The right answer depends on how long you’ll actually stay, not a generic rule of thumb. Enter your own numbers below — optionally prefilled from an installation’s median home price — to see your specific break-even point.
Buy vs. Rent Calculator
Enter your own numbers — every field below drives the result.
Illustrative
Also sets Comparable Monthly Rent below to that installation’s own local rent figure, so it doesn’t default to one flat number regardless of market.
Auto-estimated from the home price above; edit it any time to use your own.
Estimated monthly cost of owning
$2,481
vs. $1,575/mo rent — principal & interest $2,102, taxes & insurance $379
Renting looks favorable
At these numbers, your monthly rent stays below your estimated cost of owning throughout, so there's no break-even point to reach.
Cash needed at closing
$28,000
Break-even vs. renting
No break-even
EstimatedIllustrative math — see the disclaimer below for exactly what this tool does and does not account for.
Standard 30-year fixed mortgage math plus a flat 1.3%/year estimate for property taxes and insurance combined. Your actual rate, taxes, insurance, and closing costs will differ — get a real quote before deciding. This tool ignores tax deductions, home appreciation, and maintenance costs on either side of the comparison.