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District of Columbia Rent vs Buy

Compare renting vs buying a home in District of Columbia over a chosen holding period.

About District of Columbia Rent vs Buy

Compares the full cost of renting vs buying over the holding period, net of assumed home appreciation. Taxes, maintenance, insurance and the return on the down payment tilt the result either way.

Formula

Compare

Buy cost ≈ payments + down payment − appreciation; rent cost = rent × months

Worked example

With the default values below, District of Columbia Rent vs Buy returns Recommendation of Renting is cheaper over 7 years.. Change any input above and every figure here is recalculated in your browser.

Inputs used

Monthly rentminimum 0
2,200
Home priceminimum 0
500,000
Down payment %accepts 0–100
20
Mortgage rateaccepts 0–30
6.5
Holding period (years)accepts 1–30
7
Home price growth / yearaccepts 0–10
3

Results

Recommendation
Renting is cheaper over 7 years.
Total Cost of Buying
$598,941.07
Total Cost of Renting
$184,800.00
Net Cost After Appreciation
$484,004.13
Equity Gained
$114,936.93
Monthly Mortgage P+I
$5,939.77

Step by step

  1. 1Values used
  2. 2Compare
  3. 3Recommendation= Renting is cheaper over 7 years.
  4. 4Total Cost of Buying= 598,941.07
  5. 5Total Cost of Renting= 184,800.00
  6. 6Net Cost After Appreciation= 484,004.13
  7. 7Equity Gained= 114,936.93
  8. 8Monthly Mortgage P+I= 5,939.77

Assumptions and limits

  • The result is derived only from the 6 inputs listed above. Anything not among them is not part of the calculation.
  • In particular, this calculator does not take inflation, tax or fees or charges into account.
  • Figures are rounded for display to 2 decimal places, so totals built from several rounded parts can differ slightly from the unrounded arithmetic.
  • Simplified comparison only.
  • This is an estimate for general information and not professional financial, tax or legal advice. See the full disclaimer for the limits that apply to this kind of calculator.

How these calculators are built and tested is described on the Methodology page. If a figure looks wrong, please report it.

Simplified comparison only.

Frequently Asked Questions

What else should I include?

Maintenance (≈1% of value/year), property tax, insurance, HOA and the investment return on the down payment.

How accurate is this estimate?

Rates are approximate reference values. Local rates, exemptions and rules can differ, so treat the output as a planning figure only.

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District of Columbia Rent vs Buy – Calculate Recommendation