Pinot Noir Mom · Philadelphia Real Estate
Rent vs. Buy
Philadelphia
Run the real numbers. When does buying actually beat renting in this market?
Your Rent Situation
Monthly Rent You Pay Now
$
Annual Rent Increase
%
Philly average: ~3–4% per year
The Home You'd Buy
Home Purchase Price
$
Down Payment
$
Closing Costs
$
Philly avg: ~3–4% of purchase price
Annual Home Appreciation
%
Philly 10yr avg: ~4–5%
Mortgage & Costs
Interest Rate
7.0%
Loan Term
30 yrs
Annual Property Tax
$
Philly avg: ~1–1.5% of value/yr
Annual Maintenance & Insurance
$
Rule of thumb: ~1–2% of home value
Time Horizon
How Long You Plan to Stay
5 years
Compare Rent vs. Buy →
Results
Renting costs more →
← Buying costs more