This calculator compares the cost of owning a home relative to renting for a potential new homeowner.  The Housing Cost Calculator reports the "Net Cost of Owning" -- the expected amount of additional cash available to a renter compared to the amount available to a homebuyer who buys a home today and sells the home at a specified time in the future.  The calculator takes into account the unprecedented run-up in real home prices since 1997.


Start Here: 

I am looking at a $ home in .

I want to put $ down and finance with mortgage at %.

I am in the percent tax bracket and plan to on my taxes.

I plan to sell the house in .


Costs of Ownership v. Renting:



House Appreciation (real)

Purchase Price

Monthly Rent


Ownership Costs

Sale Price

Outstanding Mortgage

Commission and fees

Total Cash (Owning)

Equivalent Rental Costs

Returned Security Deposit Value

Total Cash (Renting)


Net Cost of Owning

Designed by David Rosnick, Center for Economic and Policy Research

Modified August 2, 2005 based on OFHEO Housing Price Index of 1Q 2005, Bureau of Labor Statistics, Consumer Price Index (less shelter) and CBO current economic projections of January 2005.

Access the technical notes which were modified August 22, 2005.