Rent vs Buy Calculator
Compare the true cost of renting versus buying a home
After 7 years, you're better off
Renting
Saving $67,635 over 7 years
Buying
Monthly Payment$2605
Home Value (7yr)$430,456
Equity Built$175,243
Net Cost$163,850
Renting
Starting Rent$2000/mo
Total Rent Paid$185,299
Investment Value$159,084
Net Cost$96,215
Important Considerations
- This calculator provides estimates - actual costs may vary
- Doesn't include closing costs, moving costs, or transaction fees
- Tax benefits of homeownership are not included
- Personal factors like job stability and lifestyle matter too
Real Estate Facts
🏠Average Home Age
The median age of homes in the US is about 40 years old
💰First-Time Buyers
First-time buyers make up about 34% of home purchases
📈Historical Returns
US home prices have averaged 3-4% annual appreciation since 1900
🔑Ownership Rate
About 65% of Americans own their homes
🏗️New Construction
Only 10-15% of home sales are newly built homes
💵Down Payment Myth
Average down payment is actually 13%, not 20%
🌍Global Comparison
Switzerland has the lowest homeownership rate at 36%
⏱️Time to Save
It takes the average buyer 7 years to save for a down payment