The decision between renting and buying a home includes several important factors, including how long you plan to live at the location and the size of your family. Compare the costs of renting and buying a home with our calculator. It helps you understand the fees, taxes and monthly payments involved so you can make an informed decision. Please note that insurance and tax costs can vary from year to year.
Rent vs. Buy: Use Our Calculator to Compare
Property tax rate – The amount of tax payable per dollar of the assessed value of the property.
Home insurance rate – The amount you pay for homeowners insurance. For example, 0.5% for a $200,000 home equals $1,000 per year for homeowner's insurance.
Loan origination rate – Upfront fee lender charges for processing a new loan application.
Points paid – Fees paid to the lender at closing in return for a reduced interest rate.
After-tax investment return – The rate of after-tax return you could receive if you invested your closing costs and down payment instead of buying a home.