Is it better to rent or buy?

The NY Times has a great interactive calculator for evaluating the trade-offs of buying vs. renting. It looks to cover everything:

  • House Price
  • Interest rates
  • Length of mortgage
  • Downpayment
  • Planned time to occupy
  • Future rental rates
  • Housing market expected increases
  • Taxes
  • Maintenance fees

It produces a number like:

If you can rent a similar
home for less than …
$961 PER
MONTH
… then renting is better.