The NY Times Rent or Buy Calculator compares the cost of renting versus buying a home. Enter your monthly rent, projected price of buying a house, mortgage rate, and property tax and the calculator will spit out the number of years after which buying is better than renting.
An extremely useful tool especially in today’s sliding housing market where some homeowners are experiencing negative equity. But as with any online tool, don’t replace it with the experience of a human. Trust but verify.