Rent vs Buy Calculator
Making one of life's biggest financial decisions? This rent vs buy calculator helps you analyze the true cost of homeownership versus renting. Input home price, mortgage terms, and rental costs to see a comprehensive comparison including property taxes, maintenance, home appreciation, and the opportunity cost of your down payment. Perfect for real estate agents, mortgage brokers, and anyone considering buying their first home.
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export function rentVsBuyCalculator(form: FormTs) {
form.addRow(row => {
row.addTextPanel('header', {
computedValue: () => 'Rent vs Buy Calculator',
customStyles: { 'font-size': '1.5rem', 'font-weight': '600', 'color': '#1e293b' }
});
});
form.addSpacer({ height: 20 });
// Property Details Section
const propertySection = form.addSubform('property', { title: '🏠 Property Details' });
propertySection.addRow(row => {
row.addDecimal('homePrice', {
label: 'Home Purchase Price',
min: 50000,
max: 10000000,
defaultValue: 350000,
prefix: '$',
isRequired: true
}, '1fr');
row.addDecimal('downPaymentPercent', {
label: 'Down Payment',
min: 0,
max: 100,
defaultValue: 20,
suffix: '%',
tooltip: 'Typical: 3-20%'
}, '1fr');
});
propertySection.addRow(row => {
row.addDecimal('monthlyRent', {
label: 'Current/Equivalent Monthly Rent',
min: 100,
max: 50000,
defaultValue: 1800,
prefix: '$',
isRequired: true
}, '1fr');
row.addDecimal('rentIncrease', {
label: 'Annual Rent Increase',
min: 0,
max: 15,
defaultValue: 3,
suffix: '%',
tooltip: 'Historical average: 2-4%'
}, '1fr');
});
// Mortgage Details Section
const mortgageSection = form.addSubform('mortgage', { title: '🏦 Mortgage Details' });
mortgageSection.addRow(row => {
row.addDecimal('interestRate', {
label: 'Mortgage Interest Rate',
min: 0,
max: 15,
defaultValue: 6.5,
suffix: '%',
isRequired: true
}, '1fr');
row.addDropdown('loanTerm', {
label: 'Loan Term',
options: [
{ id: '15', name: '15 Years' },
{ id: '20', name: '20 Years' },
{ id: '30', name: '30 Years' }
],
defaultValue: '30'
}, '1fr');
});
mortgageSection.addRow(row => {
row.addDecimal('pmiRate', {
label: 'PMI Rate (if down payment < 20%)',
min: 0,
max: 2,
defaultValue: 0.5,
suffix: '%',
tooltip: 'Private Mortgage Insurance, typically 0.3-1.5%',
isVisible: () => (propertySection.decimal('downPaymentPercent')?.value() || 20) < 20
});
});
// Costs Section
const costsSection = form.addSubform('costs', { title: '💸 Homeownership Costs' });
costsSection.addRow(row => {
row.addDecimal('propertyTaxRate', {
label: 'Property Tax Rate',
min: 0,
max: 5,
defaultValue: 1.2,
suffix: '%',
tooltip: 'Of home value, annually'
}, '1fr');
row.addDecimal('homeInsurance', {
label: 'Home Insurance (Annual)',
min: 0,
max: 20000,
defaultValue: 1500,
prefix: '$'
}, '1fr');
});
costsSection.addRow(row => {
row.addDecimal('maintenance', {
label: 'Annual Maintenance',
min: 0,
max: 3,
defaultValue: 1,
suffix: '% of value',
tooltip: 'Rule of thumb: 1-2% of home value'
}, '1fr');
row.addDecimal('hoaFees', {
label: 'HOA Fees (Monthly)',
min: 0,
max: 2000,
defaultValue: 0,
prefix: '$'
}, '1fr');
});
costsSection.addRow(row => {
row.addDecimal('closingCosts', {
label: 'Closing Costs',
min: 0,
max: 10,
defaultValue: 3,
suffix: '% of price',
tooltip: 'Typically 2-5% of purchase price'
}, '1fr');
row.addDecimal('rentersInsurance', {
label: 'Renter\'s Insurance (Annual)',
min: 0,
max: 1000,
defaultValue: 180,
prefix: '$'
}, '1fr');
});
// Appreciation & Investment Section
const investmentSection = form.addSubform('investment', { title: '📈 Appreciation & Investment' });
investmentSection.addRow(row => {
row.addDecimal('homeAppreciation', {
label: 'Home Appreciation Rate',
min: -5,
max: 15,
defaultValue: 3,
suffix: '%/year',
tooltip: 'Historical average: 3-4%'
}, '1fr');
row.addDecimal('investmentReturn', {
label: 'Investment Return Rate',
min: 0,
max: 15,
defaultValue: 7,
suffix: '%/year',
tooltip: 'If renting, what return could your down payment earn?'
}, '1fr');
});
// Time Horizon Section
const timeSection = form.addSubform('time', { title: '📅 Time Horizon' });
timeSection.addRow(row => {
row.addDropdown('yearsToStay', {
label: 'How Long Will You Stay?',
options: [
{ id: '3', name: '3 Years' },
{ id: '5', name: '5 Years' },
{ id: '7', name: '7 Years' },
{ id: '10', name: '10 Years' },
{ id: '15', name: '15 Years' },
{ id: '20', name: '20 Years' },
{ id: '30', name: '30 Years' }
],
defaultValue: '7',
isRequired: true,
tooltip: 'Longer stays favor buying'
});
});
timeSection.addRow(row => {
row.addTextPanel('timeNote', {
computedValue: () => {
const years = parseInt(timeSection.dropdown('yearsToStay')?.value() || '7');
if (years <= 3) return 'Tip: Short stays often favor renting due to closing costs and selling fees';
if (years <= 5) return 'Tip: 5 years is often the break-even point for buying vs renting';
return 'Tip: Longer stays allow you to build more equity and spread out transaction costs';
},
customStyles: { 'font-size': '0.85rem', 'color': '#059669', 'font-style': 'italic' }
});
});
// Tax Benefits Section
const taxSection = form.addSubform('tax', { title: '🧾 Tax Considerations' });
taxSection.addRow(row => {
row.addDropdown('taxBracket', {
label: 'Marginal Tax Bracket',
options: [
{ id: '0', name: 'Standard Deduction (No itemizing)' },
{ id: '12', name: '12%' },
{ id: '22', name: '22%' },
{ id: '24', name: '24%' },
{ id: '32', name: '32%' },
{ id: '35', name: '35%' },
{ id: '37', name: '37%' }
],
defaultValue: '22',
tooltip: 'For mortgage interest and property tax deduction benefits'
});
});
form.addSpacer({ height: 20, showLine: true, lineStyle: 'dashed' });
// Monthly Comparison Section
const monthlySection = form.addSubform('monthly', { title: '📊 Monthly Cost Comparison', isCollapsible: true });
monthlySection.addRow(row => {
row.addPriceDisplay('monthlyMortgage', {
label: 'Mortgage Payment (P&I)',
computedValue: () => {
const homePrice = propertySection.decimal('homePrice')?.value() || 350000;
const downPercent = propertySection.decimal('downPaymentPercent')?.value() || 20;
const rate = (mortgageSection.decimal('interestRate')?.value() || 6.5) / 100 / 12;
const term = parseInt(mortgageSection.dropdown('loanTerm')?.value() || '30') * 12;
const loanAmount = homePrice * (1 - downPercent / 100);
const payment = loanAmount * (rate * Math.pow(1 + rate, term)) / (Math.pow(1 + rate, term) - 1);
return Math.round(payment);
},
variant: 'default'
}, '1fr');
row.addPriceDisplay('totalBuyMonthly', {
label: 'Total Monthly (Buying)',
computedValue: () => {
const homePrice = propertySection.decimal('homePrice')?.value() || 350000;
const downPercent = propertySection.decimal('downPaymentPercent')?.value() || 20;
const rate = (mortgageSection.decimal('interestRate')?.value() || 6.5) / 100 / 12;
const term = parseInt(mortgageSection.dropdown('loanTerm')?.value() || '30') * 12;
const pmiRate = mortgageSection.decimal('pmiRate')?.value() || 0.5;
const loanAmount = homePrice * (1 - downPercent / 100);
const payment = loanAmount * (rate * Math.pow(1 + rate, term)) / (Math.pow(1 + rate, term) - 1);
const propertyTax = (homePrice * (costsSection.decimal('propertyTaxRate')?.value() || 1.2) / 100) / 12;
const insurance = (costsSection.decimal('homeInsurance')?.value() || 1500) / 12;
const maintenance = (homePrice * (costsSection.decimal('maintenance')?.value() || 1) / 100) / 12;
const hoa = costsSection.decimal('hoaFees')?.value() || 0;
let pmi = 0;
if (downPercent < 20) {
pmi = (loanAmount * pmiRate / 100) / 12;
}
return Math.round(payment + propertyTax + insurance + maintenance + hoa + pmi);
},
variant: 'default'
}, '1fr');
});
monthlySection.addRow(row => {
row.addPriceDisplay('monthlyRentDisplay', {
label: 'Monthly Rent (Year 1)',
computedValue: () => {
return propertySection.decimal('monthlyRent')?.value() || 1800;
},
variant: 'default'
}, '1fr');
row.addPriceDisplay('totalRentMonthly', {
label: 'Total Monthly (Renting)',
computedValue: () => {
const rent = propertySection.decimal('monthlyRent')?.value() || 1800;
const rentersIns = (costsSection.decimal('rentersInsurance')?.value() || 180) / 12;
return Math.round(rent + rentersIns);
},
variant: 'default'
}, '1fr');
});
// Results Section
const resultsSection = form.addSubform('results', { title: '🎯 Analysis Results', isCollapsible: false });
resultsSection.addRow(row => {
row.addPriceDisplay('totalBuyCost', {
label: 'Total Cost of Buying',
computedValue: () => {
const homePrice = propertySection.decimal('homePrice')?.value() || 350000;
const downPercent = propertySection.decimal('downPaymentPercent')?.value() || 20;
const rate = (mortgageSection.decimal('interestRate')?.value() || 6.5) / 100 / 12;
const termYears = parseInt(mortgageSection.dropdown('loanTerm')?.value() || '30');
const term = termYears * 12;
const years = parseInt(timeSection.dropdown('yearsToStay')?.value() || '7');
const loanAmount = homePrice * (1 - downPercent / 100);
const payment = loanAmount * (rate * Math.pow(1 + rate, term)) / (Math.pow(1 + rate, term) - 1);
const downPayment = homePrice * downPercent / 100;
const closingCosts = homePrice * (costsSection.decimal('closingCosts')?.value() || 3) / 100;
const sellingCosts = homePrice * 0.06;
let totalMortgage = 0;
let totalPropertyTax = 0;
let totalInsurance = 0;
let totalMaintenance = 0;
let totalHoa = 0;
const appreciation = investmentSection.decimal('homeAppreciation')?.value() || 3;
let currentHomeValue = homePrice;
for (let i = 0; i < years; i++) {
totalMortgage += payment * 12;
totalPropertyTax += currentHomeValue * (costsSection.decimal('propertyTaxRate')?.value() || 1.2) / 100;
totalInsurance += costsSection.decimal('homeInsurance')?.value() || 1500;
totalMaintenance += currentHomeValue * (costsSection.decimal('maintenance')?.value() || 1) / 100;
totalHoa += (costsSection.decimal('hoaFees')?.value() || 0) * 12;
currentHomeValue *= (1 + appreciation / 100);
}
const futureHomeValue = homePrice * Math.pow(1 + appreciation / 100, years);
const equity = futureHomeValue - loanAmount;
const totalCost = downPayment + closingCosts + totalMortgage + totalPropertyTax +
totalInsurance + totalMaintenance + totalHoa + sellingCosts - equity;
return Math.round(totalCost);
},
variant: 'default'
}, '1fr');
row.addPriceDisplay('totalRentCost', {
label: 'Total Cost of Renting',
computedValue: () => {
const monthlyRent = propertySection.decimal('monthlyRent')?.value() || 1800;
const rentIncrease = propertySection.decimal('rentIncrease')?.value() || 3;
const years = parseInt(timeSection.dropdown('yearsToStay')?.value() || '7');
const rentersIns = costsSection.decimal('rentersInsurance')?.value() || 180;
const homePrice = propertySection.decimal('homePrice')?.value() || 350000;
const downPercent = propertySection.decimal('downPaymentPercent')?.value() || 20;
const investReturn = investmentSection.decimal('investmentReturn')?.value() || 7;
let totalRent = 0;
let currentRent = monthlyRent;
for (let i = 0; i < years; i++) {
totalRent += currentRent * 12 + rentersIns;
currentRent *= (1 + rentIncrease / 100);
}
const downPayment = homePrice * downPercent / 100;
const investmentGrowth = downPayment * (Math.pow(1 + investReturn / 100, years) - 1);
return Math.round(totalRent - investmentGrowth);
},
variant: 'default'
}, '1fr');
});
// Summary Section
const summarySection = form.addSubform('summary', {
title: '💰 Recommendation',
isCollapsible: false,
sticky: 'bottom'
});
summarySection.addRow(row => {
row.addTextPanel('recommendation', {
computedValue: () => {
const homePrice = propertySection.decimal('homePrice')?.value() || 350000;
const downPercent = propertySection.decimal('downPaymentPercent')?.value() || 20;
const rate = (mortgageSection.decimal('interestRate')?.value() || 6.5) / 100 / 12;
const termYears = parseInt(mortgageSection.dropdown('loanTerm')?.value() || '30');
const term = termYears * 12;
const years = parseInt(timeSection.dropdown('yearsToStay')?.value() || '7');
const monthlyRent = propertySection.decimal('monthlyRent')?.value() || 1800;
const rentIncrease = propertySection.decimal('rentIncrease')?.value() || 3;
const appreciation = investmentSection.decimal('homeAppreciation')?.value() || 3;
const investReturn = investmentSection.decimal('investmentReturn')?.value() || 7;
const loanAmount = homePrice * (1 - downPercent / 100);
const payment = loanAmount * (rate * Math.pow(1 + rate, term)) / (Math.pow(1 + rate, term) - 1);
const downPayment = homePrice * downPercent / 100;
const closingCosts = homePrice * 0.03;
const sellingCosts = homePrice * 0.06;
let totalBuyCost = downPayment + closingCosts;
let currentHomeValue = homePrice;
for (let i = 0; i < years; i++) {
totalBuyCost += payment * 12;
totalBuyCost += currentHomeValue * 0.012;
totalBuyCost += 1500;
totalBuyCost += currentHomeValue * 0.01;
currentHomeValue *= (1 + appreciation / 100);
}
const futureHomeValue = homePrice * Math.pow(1 + appreciation / 100, years);
const equity = futureHomeValue - loanAmount;
totalBuyCost += sellingCosts - equity;
let totalRentCost = 0;
let currentRent = monthlyRent;
for (let i = 0; i < years; i++) {
totalRentCost += currentRent * 12 + 180;
currentRent *= (1 + rentIncrease / 100);
}
const investmentGrowth = downPayment * (Math.pow(1 + investReturn / 100, years) - 1);
totalRentCost -= investmentGrowth;
const difference = Math.abs(totalBuyCost - totalRentCost);
const formatted = difference.toLocaleString('en-US', { style: 'currency', currency: 'USD', maximumFractionDigits: 0 });
if (totalBuyCost < totalRentCost) {
return `🏠 BUYING is better by ${formatted} over ${years} years`;
} else if (totalRentCost < totalBuyCost) {
return `🏢 RENTING is better by ${formatted} over ${years} years`;
} else {
return '⚖️ BUYING and RENTING are roughly equal';
}
},
customStyles: { 'font-size': '1.2rem', 'font-weight': '600', 'text-align': 'center', 'color': '#1e293b' }
});
});
summarySection.addRow(row => {
row.addTextPanel('savingsDisplay', {
computedValue: () => {
const years = parseInt(timeSection.dropdown('yearsToStay')?.value() || '7');
const homePrice = propertySection.decimal('homePrice')?.value() || 350000;
const downPercent = propertySection.decimal('downPaymentPercent')?.value() || 20;
const appreciation = investmentSection.decimal('homeAppreciation')?.value() || 3;
const downPayment = homePrice * downPercent / 100;
const futureValue = homePrice * Math.pow(1 + appreciation / 100, years);
const futureEquity = futureValue * 0.4;
return `Potential equity after ${years} years: $${Math.round(futureEquity).toLocaleString()}`;
},
customStyles: { 'font-size': '0.95rem', 'text-align': 'center', 'color': '#059669' }
});
});
summarySection.addRow(row => {
row.addTextPanel('breakeven', {
computedValue: () => {
const homePrice = propertySection.decimal('homePrice')?.value() || 350000;
const closingCosts = homePrice * 0.03;
const sellingCosts = homePrice * 0.06;
const monthlyRent = propertySection.decimal('monthlyRent')?.value() || 1800;
const rate = (mortgageSection.decimal('interestRate')?.value() || 6.5) / 100 / 12;
const downPercent = propertySection.decimal('downPaymentPercent')?.value() || 20;
const term = parseInt(mortgageSection.dropdown('loanTerm')?.value() || '30') * 12;
const loanAmount = homePrice * (1 - downPercent / 100);
const payment = loanAmount * (rate * Math.pow(1 + rate, term)) / (Math.pow(1 + rate, term) - 1);
const monthlyOwning = payment + homePrice * 0.012 / 12 + 125 + homePrice * 0.01 / 12;
const transactionCosts = closingCosts + sellingCosts;
const monthlySavings = monthlyRent - monthlyOwning;
if (monthlySavings > 0) {
const breakeven = Math.ceil(transactionCosts / monthlySavings);
return `Break-even point: ~${Math.round(breakeven / 12)} years`;
}
return 'Monthly ownership costs exceed rent - consider renting';
},
customStyles: { 'font-size': '0.9rem', 'text-align': 'center', 'color': '#475569' }
});
});
summarySection.addRow(row => {
row.addTextPanel('disclaimer', {
computedValue: () => 'This calculator provides estimates only. Actual costs and returns will vary. Consult a financial advisor for personalized advice.',
customStyles: { 'font-size': '0.8rem', 'color': '#94a3b8', 'text-align': 'center' }
});
});
form.configureSubmitButton({
label: 'Get Detailed Report'
});
}
Frequently Asked Questions
How long do I need to stay for buying to make sense?
Generally, 5-7 years is the break-even point where buying becomes advantageous. Shorter stays favor renting due to transaction costs (closing costs, realtor fees). Longer stays allow you to build equity and spread out those costs.
What costs are often forgotten when buying?
Hidden costs include: PMI (if down payment < 20%), HOA fees, maintenance (1-2% of home value annually), property tax increases, and selling costs (typically 6-10% of sale price). This calculator includes all of these.
Should I factor in tax benefits?
Yes, but they're smaller than most people think. You only benefit if your itemized deductions (including mortgage interest) exceed the standard deduction. Many homeowners don't itemize at all.
What about the investment opportunity cost?
This is crucial. Your down payment could be invested in the stock market instead. We compare home appreciation vs. what your money could earn invested elsewhere, giving you the true cost comparison.
How does home appreciation affect the decision?
Home appreciation averages 3-4% nationally but varies greatly by location. Higher appreciation makes buying more attractive. However, don't count on above-average appreciation - use conservative estimates.