Rent vs. Own Calculator
See the estimated total cost of renting vs. buying over the time you plan to stay — including equity built, appreciation, taxes, and the opportunity cost of your down payment.
Your Numbers
Renting
Buying
Ongoing Costs
Varies by county — check your local rate.
Estimate as a % of home value.
Assumptions
An estimate, not a guarantee.
Optional Factors
Owning becomes cheaper than renting in Year 6, based on these numbers.
You plan to stay 7 years — so you’d pass the break-even point with 1 year to spare.
Total Cost — Renting
$165,509
over 7 years
Total Cost — Owning
$150,779
net of equity & selling costs
7-Year Difference
$14,730
cheaper to own
Cumulative Cost Over Time
Year by Year
Cumulative costs as of the end of each year
| Year | Renting | Owning | Difference |
|---|---|---|---|
| Year 1 | $21,600 | $55,475 | $33,875 cheaper to rent |
| Year 2 | $43,848 | $72,534 | $28,686 cheaper to rent |
| Year 3 | $66,763 | $89,156 | $22,393 cheaper to rent |
| Year 4 | $90,366 | $105,317 | $14,951 cheaper to rent |
| Year 5 | $114,677 | $120,993 | $6,316 cheaper to rent |
| Year 6 | $139,718 | $136,156 | $3,562 cheaper to own |
| Year 7 | $165,509 | $150,779 | $14,730 cheaper to own |
This is an estimate based on the numbers and assumptions entered above — appreciation, rent increases, and investment returns are never guaranteed. “Owning cost” nets out estimated equity built (home value minus remaining loan balance minus selling costs) as of each year, so it can appear to shrink or go negative if the home is assumed to appreciate significantly. Contact a Liberty home loan specialist for personalized guidance.
Ready to explore your options?
Our local home loan team can walk you through real rates and what you’d actually qualify for.