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Crunching costs, sorting signals, rendering insights.
Crunching costs, sorting signals, rendering insights.
Should you buy or rent?. Analyze housing costs with real data from 288 U.S. cities.
Updated June 2025 · 288 U.S. cities · Free forever
In Denver, renting is $22,723/month cheaper. Renting keeps you flexible, but you won't build equity.
Step-by-step breakdown
Type your annual salary or income. For hourly workers, multiply your hourly rate by 2,080 (40 hours × 52 weeks). Include base salary, bonuses, and any regular overtime.
Select from 288 U.S. cities. We'll instantly load that city's cost-of-living index, median rent, state tax rate, and local expense data.
Click calculate and see a complete financial breakdown — highlighted summary, line-by-line cost analysis, a clear verdict, and comparisons across multiple cities.
Scroll down to see how your results compare across America's largest and most affordable cities, with color-coded indicators showing where your money goes furthest.
Use the related calculators below to analyze your finances from every angle — tax breakdowns, rent affordability, moving costs, and more.
Comparing 8 major metropolitan areas
| City | State | Result | Detail |
|---|---|---|---|
| New York | NY | Renting is cheaper | $90,729/mo difference |
| Los Angeles | CA | Renting is cheaper | $58,069/mo difference |
| Toledo | OH | Renting is cheaper | $13,931/mo difference |
| Sunnyvale | CA | Renting is cheaper | $133,112/mo difference |
| Philadelphia | PA | Renting is cheaper | $25,502/mo difference |
| Austin | TX | Renting is cheaper | $67,918/mo difference |
| Jackson | MS | Renting is cheaper | $3,697/mo difference |
| San Francisco | CA | Renting is cheaper | $80,044/mo difference |
Results based on default inputs. Adjust the calculator above for personalized results.
Housing affordability has reached crisis levels in many American cities, with the national median rent surpassing $1,500/month. The Department of Housing and Urban Development (HUD) defines "cost-burdened" as spending more than 30% of gross income on housing — and nearly half of American renters now meet that definition. In cities like Sunnyvale, median rent consumes 40-60% of a typical worker's take-home pay. Understanding your exact affordability threshold prevents you from overcommitting on housing and sacrificing savings, retirement contributions, or quality of life.
Housing is the single largest expense for most Americans, consuming 25-50% of take-home pay depending on the city. Whether you're evaluating rent affordability, weighing buying versus renting, or considering a move to a cheaper area, the financial stakes are enormous. The Buy vs Rent Calculator on Livably uses real-time data from 288 U.S. cities — including median rents, cost-of-living indices, tax rates, and local expenses — to give you a precise, personalized answer. Should you buy or rent?. Analyze housing costs with real data from 288 U.S. cities. Whether you're planning a move, negotiating a job offer, or simply curious about your financial standing, this free calculator gives you the hard numbers you need in seconds.
Expert insights to maximize your results
The 30% rule is just a guideline — in high-cost cities, spending 35% on housing may be necessary, but cut other categories to compensate.
Roommates can reduce rent burden by 30-45%, which often matters more than a small salary increase.
When comparing buy vs. rent, add 1-2% of home value annually for maintenance and repairs on top of mortgage, taxes, and insurance.
Renters insurance costs $15-30/month in most cities and covers $20,000-$50,000+ in belongings — it's almost always worth it.
Security deposits in most states must be returned within 14-30 days. Know your state's rules before you move in.
Transparent, data-driven methodology
Our buy vs rent calculator analysis uses city-specific median rent data, median home prices, current mortgage rates (30-year fixed), property tax rates by county, and homeowner's insurance estimates. Buy-vs-rent calculations include down payment assumptions (20%), mortgage amortization, property taxes, insurance, and maintenance reserves (1% of home value annually). Data is sourced from the U.S. Bureau of Labor Statistics (BLS), Census Bureau American Community Survey (ACS), and verified local sources across 288 U.S. metropolitan areas. All calculations are updated for 2025.
Everything you need to know about this tool
Enter your income and city to get personalized housing cost analysis using local rent medians, home prices, and tax rates.
The 30% rule suggests spending no more than 30% of your gross monthly income on rent. HUD defines anyone exceeding this threshold as 'cost-burdened.' However, this guideline was created in 1981 — in high-cost cities, many financial advisors now suggest using 30% of net (after-tax) income as a more realistic benchmark.
The answer depends heavily on your city, and how long you plan to stay. With mortgage rates around 6.5%, buying is often more expensive monthly than renting in expensive cities. The break-even point (where buying becomes cheaper) is typically 5-7 years. In affordable cities with low property taxes, buying may make sense sooner.
Traditional loans require 20% down to avoid PMI (Private Mortgage Insurance). FHA loans allow as little as 3.5% down. On a $300,000 home, that's $60,000 traditional or $10,500 FHA. PMI adds $100-300/month to your payment until you reach 20% equity.
Rent varies 30-60% across neighborhoods in the same metro area. Downtown and trendy neighborhoods command premiums of 40-70% over outlying areas. For budget-conscious movers, neighborhoods one transit stop outside the core often offer 20-30% savings with minimal convenience trade-offs.
Budget for electricity ($80-250/mo), gas/heating ($30-150/mo), water/sewer ($30-80/mo), internet ($50-100/mo), renter's insurance ($15-30/mo), and trash (often included in rent). Total utility costs range from $200 in mild-climate cities to $500+ in extreme-climate areas.
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