Compare the monthly cost of renting against owning a home — mortgage, tax, insurance and upkeep.
What this calculator does
This calculator compares your monthly rent to the monthly cost of buying: the mortgage payment plus property tax, insurance and maintenance. Enter the numbers to see which is cheaper month to month.
It’s a simple monthly comparison; a full decision also weighs equity, appreciation and how long you’ll stay.
How to fill it in
- Enter your monthly rent.
- Enter the home price, down payment and loan terms.
- Add yearly tax and upkeep to compare.
The maths behind it
own/month = mortgage + tax/12 + (insurance + maintenance)/12
compared against monthly rent
A worked example
As an example, with a monthly rent of 2,000, the calculator returns a monthly difference of $311.46. Underneath, Rent / month comes out at $2,000 and Own / month at $2,311.46. Change any field and every figure updates as you type.
Questions people ask about this
Is buying cheaper than renting?
It depends on prices, rates and costs in your area. This tool compares the monthly cash cost; owning also builds equity over time.
What costs does owning add?
Beyond the mortgage: property tax, insurance, maintenance and sometimes HOA — all included here.
What does this leave out?
Home appreciation, equity build-up, tax effects and transaction costs. It’s a monthly cash comparison, not full advice.