$0.00$560.24$161,148.20
103$515,520.77$270,666.89$1,717.83$1,130.23$587.60$333.33$2,108.99$2,108.99$57.82$0.00$620.79$161,932.60
104$516,792.19$270,076.84$1,717.83$1,127.78$590.05$333.33$2,108.99$2,108.99$57.82$0.00$681.63$162,720.81
105$518,066.74$269,484.34$1,717.83$1,125.32$592.51$333.33$2,108.99$2,108.99$57.82$0.00$742.78$163,512.86
106$519,344.43$268,889.36$1,717.83$1,122.85$594.98$333.33$2,108.99$2,108.99$57.82$0.00$804.22$164,308.77
107$520,625.27$268,291.90$1,717.83$1,120.37$597.46$333.33$2,108.99$2,108.99$57.82$0.00$865.96$165,108.55
108$521,909.27$267,691.95$1,717.83$1,117.88$599.95$333.33$2,108.99$2,108.99$57.82$0.00$927.99$165,912.23
109$523,196.44$267,089.51$1,717.83$1,115.38$602.45$333.33$2,151.17$2,151.17$100.00$0.00$1,032.52$166,719.81
110$524,486.79$266,484.55$1,717.83$1,112.87$604.96$333.33$2,151.17$2,151.17$100.00$0.00$1,137.55$167,531.33
111$525,780.31$265,877.08$1,717.83$1,110.35$607.48$333.33$2,151.17$2,151.17$100.00$0.00$1,243.09$168,346.80
112$527,077.03$265,267.07$1,717.83$1,107.82$610.01$333.33$2,151.17$2,151.17$100.00$0.00$1,349.14$169,166.23
113$528,376.94$264,654.52$1,717.83$1,105.28$612.55$333.33$2,151.17$2,151.17$100.00$0.00$1,455.71$169,989.66
114$529,680.06$264,039.42$1,717.83$1,102.73$615.10$333.33$2,151.17$2,151.17$100.00$0.00$1,562.80$170,817.09
115$530,986.40$263,421.75$1,717.83$1,100.16$617.66$333.33$2,151.17$2,151.17$100.00$0.00$1,670.41$171,648.55
116$532,295.95$262,801.51$1,717.83$1,097.59$620.24$333.33$2,151.17$2,151.17$100.00$0.00$1,778.55$172,484.06
117$533,608.74$262,178.69$1,717.83$1,095.01$622.82$333.33$2,151.17$2,151.17$100.00$0.00$1,887.21$173,323.63
118$534,924.76$261,553.27$1,717.83$1,092.41$625.42$333.33$2,151.17$2,151.17$100.00$0.00$1,996.40$174,167.30
119$536,244.03$260,925.25$1,717.83$1,089.81$628.02$333.33$2,151.17$2,151.17$100.00$0.00$2,106.12$175,015.06
120$537,566.55$260,294.61$1,717.83$1,087.19$630.64$333.33$2,151.17$2,151.17$100.00$0.00$2,216.38$175,866.96

Results use the stated assumptions and model. They are educational, not financial advice or predictions.

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How this rent versus buy model works

The buyer pays initial price × down payment percentage plus buying costs at purchase. The renter invests that same cash immediately. Loan principal = initial price × (1 − down payment percentage). Fixed nominal APR is divided by 12; the mortgage uses the loan calculator’s unrounded monthly schedule, including the actual final payment. At 100% down there is no loan.

Each month the home changes by (1 + annual home change)^(1/12) − 1. Holding costs stay fixed at initial price × annual holding cost percentage / 12. Rent stays fixed for months 1–12, then changes each full year. The shared monthly budget equals the higher of rent and mortgage plus holding costs. The lower-cost side invests the difference at month end, after its existing account grows by (1 + annual investment return)^(1/12) − 1. This budget may change over time and is not an affordability estimate. The model invests differences for either side, including after the loan ends.

Worked illustration: a 1,200 home, 0% down, 0% APR, a 12-month loan, one comparison year, no buying, selling or holding costs, no home or rent change, monthly rent of 80, and 0% investment return. Both sides have zero initial cash and a monthly budget of 100. The renter pays 960 rent and invests 240; the buyer repays 1,200 principal and finishes with home equity of 1,200 and no debt. No principal is added to equity a second time.

At the common end date the home is assumed sold: buyer net worth = final home value − selling costs − remaining debt + buyer investments; renter net worth = renter investments. Buying costs are paid once at purchase and selling costs once at the end. Educational fixed-parameter scenario only, not financial advice, a forecast, or a loan quote. No tax deductions, regional tax rates, separate insurance/HOA, rental deposits, unpredictable maintenance, PMI, property market data, refinancing, or predictions of owner-occupier benefits. A low down payment does not imply loan availability.

FAQ

Why invest the difference for either side?

Each side receives equal initial resources and the same monthly budget. The budget is the higher housing cost that month, so the lower-cost side invests what remains. If costs cross or the mortgage ends, the direction of these investments can change. Ignoring this would compare different cash resources.

Can buying produce negative net worth?

Yes. A falling home value or selling costs can leave sale proceeds below the remaining debt. This negative equity is retained and combined with buyer investments. Mortgage principal reduces debt; it is not treated as interest or added twice to home equity.

Does the result tell me whether to rent or buy?

No. It compares only your fixed assumptions and an assumed sale date. Actual returns, rents, property values, lending terms, taxes, and maintenance may differ. It omits nonfinancial preferences and does not assess affordability or recommend an action.

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