real estate

Buy or Rent?

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.

Who can live here?

Here is similar data to to the Interactive Census Data but with a little more Manhattan orientation. The interactive chart let’s you look at different neighborhoods and shows the income distribution. You can also see how many people can afford to live there assuming they can pay 30% of their income for rent.
Envisioning Development