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Home Buying Steps
DashboardPhase 1: Are You Ready?

Rent vs. buy calculator

By the Home Buying Steps team, Published , Updated

Compare the true long-term cost of renting against owning where you live.

These are estimates to guide your planning. They are not professional or lender figures. Rates, tax rules, DTI limits, and loan requirements vary by lender, location, and over time, so verify anything important with a licensed professional. Read our full disclaimer.

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Estimate. Phase 1 computes this for you.

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Historical US average ~3–4%

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1 yr20 yrs

Enter your rent and a target home price to compare.

Why this matters
Buying isn't automatically smarter than renting. It depends on how long you plan to stay and how local prices compare to rents. Enter your numbers below to see a real comparison, including your break-even year.
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This step is general educational guidance, not legal, financial, or real estate advice. Your contract terms, deadlines, and local requirements always take precedence, so confirm specifics with your licensed professionals. Read our full disclaimer.