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Rent vs. Own Calculator

What would owning actually cost you?

Put in your rent, including the extra fees most leases tack on, and the kind of home you are looking at. You will see the monthly cost of owning side by side with your rent, plus how the two compare over the years you plan to stay.

Your rent today

$
$

Parking, pet rent, utility or trash charges, amenity and tech fees. Most Twin Cities leases add a few of these on top of base rent.

The home you're considering

$
%
%
$
yrs

Adjust the assumptions +

Owning

%
$
%/yr
%
%
%

Growth each year

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%

Rates change daily, so check today's rate with a lender. Property tax is an estimate for Minneapolis. Home values do not always go up, so try 0% to see a cautious case.

The short answer

Renting
per month today
Owning
per month, all in

Your monthly cost of owning

Principal and interest
Property taxes
HOA dues
Home insurance
Mortgage insurance (PMI)
Maintenance set-aside
Total

Over the years you stay

Total rent and fees paid
Net cost of owning

Talk to an Agent See how buying works

This calculator gives estimates for planning only. It is not a loan offer or financial advice, and your actual payment will depend on your lender, credit, loan program, taxes and HOA. Net cost of owning is everything you would pay to buy, own and later sell the home, minus the equity you walk away with. It does not account for tax deductions or what your down payment might earn if invested elsewhere. Talk with a lender and a tax professional before making a decision.