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Rent vs. Buy — Quick Calculator (Wichita Buyer’s Blueprint)
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🏠 Buying Inputs🏡 Renting Inputs
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Home Price ($)$250,000.00Monthly Rent ($)$2,000.00
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Down Payment (%)3.50%Rent Annual Increase (%)3.00%
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Interest Rate (annual %)6.50%
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Loan Term (years)30
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Property Tax Rate (as % of price, annual)
1.30%
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Home Insurance (annual $)$1,800.00
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HOA (monthly $)$0.00
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Maintenance (as % of price, annual)
1.00%
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Years to Compare5
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Home Appreciation (annual %)3.00%
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📊 Monthly Ownership Breakdown (auto-calculated)
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Loan Amount$241,250.00
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Monthly Interest Rate0.54%
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Total Payments (nper, months)360
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Mortgage Payment (P&I, monthly)$1,524.86
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Property Taxes (monthly)$270.83
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Home Insurance (monthly)$150.00
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HOA (monthly)$0.00
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Maintenance (monthly)$208.33
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Total Monthly Owning Cost (cash out)
$2,154.03
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🏁 Results Over Selected Years
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Total Rent Paid (over N years)$127,419.26
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Total Owning Cash Out (over N years)
$137,991.85
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Home Value After N Years$289,818.52
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Remaining Loan Balance After N Years
$225,836.48
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Estimated Equity After N Years$63,982.04
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Net Cost of Owning (Out-of-pocket minus equity gained)
$74,009.81
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Rent vs Buy — Which is cheaper? (lower $ wins)
Buying (owning)
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Notes:
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• This is a simplified model. Actual results vary with closing costs, tax credits, PMI, maintenance surprises, and selling costs.
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• Equity = (Home value after N years) – (Remaining loan balance). Appreciation rate and rent inflation are assumptions you can adjust.
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• Use this as a directional tool to compare scenarios, not as financial advice.
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