Rent vs. Buy calculator
Is it best to rent or buy in the city you are considering?
Buying will be $1,877 cheaper per month
Buying
$1,205/monthly avg
Initial costs$103,500
Recurring costs$409,259
Opportunity costs$0
Net proceeds-$353,689
Total cost$159,069
Renting
$3,082/monthly avg
Initial costs$2,000
Recurring costs$307,387
Opportunity costs$99,437
Net proceeds-$2,000
Total cost$406,824
How we calculate renting and buying costs
The HASS Rent vs. Buy Calculator uses information you provide to estimate the monthly and total costs of renting or buying your next home. It considers initial costs, recurring costs, opportunity costs and net proceeds.
Initial costs
Initial costs are things you pay when you first move into a new place. For buyers, these include down payment and closing costs which are often around 2-5% of purchase price.
Recurring costs
These are ongoing costs associated with living in a home. For buyers, this includes mortgage, property taxes, insurance, and maintenance.