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Housing decisions rarely come down to one number. The question that actually matters is whether you are comparing a monthly cost or a lifetime cost, because the answer flips depending on how long you stay put. Buying carries large one-off costs at the start and again when you sell; renting spreads cost evenly but builds no equity.
Before you open a calculator, write down three things: how many years you expect to stay, your all-in monthly ownership cost (principal and interest, property tax, insurance, HOA, maintenance), and what you would otherwise do with the down payment. If any of those three is missing, the comparison is not meaningful yet.
Start with our rent vs buy calculator, which puts the break-even year on screen instead of forcing you to guess it.
No. Renting usually wins over short horizons because transaction costs have not had time to be recovered; buying tends to win over long horizons, but only when the ownership costs are counted in full.
Property tax, homeowners insurance, HOA or condo fees, routine maintenance, and the closing costs paid at purchase and again at sale.
Treat it as a scenario, not a forecast, run it at zero and at a modest rate and compare. A result that only works under an optimistic appreciation assumption is a warning sign, not a plan.
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