Compare your monthly rent against the true monthly cost of owning a home.
Estimates only — not financial advice. Excludes appreciation, closing costs, and tax effects. Verify with your lender/advisor.
A rent vs buy calculator lines up your monthly rent against the full monthly cost of owning — mortgage payment plus property tax, insurance, and maintenance — so you can see at a glance which option is cheaper each month.
It compares your monthly rent against the full monthly cost of owning: the mortgage principal and interest payment plus monthly property tax, homeowners insurance, and a maintenance estimate. The lower monthly total tells you which option costs less each month. Results are estimates, not financial advice.
The owning total adds four parts: the mortgage payment (principal and interest on the home price minus your down payment), monthly property tax, monthly homeowners insurance, and an estimated monthly maintenance cost. It does not model home-price appreciation or tax deductions.
No. Buying can cost more per month than renting once you add property tax, insurance, and maintenance on top of the mortgage. Whether buying makes sense also depends on how long you stay, closing costs, and home-price changes, which this simple monthly comparison does not include.