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. Free tool—enter your own assumptions. Results do not include appreciation, tax benefits, or closing costs.
Last updated: July 2026
How this rent vs buy condo calculator 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 condos, include HOA from the current association budget—not a stale listing. Renters do not pay association dues; owners do, and dues often rise when insurance renews or reserves are replenished.
Read rent vs buy condo calculator explained for what this tool includes and excludes, or should I buy a condo or rent for the full decision framework.
For a deeper breakeven timeline, see the rent vs buy breakeven calculator or how long should you stay before buying.
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.
When to use this calculator
- You can afford a down payment but are unsure whether buying beats renting over your planned stay
- HOA and tax lines make ownership look close to rent on monthly cash flow
- You want a simple cumulative cost comparison before reading longer breakeven guides
Inputs you need
- Condo purchase price and down payment
- Interest rate and planned years in the home
- Monthly HOA, property tax rate, and insurance
- Comparable monthly rent for a similar unit
How to interpret the result
- A lower cumulative ownership cost over your hold period suggests buying may fit your timeline—but this tool ignores equity, appreciation, and closing costs
- If buying costs more over five years, read how-long-should-you-stay guides before assuming renting is always cheaper
- Re-run with higher HOA or tax when comparing coastal or high-tax markets
What this calculator does not know
- Live tax bills, insurance quotes, or HOA budgets from any database
- Lender approval, HOA questionnaire results, or project eligibility
- Future HOA increases unless you change the inputs yourself
- Home appreciation or depreciation
- Closing costs, selling costs, and tax benefits of ownership
- Rent increases or lease break fees you have not entered
Documents to verify before relying on the estimate
- HOA budget and most recent financial statements
- Reserve study and percent-funded summary
- Master insurance declarations and renewal summary
- County property tax estimate for the unit at your offer price
- HO-6 insurance quote matched to master policy coverage
Educational estimates only. Confirm figures with association documents, county tax offices, and licensed professionals before you make an offer.
Related: Calculator explained · Affordability calculator · Opportunity cost · How long to stay · Closing cost calculator
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- HOA FeeFree HOA fee calculator and condo fee calculator: calculate how association dues affect total monthly payment and stress-test 10% or 20% fee increases. No signup.
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.
- Average Condo HOA FeesAverage condo HOA fees explained: typical monthly ranges by building type, what dues cover, and how to verify fees before you buy—not just a national average.
- Condo HOA FeesWhat condo HOA fees are, how they differ from mortgage and tax, typical ranges, and how to verify dues with the free HOA fee calculator before you buy.