Mortgage Tools

Rent vs. Buy Calculator

Compare the true cost of renting versus buying over the years you plan to stay. All numbers are educational estimates.

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If you buy

Home price

Down payment %

Interest rate

Loan term (years)

Property tax (% / yr)

Insurance ($ / yr)

HOA ($ / mo)

Maintenance (% / yr)

Home appreciation (% / yr)

If you rent

Monthly rent

Renter's insurance ($ / mo)

Annual rent increase

Time horizon

Years you plan to stay

Over 7 years

Buying looks better

by about $61,120

Monthly cost to own$3,410

Principal & interest$2,481

Down payment$42,500

Total rent paid (7 yr)$228,731

Net cost of buying (7 yr)$167,611

Projected equity at sale$138,846

Projected home value$522,696

Want to understand what these numbers mean for you?

This projection is only part of the picture. I can help you compare the numbers and understand what renting versus buying could look like based on your situation.

Information and tools on this website are educational only and should not be considered individualized financial, legal, or tax advice. Estimates are not a pre-approval, loan approval, or commitment to lend. Mortgage approval, rates, APRs, payments, taxes, insurance, closing costs, and loan terms are subject to borrower qualifications, property information, applicable loan-program requirements, and underwriting. This website disclaimer does not replace Modus Mortgage's official disclosures.

Want me to run real numbers for you?

Let me calculate your numbers using actual property taxes, insurance, HOA, and the loan program that fits your plans.

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About the Author

Tanesha Tomlinson

Florida Mortgage Loan Advisor, Hometown Financial Group, LLC DBA Modus Mortgage

NMLS #1540854 · Company NMLS #1028232

Tanesha Tomlinson is a 24-year Florida mortgage industry expert who has originated over $100,000,000 in mortgages. She works with homebuyers, homeowners, and Realtor partners across South Florida, Broward County, Central Florida, and the Orlando area. Her focus is qualification, income calculation, loan programs, down payment assistance, and cash to close — explained plainly, with the numbers in front of you. As a licensed Florida Realtor® with United Realty Group, she also understands the property and contract side of the same purchase.

Call or text Tanesha: 954-854-2269

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Schedule a Consultation More about Tanesha

Hometown Financial Group, LLC DBA Modus Mortgage · Company NMLS #1028232 · Tanesha Tomlinson NMLS #1540854 · Florida Real Estate License #SL3524613 (United Realty Group) · Equal Housing Lender. Licenses can be verified on NMLS Consumer Access and the Florida DBPR license portal. Content is educational only and is not a commitment to lend.

Last updated September 30, 2026