Find your breakeven year: when buying beats renting for you.
$2,200/mo
$475,000
$50,000
6.500%
The break-even
Renting stays cheaper for 12+ years
On these numbers in Providence, renting keeps more money in your pocket across the whole 12-year window.
Net cost by year (lower is better)
Total money out, minus the equity you would recover selling that year. The cheaper option is highlighted.
Year 3Renting cheaper
Rent
$73,526
Buy
$131,195
Year 5Renting cheaper
Rent
$125,993
Buy
$188,739
Year 7Renting cheaper
Rent
$181,387
Buy
$244,936
Year 10Renting cheaper
Rent
$270,296
Buy
$326,239
Estimate only, not financial advice. Assumes home value grows about 3% a year, roughly 1% of value in annual maintenance, a 6% cost to sell, and that a renter invests the would-be down payment for comparison. Property tax rates are approximate and change yearly (verify with the town assessor). Your real rate, insurance, and closing costs depend on your credit, loan program, and the specific home. For a number built around your finances, let's talk.
Want the real number for your situation?
These tools give you an honest estimate. For a precise, no-pressure plan built around your finances and the towns you are considering, let's talk.