Rent vs buy
Rent vs Buy Condo Calculator
Compare estimated monthly ownership costs (mortgage, HOA, property taxes, and insurance) to renting over the same hold period. Use your own assumptions. Results do not include appreciation, tax benefits, or closing costs.
Last updated: May 2026
How this comparison works
Enter the condo price, financing assumptions, HOA dues, taxes, insurance, monthly rent, and how long you plan to stay. The calculator totals ownership costs over that period and compares them to cumulative rent paid.
For a deeper breakeven timeline, see the rent vs buy breakeven calculator or read the should I buy or rent guide.
Run your comparison
Adjust the fields below with your own numbers.
Your numbers
Estimates only. Does not include maintenance, closing costs, rent increases, home appreciation, or tax benefits.
Sources to verify before buying
Use this checklist during due diligence. Calculators help you plan; these documents tell you what a specific building actually costs.
- HOA budget and most recent financial statements
- Reserve study and percent-funded summary
- Master insurance policy declarations and renewal terms
- Board meeting minutes from the past 12–24 months
- Pending or approved special assessment notices
- County or municipal property tax estimator for the unit
- HO-6 insurance quote matched to master policy coverage
- Lender condo questionnaire or project approval status
Assumptions and limitations
- Outputs are planning estimates only, not quotes from lenders, insurers, or tax authorities.
- Actual HOA dues, insurance premiums, and tax assessments vary by building, location, and ownership status.
- PMI, special assessments, and reserve risk are modeled with simplified assumptions unless you enter your own figures.
- Always confirm numbers with association documents, your agent, and qualified professionals before making an offer.
Related calculators
Explore more tools for your condo search
- Condo CalculatorMonthly mortgage, HOA fees, taxes, and insurance
- Condo ExpensesFree condo expenses calculator: estimate monthly mortgage, HOA, taxes, insurance, PMI, utilities, and assessment buffer in one payment.
- Condo HOA FeeCalculate how condo HOA fees affect your total monthly payment, annual dues, and budget if fees rise 10% or 20%.
Related guides
Learn the basics before you run the numbers
- HOA FeesWhat condo HOA fees cover, typical costs, and how to evaluate dues before you buy.
- Monthly HOA Fees for CondosTypical monthly HOA fee ranges, what dues cover, and how to verify condo association fees before you buy.
- Condo Fees vs HOA FeesCondo fee vs HOA fee explained: when the terms mean the same monthly dues, and when they do not.