Compare renting and buying a home over time, including mortgage costs, home price growth, rent increases and the return on money you'd otherwise invest.
Buying builds home equity, but comes with buying and selling costs, property tax, maintenance and mortgage interest. Renting is cheaper to start, and the money not spent on a down payment can be invested.
This calculator compares your net worth after the chosen number of years:
It depends on how long you'll stay, local prices and rents, and investment returns. Buying usually wins over long periods; renting often wins if you may move within 5 years.
Home price ÷ yearly rent. Above about 20 renting tends to be cheaper; below about 15 buying tends to be cheaper.