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Rent vs Buy Calculator — Is Buying a Home Worth It?

Compare the true total cost of renting vs buying over any time horizon, accounting for equity, appreciation, and opportunity cost.

Quick answer: Renting versus buying depends on mortgage cost, rent growth, taxes, insurance, maintenance, appreciation, selling costs, and how long you stay. Time horizon often drives the answer.

Monthly Mortgage (P&I)
$2,328
Monthly Mortgage (P&I)
$2,328
Down Payment Required
$90,000
Loan Amount
$360,000
Est. Total Monthly Cost (PITI + maintenance)
$3,059
Side-by-side comparison
Break-Even Point
11.4 years
Diagnostic

Headline: $2,328.

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What to do next

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Your action plan
  1. 1

    Compare the leading option against your current setup

    See whether renting or buying is the better financial move for your market.

  2. 2

    Compare the result against current market-rate options

    Assumptions change the answer, especially when rates, taxes, or timing matter.

  3. 3

    Save the result to Money Map or use the linked next action

    Turn the result into a prioritized action instead of treating it as a one-off number.

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This is an educational estimate, not tax, legal, investment, or lending advice. Tax rules, rates, and eligibility change and depend on your full situation. Confirm with a qualified professional or the provider before acting.

Calculator action path

Turn this result into a decision

Every SwitchWize calculator connects to a product comparison, rate context, guidance, alerts, and Money Map.

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Guide
HELOC vs Home Equity Loan vs Cash-Out Refi: Which Home Equity Strategy Wins?HELOC: variable rate, flexible draw. Home equity loan: fixed rate, lump sum. Cash-out refi: replaces your mortgage with a larger one. Here's how to choose the right home equity strategy in 2026.
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About mortgage rates

Mortgage rates depend on loan type (30-yr fixed, 15-yr fixed, ARM, FHA, VA, jumbo), your credit score, down payment, points paid, loan amount, property state, and whether you're purchasing or refinancing. The calculator above uses a representative market rate for payment estimates — your actual rate will vary.

For a personalized rate comparison, use the tool below to see lenders ranked by APR, loan type, and your profile.

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30-yr fixed · 15-yr fixed · FHA · VA · ARM — ranked by APR
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Mortgage rates shown on SwitchWize compare pages include loan type, assumed FICO, LTV, and points. Representative only — verify all terms directly with the lender. Advertising disclosure

Frequently Asked Questions

Everything you need to know.

When does buying beat renting financially?
Generally after 5–7 years in most U.S. markets, accounting for transaction costs, maintenance, and opportunity cost of the down payment. In high-cost markets (NYC, SF), the break-even can be 10+ years. In lower-cost markets, it can be 3–4 years.
What costs do people forget when buying a home?
Closing costs (2–5% of purchase price), property taxes (0.5–2.5% annually), homeowners insurance ($1,000–$3,000/year), maintenance (budget 1% of home value annually), HOA fees, and the opportunity cost of the down payment invested elsewhere.
Is the Rent vs Buy Calculator — Is Buying a Home Worth It? free to use?
Yes. SwitchWize calculators are free, and you do not need an account to run scenarios or view the result.
Does using the Rent vs Buy Calculator — Is Buying a Home Worth It? affect my credit score?
No. Using a calculator does not trigger a credit check. A credit impact can occur only if you apply directly with a lender, card issuer, or provider.
Are the results personalized financial advice?
No. Calculator outputs are educational estimates based on the inputs you enter. Review assumptions and confirm terms directly with providers before making a financial decision.
What should I do after seeing the result?
Use the recommendation module on this page to compare mortgage rates, or run Money Map to compare this home & mortgage decision with your other opportunities.
How does SwitchWize choose related offers?
Related offers are matched by the calculator surface (mortgage) and ranked using SwitchWize data such as rate, fees, trust signals, product fit, and switching friction. Paid relationships do not change organic ranking order.
How fresh are the rates and offers shown?
Rate and offer data is reviewed on a recurring cadence and every offer module shows review context or links to the methodology and disclosure pages.
Where can I see the ranking methodology?
The SwitchWize methodology page explains how rate freshness, editorial review, affiliate disclosure, and category ranking factors work.
Can Money Map use this result?
Yes. Money Map is the broader diagnostic path: it compares savings, mortgage, cards, and debt so you can see whether this calculator result is your highest-impact next move.

Why This Matters

Buying is not always better than renting — it depends on how long you stay, local appreciation rates, and what you do with the down payment. This calculator runs the full math so you can make a data-driven decision.

How to Use It

  1. 1Enter the home purchase price and your rent amount
  2. 2Set down payment, interest rate, and expected appreciation
  3. 3Enter how long you plan to stay
  4. 4See the break-even point and 5/10/20-year comparison
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Rent vs Buy Calculator — Is Buying a Home Worth It? | SwitchWize