RENT or BUY?

The choice between purchasing a home and renting is one of the biggest financial decisions that many adults make. The cost of purchasing are more varied and complicated than for renting, making it hard to tell which is a better deal. To help you answer this question, I have provided a calculation based on Trulia’s market data:

Buying is 35% Cheaper.

Renting Costs

$1,631 / MONTH

Buying Costs

$1,056 / MONTH

Target Monthly Rent?

$1700

Target Home Price?

$245,000

Length at Residency?

7 YEARS

Income Tax Rate?

28%

Mortgage Rate?

3.89%

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