Rent vs Buy Calculator
Compare the monthly cost of buying a home with a loan against renting a similar place.
Quick answer: enter your details below and click Calculate — your result appears instantly, right here in your browser. Nothing you enter is uploaded or stored.
R
Calculators
Enter your details below.
How to use
- Enter the home price, down payment, rate and loan term.
- Enter the monthly rent for a comparable place.
- Press Calculate to compare the buy payment with the rent.
About this tool
Buying is priced as a standard mortgage payment: the loan is the price minus the down payment, repaid over the term at the given rate. That monthly payment is then set beside your monthly rent, so you can see the cash difference each month and which option is cheaper on a purely monthly basis.
Frequently asked questions
Does cheaper monthly mean better overall?
Not necessarily. Buying builds equity and can gain value, but it also brings maintenance, taxes and selling costs that rent does not. This tool compares monthly cash only.
Why is the buy payment sometimes lower than rent?
A large down payment, a low rate or a long term can all push the mortgage payment below rent, especially where rents are high.