As noted at the top, it does not yet account for recent changes in the tax code. But I enjoy using it alongside the popular NYT Upshot calculator for comparison:
The Ultimate Rent vs. Buy Calculator
Scroll down the page for more info about the calculator. Elsewhere on the site is an article about home value appreciation and why you should set the calculator conservatively, about even with inflation (because if housing always outpaced inflation, no one could afford to buy).
Sometimes the results come out more nuanced than what's "better." For example, I've run scenarios in which buying is better than renting over 10 or 20 years but then renting becomes a better deal after that. And of course "better" is not always in the finances.
Anyway, just another interesting tool.
The Ultimate Rent vs. Buy Calculator
Scroll down the page for more info about the calculator. Elsewhere on the site is an article about home value appreciation and why you should set the calculator conservatively, about even with inflation (because if housing always outpaced inflation, no one could afford to buy).
Sometimes the results come out more nuanced than what's "better." For example, I've run scenarios in which buying is better than renting over 10 or 20 years but then renting becomes a better deal after that. And of course "better" is not always in the finances.
Anyway, just another interesting tool.