How to get a trustworthy answer

The calculator is only as good as the numbers you give it. A few minutes of homework makes a big difference:

  • Comparable rent: look up what homes of similar size, age and location actually rent for, not your current apartment.
  • Property tax: look up the home’s current tax bill on the Ada or Canyon County assessor’s site, then adjust for the homeowner’s exemption if you’ll live there.
  • Insurance and HOA: get a real insurance quote, and confirm HOA dues in the listing or HOA documents.
  • Rate and loan type: use the rate from a lender’s loan estimate. If you’re weighing an ARM, copy its caps from the same document.
  • Years you’ll stay: be honest. This one input moves the answer more than almost anything else.

For a walk-through of a full example, including when an ARM makes sense, read Rent or buy in Boise? How to run the numbers on a real house.

Frequently asked questions

How does this rent vs. buy calculator decide which option wins?

It tracks both paths month by month. Each month, whichever option costs less invests the difference. At the end of each year it estimates your net worth if you sold the home (after selling costs, paying off the loan and taxes on gains) versus cashing out the renter’s investments. Whichever is higher is ahead.

What is the break-even point?

It’s the first year in which buying pulls ahead of renting and stays ahead. Buying usually starts behind because of closing costs and the cost of selling, and catches up as you pay down the loan and the home (hopefully) appreciates.

Does it handle FHA, VA, USDA loans and ARMs?

Yes. It applies each program’s upfront fee and mortgage insurance rules, and models 5-year and 7-year adjustable-rate mortgages with the rate you expect after the intro period and your adjustment caps. It also shows the worst-case payment the caps allow.

Is my information saved or sent anywhere?

No. The calculations run in your browser. If you use “Copy a link to these numbers,” your inputs are included in that link so whoever opens it sees the same scenario.