Rent vs Buy Calculator by City
Free rent vs buy calculator by city. Compare total housing costs of renting versus buying in major US cities including mortgage, taxes, maintenance, and opportunity cost.
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Decision Support System
Showing national median — click Calculate above to personalize
Rent vs. Buy by City
LIVE DATASource: Zillow, NAR, S&P 2025–2026
Buy vs. Rent by Market Type
| Market | Home Price | Rent | 10yr Buy Wealth | 10yr Rent Wealth | Winner |
|---|---|---|---|---|---|
| Affordable | $220K | $1,200 | $165K | $85K | Buying |
| Mid-range | $300K | $1,500 | $195K | $120K | Buying |
| Expensive | $580K | $2,100 | $240K | $210K | Close |
| Very expensive | $1.2M | $3,400 | $280K | $350K | Renting |
Assumes 20% down, 6.65% rate, 3.5% appreciation, 10.5% investment return.
How Do You Compare?
UPDATES LIVEShowing median values. Click Calculate for your numbers.
What This Means For You
UPDATES LIVEIn your city, buying builds $75,000 more wealth over 10 years.
Your Complete Picture
CONNECTEDHow this connects to your broader financial picture.
What Should You Do Next?
UPDATES LIVEBased on your city analysis.
→ Rent vs Buy Analysis
→ Buy vs Rent Cost
Buying Readiness Check
| Factor | Status | Action |
|---|---|---|
| Local market | Review | Price-to-rent ratio determines which option wins. |
| Time horizon | On Track | Plan 7+ years for buying to reliably win. |
| Down payment | Review | 20% avoids PMI. → Calculate |
| Investment discipline | Review | Renting only wins if you invest the savings. |
| Appreciation outlook | Mixed | 3.5% is historical average. |
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This calculator is for informational and educational purposes only. Results are estimates based on the information you provide and standard financial formulas. This is not financial advice. Consult a qualified financial advisor for decisions specific to your situation. Full Disclaimer
Learn More About City Rent vs. Buy Analysis
Things to Know
Essential concepts for understanding your results
Key FactorsWhat factors most affect your mortgage costs?
The four inputs with the largest impact: loan amount (every $10,000 adds ~$63/month at 6.5%), interest rate (0.5% change = $85-95/month on $300K), loan term (15-year saves $200K+ in interest but has 40-50% higher payments), and down payment (20% eliminates PMI, saving $100-300/month). Small improvements in any of these — especially rate — compound into massive savings over the loan's life.
Total CostWhy should you focus on total cost, not monthly payment?
A lower monthly payment often masks a higher total cost. Extending from 15 to 30 years cuts payments by 40% but doubles total interest. On $300,000: 15-year total = $455,000, 30-year total = $683,000. Similarly, a small rate difference (6.5% vs 7.0%) costs $35,000 over 30 years. Always compare total cost over the full term alongside monthly payment — the true cost is what leaves your pocket over the entire loan life.
PreparationHow can you improve your mortgage terms before applying?
Three high-impact actions: improve credit score (each 20-point gain saves 0.125-0.25% on rate — worth $15,000-30,000 over 30 years), reduce DTI (pay off small debts to lower your ratio below 36%), and increase down payment (reaching 20% eliminates PMI, saving $100-300/month). Spend 3-6 months optimizing these before applying — the investment of time produces returns measured in tens of thousands of dollars.
Rent vs Buy Calculator by City: Which Is Cheaper in Your Market?
The rent vs buy decision varies dramatically by city because the price-to-rent ratio — the key metric for this comparison — ranges from under 15 (favoring buying) to over 35 (heavily favoring renting). This calculator compares total 5-year costs of renting versus buying in your specific metro area using local home prices, rent levels, tax rates, and appreciation trends.
Select your city or enter custom values above. The calculator shows the break-even timeline, total cost comparison, and which option builds more wealth in your market.
Price-to-Rent Ratios by Major Metro (2025 Data)
| City | Median Home Price | Median Rent (1BR) | Price-to-Rent Ratio | Verdict |
|---|---|---|---|---|
| San Francisco | $1,350,000 | $3,100 | 36.3 | Strongly favor rent |
| New York (Manhattan) | $1,100,000 | $3,500 | 26.2 | Favor rent |
| Los Angeles | $920,000 | $2,700 | 28.4 | Favor rent |
| Seattle | $780,000 | $2,200 | 29.5 | Favor rent |
| Denver | $560,000 | $1,800 | 25.9 | Favor rent |
| Austin | $450,000 | $1,600 | 23.4 | Neutral-rent |
| Nashville | $420,000 | $1,700 | 20.6 | Neutral |
| Dallas | $370,000 | $1,500 | 20.6 | Neutral |
| Atlanta | $380,000 | $1,600 | 19.8 | Neutral-buy |
| Columbus, OH | $270,000 | $1,300 | 17.3 | Favor buy |
| Indianapolis | $250,000 | $1,250 | 16.7 | Favor buy |
| Memphis | $210,000 | $1,200 | 14.6 | Strongly favor buy |
Interpretation: Under 15: buying is clearly cheaper. 15-20: roughly neutral, slight buying advantage. 20-25: roughly neutral, slight renting advantage. Above 25: renting and investing the difference likely wins. Above 30: renting strongly favored. These ratios shift with interest rates — higher rates make buying more expensive, pushing ratios up. See our Buy vs Rent Cost Calculator for detailed total-cost analysis.
Frequently Asked Questions
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