Indy-Specific Math

Buy vs Rentin Indianapolis.

Real numbers with local tax, insurance and maintenance defaults. Adjust the inputs to your situation.

Your inputs

Home price: $325,000

Down payment: 10% ($32,500)

Mortgage rate: 6.75%

Current monthly rent: $1,850

How long you'll stay: 7 yrs

Appreciation 3.5%/yr

Rent growth 3.0%/yr

The verdict

Buying wins

Over 7 years, buying saves you about $66,384.

Monthly payment (PITI)

$2,222

Monthly rent

$1,850

Equity in 7 yrs

$147,937

Net cost to own

$103,723

Estimates only. Uses ~0.85% Marion County property tax (with homestead), 0.35% insurance, 1% maintenance reserve, and 3% closing costs. Want a precise answer for a specific home?