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Should you stop renting?

Rent vs. Buy Comparison

The Comparison

Rental Info
Buying Info

Potential 5-Year Benefit of Buying

$0.00

Including equity growth and rent savings

Est. Monthly Payment

$0.00

Equity After 5 Years

$0

Disclaimer: Results received from this calculator are designed for comparative purposes only, and accuracy is not guaranteed. This calculator is made available to you as an educational tool only and calculations are based on borrower-input information. This is not an advertisement for the above terms, interest rates, or payment amounts. We do not guarantee the accuracy of any information or inputs by users of the software. This calculator does not have the ability to pre-qualify you for any loan program which should be verified independently with one of our Loan Consultants. Qualification for loan programs may require additional information such as credit scores and cash reserves which is not gathered in this calculator. Information such as interest rates and pricing are user input should not be perceived as a quote. Additional fees such as HOA dues are not included in calculations. All information such as interest rates, taxes, insurance, PMI payments, etc. are estimates and should be used for comparison only. We do not guarantee any of the information obtained by this calculator. To get an accurate rate and fee quote and to be prequalified or preapproved please use the contact form to request further assistance.

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Rent vs. Buy FAQ

The breakeven point is the number of years it takes for the total cost of owning a home to become less than the total cost of renting. Generally, if you plan to stay in a home for more than 3–5 years, buying is financially superior.

Unlike rent, which is a pure expense, a home is an asset. If your home increases in value by 4% a year, that increase adds directly to your net worth. This "hidden" profit is a major reason why buying builds wealth over time.

Owning a home does come with additional costs like property taxes, homeowners insurance, and repairs. However, these are often offset by the tax deductions available to homeowners and the long-term growth of home equity.

Historically, rents tend to follow inflation. Even a modest 3% annual increase can turn a $2,500 rent payment into nearly $3,000 in just a few years. A fixed-rate mortgage locks in your principal and interest payment for the life of the loan.

Market timing is difficult. The best time to buy is usually when you are financially ready and plan to hold the property long-term. Real estate has historically proven to be a stable long-term investment regardless of short-term fluctuations.