Use this calculator. Track this in Stroberi.
This page is optimized for the money decision you are making now. For the fully interactive calculator experience, open Stroberi’s tools workspace — then install the app to keep budgets, spending, and recurring transactions updated privately on your phone.
What this rent vs buy calculator actually models
It’s not just mortgage payments. Owning means property tax, homeowner’s insurance, HOA, ongoing maintenance (typically 1% of home value per year), and closing costs. Renting means steadily rising rent. The calculator simulates both paths month by month, tracks your mortgage amortization and home equity, and surfaces the year where your buying costs cross below cumulative rent.
Price-to-rent ratio: the fastest sanity check
Divide the home price by twelve months of rent for a comparable unit. Below 15, buying generally wins. Between 15 and 20, it depends on how long you stay. Above 20, renting is usually the math-correct move — the area is priced for appreciation, not for owner cash-flow.
Why time horizon is everything
Closing costs (2–5% of home price), realtor fees on the sale side (5–6%), and the mortgage paying mostly interest in early years mean short stays almost always lose to renting. The break-even typically sits between 5 and 9 years in most US markets. If you’re unsure whether you’ll stay that long, renting preserves optionality — that has real value the calculator can’t price in.
Assumptions this tool cannot make for you
Housing appreciation is uncertain and local. Property taxes can reset on sale. Major repairs (roof, HVAC) are lumpy and don’t fit neatly in a % annual assumption. Treat the output as a baseline — then stress-test with lower appreciation (2%) and higher maintenance (2%) to see how sensitive the decision is.