calculations

Compare renting with buying

Compares renting and buying on net wealth rather than on monthly payment, accounting for equity, appreciation, maintenance, selling costs, and the return a renter earns on money not spent on a down payment. Returns the year buying overtakes renting. The result is highly sensitive to the appreciation and investment-return assumptions, which are returned alongside it.

post/api/v1/calculate-rent-vs-buy

Request

  • Base URL: https://www.usmortgagecalc.com
  • URL: https://www.usmortgagecalc.com/api/v1/calculate-rent-vs-buy
  • Auth: none declared

Request body

homePricenumber required

Purchase price of the home in US dollars.

downPaymentPercentnumber

Down payment as a percentage of the purchase price, 0 to 100. Not a dollar amount.

annualInterestRatePercentnumber

Annual nominal interest rate as a percentage, for example 6.5 for 6.5%.

loanTermYearsinteger

Loan term in years. Most US mortgages are 15 or 30.

annualInsurancenumber

Annual homeowners insurance premium.

monthlyHoanumber

Monthly HOA dues.

monthlyRentnumber required

Current monthly rent for a comparable home.

annualRentIncreasePercentnumber

Expected annual rent growth.

annualHomeAppreciationPercentnumber

Expected annual home price growth. The answer is highly sensitive to this.

annualMaintenancePercentnumber

Annual upkeep as a percentage of home value. Typically 1 to 2.

investmentReturnPercentnumber

Return a renter earns on cash not tied up in a house.

sellingCostPercentnumber

Cost of selling, including agent commission.

yearsToCompareinteger

Horizon of the comparison.

statestring

Full US state name, for example "Texas". Used to look up the average property tax rate. Either this or propertyTaxRatePercent is required.

propertyTaxRatePercentnumber

Annual property tax as a percentage of home value. Omit and pass state instead to use that state's average.

Response

Calculation result.

dataobject

The calculation result.

Changes

No recorded changes to this operation across all 1 revision of this API.