Buyers
Rent vs. Buy Calculator
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
$
0%8%
Buying
$
3%50%
%
%
$
$
0%10%
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.
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