Rent vs. Buy Calculator
Make an informed decision about renting vs. buying in California. Our comprehensive calculator analyzes the total financial impact over time.
Expert Real Estate Guidance
Professional analysis for your rent vs buy decision
Quick answer
This rent vs buy calculator compares the total cost of renting versus buying a home in California, factoring in mortgage payments, property taxes, home appreciation, tax deductions, and investment opportunity costs. Enter your details to see which option is financially better for your situation and timeline.
Median Orange County Home Price
Average Monthly Rent
Current Mortgage Rates
Calculator Inputs
Home Purchase
Loading current rates...
Rental Costs
Investment Assumptions
Rate Assumption: Displayed rates assume a 740+ credit score. Your rate may vary based on your credit profile and loan details.
5-Year Analysis Results
Net worth difference: $0 in favor of renting
Buying Scenario
Renting Scenario
Year-by-Year Net Worth Comparison
| Year | Home Value | Home Equity | Investment Value | Buy Net Worth | Rent Net Worth | Difference |
|---|
Cost of Waiting to Buy
California Market Considerations
When Buying Makes Sense
- • Planning to stay 5+ years
- • Stable income and employment
- • 20% down payment available
- • Current rent is high relative to ownership costs
- • Desire for stability and customization
- • Tax benefits outweigh costs
When Renting Makes Sense
- • Short-term housing needs (<3 years)
- • High home prices relative to rent
- • Limited down payment funds
- • Preference for flexibility
- • Investment opportunities exceed home appreciation
- • No desire for maintenance responsibilities
Important Considerations
- • This analysis assumes you invest the difference when renting
- • Real estate markets can be volatile and unpredictable
- • Consider your personal circumstances beyond financial factors
- • Tax benefits may be limited by SALT deduction caps
- • Consult with a financial advisor for personalized advice
This rent vs buy calculator is for educational purposes only and provides estimates based on the assumptions and numbers you enter. Actual costs and financial outcomes may vary based on market fluctuations, interest rate changes, unexpected expenses, and personal circumstances. This does not constitute financial or investment advice. For personalized guidance on whether to rent or buy, consult with a licensed financial advisor, tax professional, or California mortgage broker.
Related resources
Frequently Asked Questions
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