How to use this rent vs. buy calculator
Enter the values requested above and select Calculate. Change any input to compare another scenario. The calculation runs locally in your browser and does not require an account.
Formula and method
Example
Compare five years of $2,000 monthly rent with buying a $350,000 home using your expected rate, down payment and ownership costs.
Tips for a useful result
Change assumptions rather than relying on a single scenario; rent growth and home appreciation can materially change the result.
What this calculator is useful for
Compare estimated housing cost over a chosen period for renting versus buying a home. The result is intended for quick estimates, checking arithmetic and comparing scenarios. When a result affects a contract, tax filing, medical decision, building-code requirement or other high-stakes situation, verify the result with the appropriate professional or authoritative source.
Frequently asked questions
What does the Rent vs. Buy Calculator calculate?
Compare estimated housing cost over a chosen period for renting versus buying a home.
How does the Rent vs. Buy Calculator work?
The buying side combines mortgage payments, upfront costs, annual ownership costs and estimated sale equity; the renting side totals rent with annual rent growth.
Is the Rent vs. Buy Calculator free to use?
Yes. ERICH Calculators is free to use and does not require an account.