Renting
Buying
After 7 years, buying costs less by
$28,217
Rent Paid
$183,899
Owner Outlay
$342,940
Equity Built
$187,257
Net Cost To Own
$155,682
Mortgage payment $2,560/mo · interest paid $176,215
Year By Year
| Year | Total Rent | Total Owner Cost | Equity | Net Own Cost |
|---|---|---|---|---|
| 1 | $24,000 | $86,669 | $63,027 | $23,642 |
| 2 | $48,720 | $128,621 | $81,762 | $46,859 |
| 3 | $74,182 | $170,865 | $101,237 | $69,627 |
| 4 | $100,407 | $213,409 | $121,488 | $91,922 |
| 5 | $127,419 | $256,264 | $142,549 | $113,715 |
| 6 | $155,242 | $299,438 | $164,459 | $134,979 |
| 7 | $183,899 | $342,940 | $187,257 | $155,682 |