Rent or Buy in Jacksonville?
See your break-even year and the true cost comparison over time, with Jacksonville home appreciation, property taxes, and selling costs factored in.
Break-Even Year
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| Year | Cum. Rent | Net Own Cost | Advantage |
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Frequently Asked Questions
What is the break-even year?
The year at which the total cost of buying (including down payment, closing costs, mortgage, tax, insurance, and selling costs) becomes lower than the total cost of renting. Before break-even, renting is cheaper. After break-even, owning wins.
Why does this calculator include selling costs?
When you sell a home, you typically pay 6-7% in agent commissions plus ~1% in closing costs. This calculator subtracts those costs from your equity to show your TRUE break-even, not just a 'look at my paper equity' number.
What appreciation rate should I use?
Jacksonville's 20-year average home appreciation is ~4%/year, though recent years have been higher. Be conservative, use 3-4% for long-term planning. The Jacksonville MLS publishes monthly reports with current trends.
What if I don't stay the full break-even period?
If you move before break-even, you likely lose money vs. renting. This is why real estate guidance typically says: 'Only buy if you plan to stay 5+ years.' Military PCS moves are an exception, VA loans and no-PMI can shift this math.
Does this include maintenance costs?
Not directly, this calculator focuses on cash costs (mortgage, tax, insurance). Factor in 1% of home value per year for maintenance when making your final decision. That's $4,000/year on a $400K Jacksonville home.