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Rent vs. Buy Calculator

Put your own numbers in and see how renting compares to owning over the time you actually plan to stay. Everything runs in your browser, nothing is saved or sent.

Your numbers

Renting

Monthly rent ($)Annual rent increase (%)

Buying

Purchase price ($)Down payment (%)Interest rate (%)Property tax rate (%/yr)Homeowners insurance ($/yr)HOA / assessments ($/mo)Maintenance (%/yr)Home appreciation (%/yr)

Years you plan to stay

Estimated monthly cost to own

$3,434

$1,234 more per month than your current rent. Includes loan payment, taxes, insurance, maintenance, and assessments.

Over 7 years

Total rent paid: $202,289
Net cost of owning: $204,423
Loan paid down: $34,502
Equity if you sold: $132,015

On these assumptions, renting comes out roughly $2,134 ahead over 7 years.

Want me to run it with real numbers?

Tax rates, assessments, and insurance vary a lot between Chicago neighborhoods and suburbs. Send me the areas you're considering and I'll put together a comparison based on actual listings and recent sales.

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This calculator is an estimate for planning purposes only. It is not a loan offer, a tax opinion, or a guarantee of value or future market performance. Talk with a licensed lender and a tax professional about your situation.