Am I better off renting?

This calculator calculates whether buying a home is a better deal than renting. In some cases, renting may be cheaper than buying. For example, renting often requires a smaller monthly cash outflow than a combined mortgage payment that includes principal, interest, insurance, taxes, (P+I+T+I) and possibly mortgage insurance.

As a result, renting may free up your cash flow and allow you to save. The calculator allows you to designate a savings interest rate to include these savings in the analysis.

The calculator calculates the tax savings you realize from deducting mortgage interest and charges for a specific interest rate (or discount points).

It also estimates the equity that you earn in your home over the time you own it, which boosts your personal net worth. Renting does not create net worth.



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