RENT VS. BUY
COMPARE THE MONTHLY COST
This tool compares your current monthly rent to an estimated monthly cost of owning a home, based on the numbers you enter. It is for general education only and is not a loan offer, pre-approval, or guarantee of savings. Every situation is different, so use this as a starting point for your own research.
RENT VS. BUY CALCULATOR
Renting
Buying
ESTIMATED MONTHLY COMPARISON
Renting
$0.00
Estimated total monthly rent cost
Owning
$0.00
Estimated total monthly ownership cost
Difference
$0.00
Enter your numbers above to compare.
Ownership Breakdown
Estimates only. Actual costs depend on your lender, loan program, insurance carrier, taxing authority, and other factors not reflected here.
WHAT THIS ESTIMATE INCLUDES
- Estimated monthly rent plus optional renters insurance
- Estimated monthly principal and interest based on the home price, down payment, interest rate, and loan term you enter
- Estimated monthly property taxes (your annual estimate divided by 12)
- Estimated monthly homeowners insurance (your annual estimate divided by 12)
- Monthly HOA dues, if you enter one
WHAT THIS ESTIMATE DOES NOT INCLUDE
- Private mortgage insurance (PMI) or mortgage insurance premiums (MIP)
- Closing costs or prepaid items
- Loan origination, discount points, or lender fees
- Upfront or ongoing VA, FHA, or USDA guarantee/funding fees
- Home maintenance and repair costs
- Utilities, if they differ between renting and owning
- Moving costs
- Future changes in rent
- Future changes in home value, equity, or appreciation
- Income tax effects, including any mortgage interest deduction
- Selling costs if you later sell the home
- Changes in property tax assessments over time
- Credit score, debt-to-income, or loan approval factors
MONTHLY PAYMENT IS ONLY PART OF THE DECISION
Renting May Offer
- Lower upfront costs to move in
- More flexibility to relocate
- Fewer maintenance responsibilities
- A fixed cost that does not change with market value
Buying May Offer
- The ability to build equity over time through loan paydown
- More control over the property, including changes and upgrades
- A fixed principal and interest payment for the life of a fixed-rate loan
- Potential long-term benefits, which are not guaranteed and depend on market conditions
This tool does not guarantee future home value appreciation, equity growth, or that buying will cost less than renting over time. Markets can rise or fall.
WANT TO SEE WHAT FITS YOUR BUDGET?
This calculator compares estimated monthly costs. To see what you may qualify for based on your income, debts, and down payment, check your home affordability or talk with Caesar directly about your specific situation.