The real math most calculators skip. See your total wealth under both paths.
The US mortgage interest deduction can reduce your monthly cost of owning — but only if you itemize deductions above the $14,600 standard deduction (single) or $29,200 (married). Most buyers in lower-cost markets don’t benefit from this as much as they expect. This calculator accounts for that threshold.
If your down payment is less than 20%, you’ll pay Private Mortgage Insurance (PMI) — typically 0.5% of your loan balance annually — until you hit 20% equity. This hidden cost shifts the math toward renting in the early years.
On the bright side, the US offers generous capital gains exemptions on your primary residence: $250,000 for single filers, $500,000 for married couples. In most scenarios, you won’t owe capital gains tax when you sell.