NYC Rent vs. Buy Calculator

Trying to decide whether to keep renting or buy in NYC? This calculator weighs the real cost of both paths — purchase price, financing, closing costs, taxes, maintenance, and what your money would earn if invested instead — and tells you which one wins over your expected time horizon, and when buying starts to pay off. Not sure what co-op maintenance tax-deductible percentage to enter below? Use our Co-op Maintenance Tax Deduction Calculator first.

Results

Total Cost of Renting
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Total Cost of Buying
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Buying? You could get money back. When you buy with a NestApple agent, we rebate two-thirds of our buyer-agent commission back to you at closing (NestApple keeps a minimum of 1%) — on top of whatever this calculator shows. Contact us for your exact rebate estimate.

The Basics

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Financing Details





Homeownership Costs



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Advanced Assumptions







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Detailed Breakdown
ItemAmount
Loan Amount$0
Monthly Mortgage Payment (P&I)$0
Buyer Closing Costs$0
Initial Cash – Buy (down payment + closing costs)$0
Initial Cash – Rent (security deposit)$0
Total Rent Paid Over Holding Period$0
Total Ownership Costs, Net of Tax Benefit$0
Total Tax Benefit From Owning$0
Opportunity Cost of Initial Cash (Buy)$0
Opportunity Cost of Recurring Costs (Buy)$0
Opportunity Cost of Recurring Costs (Rent)$0
Opportunity Cost of Security Deposit (Rent)$0
Projected Sale Price at End of Holding Period$0
Seller Closing Costs at Sale$0
Remaining Mortgage Balance at Sale$0
Capital Gains Tax (above $250k/$500k exclusion)$0
Net Sale Proceeds$0

Glossary & Methodology

We built this calculator to compare the true, all-in cost of renting versus buying in NYC — not just the monthly payment. Here is what each line item means.
Total Cost of Renting / Buying

The all-in cash cost of each path over your chosen holding period: what you pay out (rent, or mortgage + taxes + maintenance), plus the investment growth you gave up by not investing that cash elsewhere, minus (for buying) what you get back when you sell. Lower is better.

Breakeven Year

The first year in which the total cost of buying drops below the total cost of renting, given your assumptions. Sell before this year and renting would likely have been cheaper; stay past it and buying wins.

Opportunity Cost

Cash you put into a down payment, closing costs, or a security deposit isn’t invested elsewhere. This line estimates the investment growth you forgo on that cash at your chosen investment return rate, over your holding period.

Tax Benefit From Owning

Homeowners can deduct mortgage interest (on the first $750,000 of loan principal) and state/local taxes including property tax (capped at $40,000 through 2029 under current federal law), if itemizing beats the standard deduction. This line estimates the resulting tax savings versus taking the standard deduction.

Capital Gains Exclusion

Selling your primary residence, you can typically exclude up to $250,000 of gain ($500,000 if married filing jointly) from capital gains tax. This calculator applies that exclusion before taxing any remaining gain.

Buyer & Seller Closing Costs

Computed the same way as our NYC Closing Costs Calculators: mansion tax, attorney fees, title insurance, mortgage recording tax, transfer taxes, broker commission, and building-specific fees for condos and co-ops.

Disclaimer: NestApple’s NYC Rent vs. Buy Calculator is an estimate for reference purposes only, built on the assumptions you enter (appreciation, rent growth, investment returns, tax rates) — change any of them and the answer can change. It is not tax, legal, financial, or accounting advice. Always consult your own tax, legal, and financial advisors before making a buy-or-rent decision. NestApple is a licensed real estate broker and professional service provider.