Rent vs Buy Calculator California
California has low property tax (Prop 13) but very high prices. See the break-even.
100% runs in your browser — no upload, no trackingThese are estimates using standard formulas (amortization and the common 28%/36% guideline). They are not financial or real-estate advice — confirm any number with a lender or broker.
How the monthly payment is calculated
The calculator totals the cash you would spend buying (down payment, mortgage, tax, insurance, maintenance) and subtracts the equity you build, then compares it to total rent minus what your down payment could have earned invested. The break-even is the year buying pulls ahead.
California housing facts
California has Proposition 13, which caps annual assessed property-tax growth at 2%, so effective rates stay low (about 0.74%) even though home prices are among the highest in the US. Los Angeles and the Bay Area pull the statewide median near $850k. High prices are the main reason many Californians run the rent-vs-buy math.
FAQ
How is the monthly mortgage payment calculated?
It is an amortizing loan: payment = loan × r(1+r)^n / ((1+r)^n − 1), where r is the monthly rate and n the number of months. Add tax, insurance and maintenance for the full monthly cost.
What does the rent-vs-buy break-even mean?
It is the number of years you would need to stay before buying costs less than renting, on the assumptions you entered. Stay longer and buying usually wins; move sooner and renting usually wins.
Is my data uploaded?
No. All calculations run in your browser. The numbers you enter never leave your device.
Is this financial advice?
No. These are planning estimates using standard formulas. Confirm any mortgage or housing decision with a lender, broker, or tax professional.