Rent vs Buy Calculator

Still wondering if you should rent or buy your next home? This rent vs. buy calculator can help you see the cost of owning a new home, and understand if it's a better choice than renting.

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Important information about using this calculator

This tool is designed to give you a rough estimate of the costs of renting as compared to buying based on information you provide. For information about your loan options, please consult a Discover Mortgage Banker. Discover Home Loans does not guarantee the availability of any rate or product. Your actual results may vary depending on your personal financial situation, including factors that are not considered by the calculator.

This assumes you itemize deductions, if you do not itemize the cost of home ownership will be higher.

Your Information

Your Information If You Rent A Home

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Your Information If You Buy A Home

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Your Results

Helpful Resources on Buying a Home vs. Renting

Get helpful information on purchasing a home and whether it's better for you than renting

  • Rent vs Buy - Which is Right for You?

    There are a variety of reasons why you should become a first time home buyer, but first it's wise to explore the pros and cons of buying over renting.

  • Where Does Your Rent Money Go

    After you pay your rent, who gets it? Find out where your rent money goes besides just your landlord. You may be surprised.

Learn more about Home Buying

If our rent vs buy calculator suggests buying may be better for you, you're ready to take the next step. Work with a Dedicated Mortgage Banker to learn if you qualify for a mortgage and what loan is best for you and help you understand if it's a better choice than renting.

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