Should you buy or keep renting?

A 5-year side-by-side using your actual numbers. We count taxes, insurance, maintenance, and rising rent — so the answer is honest, not flattering.

After 5 years

Buying saves you $24,300

…and you'd own about $31,400 in equity. Even after selling costs, you'd come out ahead.

If you rent

$105,200

$0 equity built.

Year 1 rent$19,800
Year 2 (+3%)$20,394
Year 3 (+3%)$21,006
Year 4 (+3%)$21,636
Year 5 (+3%)$22,285

If you buy

$80,900

~$31,400 equity in the home.

Monthly payment (P&I)$1,757
Taxes, insurance, PMI$478
Maintenance (1%/yr)$237
Closing costs (yr 0)$8,500
Equity built by yr 5+ $31,400

Renting starts cheaper. Buying overtakes it around year 4.

Year 1

$19,800

$28,700

Year 2

$40,194

$46,940

Year 3

$61,200

$65,180

Year 4

$82,836

$73,040

Year 5

$105,200

$80,900

Rent Buy (net of equity)