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Real Cost of Renting!

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Cost comparison for a renter and a homeowner over a 5 year period.

  • The renter starts out paying $1800/month with an annual increase of 5%.
  • The homeowner purchases a home for $250,000 with a monthly mortgage of $1,301.79 (plus taxes $300-400/Mo and homeowners insurance $100-150/Mo).
  • After 6 years the homeowner's payment is Lower than the renter's monthly payment.
  • With the tax savings of home ownership, the homeowner's payment is Less than the rental payment after only 3 years.

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