Wednesday, November 25, 2009, 12:17PM ET - U.S. Markets close in 3 hours and 43 minutes.

Real Estate

Should I Rent or Buy A Home?

Good (1251 Ratings)

2.516388/5

With interest rates near forty year lows, the decision to rent versus buy becomes difficult. Use this calculator to help determine which makes sense for you at this time.

Rent Assumptions	Input
Monthly rent payment	(0-9999999)$
Additional monthly fees	(0-9999999)$
Monthly renter's insurance premium	(0-9999999)$
Annual rate increases: (%)	(0-10)%

Purchase Assumptions	Input
Purchase price of home	(0-9999999)$
Annual appreciation rate: (%)	(0-10)%
Amount of loan	(0-9999999)$
Annual interest rate: (%)	(0-30)%
Number of years	(1-40)
Annual homeowner's insurance premium	(0-9999999)$
Annual property taxes	(0-9999999)$
Annual maintenance cost	(0-9999999)$

Other Assumptions	Input
Number of years for the comparison	(1-30)
Marginal tax bracket: (%)	(0-50)%
Before tax return on savings: (%)	(0-12)%
Assumed annual inflation rate: (%)	(0-10)%

See All Calculators

Rent Assumptions	Input
Monthly rent payment
Additional monthly fees
Monthly renter's insurance premium
Annual rate increases: (%)

Purchase Assumptions	Input
Purchase price of home
Annual appreciation rate: (%)
Amount of loan
Annual interest rate: (%)
Number of years
Annual homeowner's insurance premium
Annual property taxes
Annual maintenance cost

Other Assumptions	Input
Number of years for the comparison
Marginal tax bracket: (%)
Before tax return on savings: (%)
Assumed annual inflation rate: (%)

See All Calculators

{ "fields" : { "udata" : [ "rent" , "fees" , "rentIns" , "rentIncr" , "purchase" , "growth" , "loan" , "rate" , "term" , "homeowners" , "taxes" , "maint" , "analysis" , "taxBracket" , "beforeTaxReturn" , "inf" ] } }

Powered By

This calculator is provided by Financial Calculators, Inc., and is intended solely for general information and educational purposes. You should not take any action on the basis of the information provided through this calculator. Please see the disclaimer for further information and limitations.

Rate This calculator

Good (1251 Ratings)

2.5/5

Sign-in to rate!

Rates

See today's average rates across the country.

• Mortgage

  Loan Type	Today	Last Week
  30 Year Fixed	4.99%	4.99%
  15 Year Fixed	4.55%	4.49%
  1 Year ARM	3.92%	3.97%
  30 Year Fixed Jumbo	5.87%	5.86%
  5/1 ARM	4.20%	4.09%
  3/1 ARM	4.75%	4.77%

  Source: Bankrate
• Home Equity

  Loan Type	Today	Last Week
  $30K Home Equity Loan	8.35%	8.32%
  $50K Home Equity Loan	8.21%	8.16%
  $75K Home Equity Loan	8.24%	8.19%
  $30K HELOC	5.22%	5.20%
  $50K HELOC	4.95%	4.93%
  $75K HELOC	4.96%	4.94%

  Source: Bankrate
• Savings

  Savings Type	Today	Last Week
  6 month CD	1.11%	1.13%
  1 year CD	1.58%	1.59%
  3 year CD	2.23%	2.27%
  MMA	1.03%	1.04%
  $10K MMA	1.11%	1.12%
  $25K MMA	1.31%	1.32%

  Source: Bankrate
• Auto

  Loan Type	Today	Last Week
  36 Month New Car Loan	6.67%	6.69%
  48 Month New Car Loan	6.79%	6.81%
  60 Month New Car Loan	6.83%	6.85%
  72 Month New Car Loan	6.12%	6.26%
  36 Month Used Car Loan	7.15%	7.21%
  48 Month Used Car Loan	7.02%	7.07%

  Source: Bankrate
• Credit Cards

  Card Type	Today	Last Week
  Business Credit Cards	9.74%	9.49%
  Low Interest Credit Cards	11.65%	11.65%
  Cash Back Credit Cards	12.08%	12.08%
  Balance Transfer Credit Cards	12.13%	12.07%
  Reward Credit Cards	13.29%	13.29%
  Instant Approval Credit Cards	13.32%	13.32%

  Source: CreditCards.com

View rates in your area

Historical chart data and daily updates provided by Commodity Systems, Inc. (CSI). International historical chart data and daily updates provided by Morningstar, Inc. Fundamental company data provided by Capital IQ. Quotes and other information supplied by independent providers identified on the Yahoo! Finance partner page. Quotes are updated automatically, but will be turned off after 25 minutes of inactivity. Quotes are delayed at least 15 minutes. Real-Time continuous streaming quotes are available through our premium service. You may turn streaming quotes on or off. All information provided "as is" for informational purposes only, not intended for trading purposes or advice. Neither Yahoo! nor any of independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. By accessing the Yahoo! site, you agree not to redistribute the information found therein.

Yahoo! Answers is provided for informational purposes only, and no Q&A is intended for trading or investing purposes. Yahoo! shall not be responsible or liable for the accuracy, usefulness or availability of any Q&A information, and shall not be responsible or liable for any trading or investment decisions based on such information. View Complete Answers Disclaimer.