http://www.ginniemae.gov/rent_vs_buy/rent_vs_buy_calc.asp?section=YPTH
It's a nice tool but doesn't take into account the fact that rent increases over time. But here's a static data set that makes sense:
It's a nice tool but doesn't take into account the fact that rent increases over time. But here's a static data set that makes sense:
Years | Rent Payment | Mortgage Payment | Monthly Difference | After Tax Savings | Yearly Difference | After Tax Savings |
| 1 | 800 | 1000 | -200 | -50 | -2400 | -600 |
| 2 | 840 | 1000 | -160 | -10 | -1920 | -120 |
| 3 | 882 | 1000 | -118 | +32 | -1416 | +384 |
| 4 | 926 | 1000 | -74 | +76 | -888 | +912 |
| 5 | 972 | 1000 | -28 | +122 | -336 | +1464 |
| 6 | 1021 | 1000 | +21 | +171 | +252 | +2052 |
| 7 | 1072 | 1000 | +72 | +222 | +864 | +2664 |
| 8-30 | Savings increase every year | |||||
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