Rent vs Buy Calculator
Renting comes out ahead after 7 years by
$1,153
- Net worth if you buy
- $151,463
- Net worth if you rent and invest
- $152,616
- Home value at end
- $430,456
- Mortgage balance at end
- $253,165
- Monthly mortgage payment (P&I)
- $1,769.79
- Total spent owning (incl. down and closing)
- $296,752
- Total rent paid
- $183,899
Ignores income tax effects such as the mortgage interest deduction and capital gains rules.
Net worth by year7 rows
| Year | Buy | Rent | Buy minus rent |
|---|---|---|---|
| 1 | $62,000 | $90,853 | -$28,853 |
| 2 | $75,505 | $101,215 | -$25,710 |
| 3 | $89,539 | $111,573 | -$22,034 |
| 4 | $104,126 | $121,910 | -$17,784 |
| 5 | $119,290 | $132,208 | -$12,918 |
| 6 | $135,060 | $142,450 | -$7,390 |
| 7 | $151,463 | $152,616 | -$1,153 |