Rent vs Buy Tools & Calculators

Why We Built These Tools

Housing decisions involve a lot of moving parts: purchase price, interest rates, property taxes, maintenance costs, opportunity costs, and more. It's easy to oversimplify (or overcomplicate) the math. Our calculators are designed to help you see the full picture without requiring a finance degree.

Each calculator on this page is transparent about its assumptions and methodology. We show you the inputs, explain what they mean, and let you adjust them to match your situation. There are no hidden variables or black-box formulas—just straightforward math you can verify.

What Each Calculator Does

• Rent vs Buy Calculator — This is our flagship tool. It compares the total cost of renting against the total cost of buying over a timeframe you choose. It accounts for factors that simple comparisons often miss: investment returns on your down payment if you rent, equity buildup if you buy, maintenance costs, tax implications, and more. Use this when you're trying to decide whether homeownership makes financial sense for your situation.
• Mortgage Payment Calculator — Estimates your monthly payment based on loan amount, interest rate, and term. It breaks down your payment into principal, interest, taxes, and insurance (PITI) so you understand where every dollar goes. This is helpful when you're comparing different home prices or loan scenarios.
• Home Affordability Calculator — Helps you understand how much home you can realistically afford based on your income, existing debts, and down payment. Lenders use debt-to-income ratios to qualify borrowers; this tool helps you see what those ratios mean for your budget.
• Refinance Calculator — If you already own a home, this tool helps you evaluate whether refinancing makes sense. It calculates your potential monthly savings, total interest savings over the life of the loan, and how long it takes to break even on closing costs.

How to Get the Most Out of These Tools

Calculators are only as good as the inputs you provide. Here are some tips:

• Use realistic estimates for home prices in your target area—check recent sales, not just listing prices.
• Include all costs when comparing rent vs buy: renters insurance, parking, utilities that may differ between renting and owning.
• Don't forget about opportunity cost. Money spent on a down payment could otherwise be invested.
• Run multiple scenarios. Try different time horizons, interest rates, and home appreciation assumptions to see how sensitive your decision is to these variables.

Each calculator links to a detailed educational guide that explains the concepts in depth. We recommend reading the guide alongside using the tool—it'll help you interpret the results and understand what the numbers actually mean for your situation.