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Buyers
Compare the true 5, 10, and 20-year cost of renting versus buying a home in South Florida. See exactly when buying beats renting.
Renting
Buying
Cost Comparison
Buying becomes cheaper than renting in Year 2
| Year | Total Rent Paid | Total Buy Cost | Home Equity | Net Buy Cost | Better |
|---|---|---|---|---|---|
| Yr 5 | $159,274 | $307,955 | $208,620 | $99,335 | Buy |
| Yr 10 | $343,916 | $512,411 | $357,185 | $155,225 | Buy |
| Yr 20 | $806,111 | $921,321 | $779,725 | $141,596 | Buy |
| Yr 30 | $1,427,262 | $1,330,232 | $1,459,529 | -$129,297 | Buy |
Net buy cost = total paid minus home equity. Does not include tax deduction benefits or investment returns on down payment.
Ready to Buy?
Search available homes in your target price range across South Florida.
Browse HomesThis tool compares the total cost of renting against owning over 5, 10, and 20 years. On the rent side it sums your monthly rent, grown by an annual increase. On the buy side it adds the down payment, closing costs, mortgage payments, taxes, insurance, and upkeep, then subtracts the equity you build and any price appreciation to find net cost.
For example, renting at $2,800 a month with 3% annual increases costs about $178,000 over five years with nothing recovered. Buying a $450,000 home means higher upfront cash and monthly PITI, but part of each payment builds equity, so the longer you stay, the more owning tends to win on net cost.
This comparison matters in South Florida because high insurance and HOA costs raise the cost of owning, while the seasonal market and strong long-run price growth reward buyers who hold. No state income tax and the homestead exemption favor primary-residence owners, so your expected time in the home is usually the deciding factor between renting and buying.