A LITTLE CLARITY FOR YOUR NEXT CHAPTER

Rent vs. Buy calculator

Two paths to feeling at home. See how the costs compare over time. Change the inputs to make the estimate yours.

YOUR POSSIBILITIES, MADE CLEARER

Estimated buying advantage

$50,490

After 7 years, under these assumptions.

Buyer net value after sale

$173,101

Renter cash balance

$122,611

Remaining mortgage$289,332

House Appreciation Value$491,950

Buying Total Payments

$354,417

Renting Total Payments$202,289

Total Payments cover the selected comparison period. Buying includes the down payment, purchase closing costs, mortgage payments, owner costs, and selling fees, before sale proceeds and excluding the remaining mortgage payoff. Renting includes rent with the entered annual increases. A simplified wealth model, not a prediction. Home appreciation is an assumption. Renter cash earns no investment return; a negative balance represents a cumulative budget shortfall, not a modeled loan or overdraft. Personal flexibility and maintenance surprises matter too.

Built for perspective, not promises.
A nominal after-sale wealth comparison over your selected horizon. Uses a 30-year mortgage, annual appreciation and rent changes, and constant owner non-loan costs. The renter’s cash balance earns no investment return. No tax deductions or capital-gains taxes.

Calculator Disclaimer
This free online mortgage calculator is intended for informational purposes only. Actual interest rates and monthly payment amounts depend on market conditions, as well as various other factors, including geographic location and specific loan parameters. The calculations provided are based on the data you have entered and may not account for additional fees or costs that a lender might charge beyond the monthly principal and interest payments (such as taxes or insurance premiums); consequently, your actual financial obligations may be higher. mortgagecalculatorsite.com is not a lender, broker or financial institute, nor a party to any engagement related to financial products or transaction and does not provide loans; this information does not constitute a commitment to grant a loan.

Payments over your comparison period

Year rows show annual payment totals. Year 1 starts with your first modeled payment. Select a year to see each month. These tables exclude upfront and selling costs; the buying table also excludes owner taxes, insurance, maintenance, and HOA costs.

Buying amortization schedule

Payments include principal and interest only. Remaining balance is the mortgage balance at period end.

Buying yearly totals; expand a year for monthly payments
Year	Payment	Remaining balance
	$24,271.41	$316,423.28
Month 1	$2,022.62	$319,710.72
Month 2	$2,022.62	$319,419.86
Month 3	$2,022.62	$319,127.44
Month 4	$2,022.62	$318,833.43
Month 5	$2,022.62	$318,537.82
Month 6	$2,022.62	$318,240.62
Month 7	$2,022.62	$317,941.80
Month 8	$2,022.62	$317,641.37
Month 9	$2,022.62	$317,339.31
Month 10	$2,022.62	$317,035.62
Month 11	$2,022.62	$316,730.27
Month 12	$2,022.62	$316,423.28
	$24,271.41	$312,607.02
Month 13	$2,022.62	$316,114.62
Month 14	$2,022.62	$315,804.29
Month 15	$2,022.62	$315,492.28
Month 16	$2,022.62	$315,178.58
Month 17	$2,022.62	$314,863.18
Month 18	$2,022.62	$314,546.07
Month 19	$2,022.62	$314,227.24
Month 20	$2,022.62	$313,906.69
Month 21	$2,022.62	$313,584.40
Month 22	$2,022.62	$313,260.36
Month 23	$2,022.62	$312,934.57
Month 24	$2,022.62	$312,607.02
	$24,271.41	$308,535.17
Month 25	$2,022.62	$312,277.69
Month 26	$2,022.62	$311,946.57
Month 27	$2,022.62	$311,613.67
Month 28	$2,022.62	$311,278.96
Month 29	$2,022.62	$310,942.43
Month 30	$2,022.62	$310,604.09
Month 31	$2,022.62	$310,263.91
Month 32	$2,022.62	$309,921.89
Month 33	$2,022.62	$309,578.01
Month 34	$2,022.62	$309,232.28
Month 35	$2,022.62	$308,884.67
Month 36	$2,022.62	$308,535.17
	$24,271.41	$304,190.63
Month 37	$2,022.62	$308,183.79
Month 38	$2,022.62	$307,830.50
Month 39	$2,022.62	$307,475.30
Month 40	$2,022.62	$307,118.17
Month 41	$2,022.62	$306,759.11
Month 42	$2,022.62	$306,398.10
Month 43	$2,022.62	$306,035.14
Month 44	$2,022.62	$305,670.22
Month 45	$2,022.62	$305,303.31
Month 46	$2,022.62	$304,934.42
Month 47	$2,022.62	$304,563.53
Month 48	$2,022.62	$304,190.63
	$24,271.41	$299,555.13
Month 49	$2,022.62	$303,815.71
Month 50	$2,022.62	$303,438.76
Month 51	$2,022.62	$303,059.77
Month 52	$2,022.62	$302,678.73
Month 53	$2,022.62	$302,295.62
Month 54	$2,022.62	$301,910.44
Month 55	$2,022.62	$301,523.17
Month 56	$2,022.62	$301,133.80
Month 57	$2,022.62	$300,742.33
Month 58	$2,022.62	$300,348.73
Month 59	$2,022.62	$299,953.00
Month 60	$2,022.62	$299,555.13
	$24,271.41	$294,609.18
Month 61	$2,022.62	$299,155.10
Month 62	$2,022.62	$298,752.91
Month 63	$2,022.62	$298,348.53
Month 64	$2,022.62	$297,941.97
Month 65	$2,022.62	$297,533.20
Month 66	$2,022.62	$297,122.23
Month 67	$2,022.62	$296,709.02
Month 68	$2,022.62	$296,293.58
Month 69	$2,022.62	$295,875.88
Month 70	$2,022.62	$295,455.93
Month 71	$2,022.62	$295,033.69
Month 72	$2,022.62	$294,609.18
	$24,271.41	$289,331.98
Month 73	$2,022.62	$294,182.36
Month 74	$2,022.62	$293,753.23
Month 75	$2,022.62	$293,321.77
Month 76	$2,022.62	$292,887.98
Month 77	$2,022.62	$292,451.84
Month 78	$2,022.62	$292,013.34
Month 79	$2,022.62	$291,572.46
Month 80	$2,022.62	$291,129.19
Month 81	$2,022.62	$290,683.52
Month 82	$2,022.62	$290,235.44
Month 83	$2,022.62	$289,784.93
Month 84	$2,022.62	$289,331.98

Renting payment schedule

Payments include rent and your annual rent increases. Renting has no loan balance; the last column shows total rent paid so far.

Renting yearly totals; expand a year for monthly payments
Year	Payment	Cumulative rent
	$26,400.00	$26,400.00
Month 1	$2,200.00	$2,200.00
Month 2	$2,200.00	$4,400.00
Month 3	$2,200.00	$6,600.00
Month 4	$2,200.00	$8,800.00
Month 5	$2,200.00	$11,000.00
Month 6	$2,200.00	$13,200.00
Month 7	$2,200.00	$15,400.00
Month 8	$2,200.00	$17,600.00
Month 9	$2,200.00	$19,800.00
Month 10	$2,200.00	$22,000.00
Month 11	$2,200.00	$24,200.00
Month 12	$2,200.00	$26,400.00
	$27,192.00	$53,592.00
Month 13	$2,266.00	$28,666.00
Month 14	$2,266.00	$30,932.00
Month 15	$2,266.00	$33,198.00
Month 16	$2,266.00	$35,464.00
Month 17	$2,266.00	$37,730.00
Month 18	$2,266.00	$39,996.00
Month 19	$2,266.00	$42,262.00
Month 20	$2,266.00	$44,528.00
Month 21	$2,266.00	$46,794.00
Month 22	$2,266.00	$49,060.00
Month 23	$2,266.00	$51,326.00
Month 24	$2,266.00	$53,592.00
	$28,007.76	$81,599.76
Month 25	$2,333.98	$55,925.98
Month 26	$2,333.98	$58,259.96
Month 27	$2,333.98	$60,593.94
Month 28	$2,333.98	$62,927.92
Month 29	$2,333.98	$65,261.90
Month 30	$2,333.98	$67,595.88
Month 31	$2,333.98	$69,929.86
Month 32	$2,333.98	$72,263.84
Month 33	$2,333.98	$74,597.82
Month 34	$2,333.98	$76,931.80
Month 35	$2,333.98	$79,265.78
Month 36	$2,333.98	$81,599.76
	$28,847.99	$110,447.75
Month 37	$2,404.00	$84,003.76
Month 38	$2,404.00	$86,407.76
Month 39	$2,404.00	$88,811.76
Month 40	$2,404.00	$91,215.76
Month 41	$2,404.00	$93,619.76
Month 42	$2,404.00	$96,023.76
Month 43	$2,404.00	$98,427.76
Month 44	$2,404.00	$100,831.76
Month 45	$2,404.00	$103,235.75
Month 46	$2,404.00	$105,639.75
Month 47	$2,404.00	$108,043.75
Month 48	$2,404.00	$110,447.75
	$29,713.43	$140,161.19
Month 49	$2,476.12	$112,923.87
Month 50	$2,476.12	$115,399.99
Month 51	$2,476.12	$117,876.11
Month 52	$2,476.12	$120,352.23
Month 53	$2,476.12	$122,828.35
Month 54	$2,476.12	$125,304.47
Month 55	$2,476.12	$127,780.59
Month 56	$2,476.12	$130,256.71
Month 57	$2,476.12	$132,732.83
Month 58	$2,476.12	$135,208.95
Month 59	$2,476.12	$137,685.07
Month 60	$2,476.12	$140,161.19
	$30,604.84	$170,766.02
Month 61	$2,550.40	$142,711.59
Month 62	$2,550.40	$145,261.99
Month 63	$2,550.40	$147,812.39
Month 64	$2,550.40	$150,362.80
Month 65	$2,550.40	$152,913.20
Month 66	$2,550.40	$155,463.60
Month 67	$2,550.40	$158,014.01
Month 68	$2,550.40	$160,564.41
Month 69	$2,550.40	$163,114.81
Month 70	$2,550.40	$165,665.22
Month 71	$2,550.40	$168,215.62
Month 72	$2,550.40	$170,766.02
	$31,522.98	$202,289.00
Month 73	$2,626.92	$173,392.94
Month 74	$2,626.92	$176,019.85
Month 75	$2,626.92	$178,646.77
Month 76	$2,626.92	$181,273.68
Month 77	$2,626.92	$183,900.60
Month 78	$2,626.92	$186,527.51
Month 79	$2,626.92	$189,154.43
Month 80	$2,626.92	$191,781.34
Month 81	$2,626.92	$194,408.26
Month 82	$2,626.92	$197,035.17
Month 83	$2,626.92	$199,662.09
Month 84	$2,626.92	$202,289.00

How this calculator works

A nominal after-sale wealth comparison over your selected horizon. Uses a 30-year mortgage, annual appreciation and rent changes, and constant owner non-loan costs. The renter’s cash balance earns no investment return. No tax deductions or capital-gains taxes.

Buyer net value = future home value − remaining mortgage − selling costs. Renter cash balance = buyer’s upfront cash + cumulative monthly owner-vs-renter cost differences, with no investment growth.

Make the estimate more useful

Start with your own budget and a written lender quote. Change one input at a time to see what drives the result. Keep a separate allowance for costs that are not included in this tool.

Know the limits

Read the CFPB’s Loan Estimate explainer to understand a real lender quote.

Should you buy a home or keep renting?

Buying can provide a place to settle and an opportunity to build equity. Renting can preserve flexibility and leave more cash available for other priorities. The better choice depends on local prices, your expected stay, the full cost of each option, and how much uncertainty your budget can absorb. A smaller monthly mortgage payment alone does not settle the question.

Compare similar homes over the same period

Start with a purchase price and rent for homes that meet similar needs in the same area. Enter how many years you expect to live there, then use that period for both choices. This calculator models buying with a fixed-rate, 30-year mortgage and selling at the end of your selected period. Its result is a comparison under your assumptions, not a forecast of what a particular property will earn.

Try a shorter stay as well as your intended timeline. Purchase closing costs and selling fees can matter more when spread over fewer years. The CFPB’s homebuying considerations explain why the costs of entering and leaving homeownership deserve attention before committing to a move.

Look beyond rent versus principal and interest

A buyer’s budget also needs room for property taxes, insurance, maintenance, association dues, and any applicable mortgage insurance. Use the combined owner-cost field to include the recurring expenses relevant to your home. The model keeps that amount constant; it does not separately forecast a roof replacement or an increase in insurance. Keep an emergency reserve outside the estimate. For a closer look at loan payments, use the mortgage calculator.

For renting, use the monthly rent and an assumed annual rent increase. Total Payments in this tool includes rent only on the renting side. Budget separately for renter’s insurance, deposits, utilities, moving, and lease charges where applicable. Fannie Mae’s rent-versus-buy comparison outlines common upfront and ongoing expenses for each choice.

Understand cash paid versus equity retained

Buying Total Payments adds your down payment, purchase closing costs, mortgage payments made during the comparison, recurring owner costs, and estimated selling fees. Renting Total Payments adds rent over the same period, including the annual increases you enter. These are cash outflows, not a complete measure of the financial advantage of either option.

Part of a mortgage payment repays principal and reduces the outstanding loan. Buyer net value after sale is the modeled sale price minus selling fees and the remaining mortgage. The renter cash balance starts with the money the buyer would spend upfront and adds or subtracts the monthly cost differences. That cash earns no investment return here. A negative balance represents a budget shortfall, not an actual overdraft or loan.

Test appreciation and rent assumptions

House Appreciation Value shows the estimated full property value at the end of the period, rather than just the increase in value. Appreciation is uncertain. Compare your starting estimate with zero growth and a possible decline, and consider different rent-growth assumptions. A result that changes direction after a small adjustment deserves more scrutiny than one that remains similar across several plausible scenarios.

Include your plans and financial breathing room

Consider how a job change, growing household, or unexpected move would affect each option. Renting may suit a period of transition; buying may fit plans for a longer stay and more control over the property. Neither choice guarantees a better outcome. Check whether the upfront cash and ongoing commitments leave room for emergencies and other goals; the home affordability calculator can help explore a purchase budget.

Confirm local costs and actual loan terms before deciding. This tool excludes tax deductions, capital-gains taxes, investment growth, and expenses not entered in its fields. It provides a planning comparison, not personalized financial or tax advice.

Questions, answered.

Loading calculator…