Compare the true cost of renting vs buying a home over any time period.
Which makes more financial sense for you?
This free calculator gives you instant, accurate results with no signup required. Use it to make smarter, more informed financial and life decisions.
Always double-check important financial decisions with a qualified professional. This calculator provides estimates for guidance purposes. Results may vary based on your specific circumstances.
With mortgage rates elevated and home prices still high in many markets, the rent-vs-buy math has shifted compared to the 2010s. Buying isn't automatically the financially superior choice anymore — it depends heavily on how long you plan to stay and local market conditions.
The breakeven point typically falls between 4-7 years in most markets — buy if you're confident you'll stay longer than that, rent if you might move sooner. Closing costs, agent fees on resale, and the slow pace of equity building in early mortgage years mean short-term ownership rarely beats renting financially.
Renting isn't "throwing money away" — it buys flexibility, predictable costs (no surprise repairs), and frees up capital that would otherwise be tied up in a down payment, capital that can be invested elsewhere for growth.
Use the calculator above with realistic assumptions for your specific market and timeline. The right answer genuinely differs by city, by person, and by how long you'll stay — there's no universal correct choice, despite how often the debate gets framed as one.