Rent vs Buy Calculator

Discover whether renting or buying makes more financial sense for your situation in Orange County. Get detailed breakdowns and accurate projections.

If You Rent

/mo
OC average rent increase has been ~4-5% annually over the past 5 years
% annually
/mo

If You Buy

%
%
Current 30yr conventional rate as of March 2026: ~6.35% (Freddie Mac)
% of value
Orange County CA effective property tax rate averages ~1.1%
% of home value
CA average is ~0.3-0.4% of home value. OC averages ~$3,000-$4,500/yr depending on value and coverage
/mo
% annually
OC 10-year average appreciation: ~5-7% annually. Using conservative 4.5%
% of home value
Rule of thumb: budget 1% of home value annually for maintenance
% of loan
PMI typically ranges from 0.3% to 1.5% of loan amount. Removed once you reach 20% equity

Detailed Analysis

Monthly Cost: Renting

Monthly Rent $2,800
Renter's Insurance $25
Total Monthly $2,825

Monthly Cost: Buying

Mortgage (P&I) $4,890
Property Tax $781
Home Insurance $248
Maintenance $248
Total Monthly $6,367

Renting is cheaper monthly

by $1,542/month

10-Year Financial Comparison

Year Annual Rent Cost Annual Buy Cost Home Value Equity Built Net Wealth Cumulative Rent

Cumulative Cost Over Time

Monthly Rent Increase vs Fixed Mortgage

Net Wealth: Buying vs Renting (with 7% annual stock market returns)

Key Insights

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