Free Rent vs Buy CalculatorNo NYT Paywall Required
The New York Times rent vs buy calculator is the most-recommended tool for this decision — but it requires a paid subscription. SmartRentOrBuy gives you the same rigorous analysis, completely free, with city-specific data for 500 U.S. cities.
How SmartRentOrBuy Compares
We audited every major rent vs buy calculator. Here is what each one gets right — and where they fall short.
| Feature | SmartRentOrBuy | NYT | NerdWallet | SmartAsset | Bankrate |
|---|---|---|---|---|---|
| Free to use | |||||
| City-specific data (500 cities) | |||||
| Break-even year prominently shown | |||||
| Opportunity cost (FV compounding) | |||||
| Property tax by city | |||||
| HOA fee input | |||||
| Rent inflation modeling | |||||
| Home appreciation by market | |||||
| Correct $750K mortgage cap (2017 TCJA) | |||||
| Shareable results URL | |||||
| City comparison pages | |||||
| No ads or upsells |
Last audited May 2026. NYT calculator requires active subscription ($17–$25/month).
What the NYT Calculator Gets Wrong
The NYT calculator is the most-cited tool in personal finance circles — and it is genuinely rigorous. But it has three specific, documented problems that affect its accuracy.
Paywalled
You need an active New York Times subscription ($17–$25/month) to use it. The tool is not available to non-subscribers, which is why millions of people search for free alternatives every month.
PV vs FV Opportunity Cost Error
The NYT calculator discounts investment returns to present value (PV formula) instead of compounding them to future value (FV formula). This fundamentally understates the opportunity cost of the down payment — the money you could have invested instead.
Missing $750K Mortgage Cap
The 2017 Tax Cuts and Jobs Act capped the mortgage interest deduction at $750,000 in loan principal. The NYT calculator does not correctly implement this cap, which overstates the tax benefit for homes priced above $937,500 (with a 20% down payment).
Sources: The PV/FV error and $750K cap issue were independently documented by users on r/FirstTimeHomeBuyer and housecalculators.com . SmartRentOrBuy uses future-value compounding for opportunity cost and correctly implements the $750K deduction cap.
Try the Calculator Now
Enter your numbers below. For city-specific data (median home prices, local property tax rates, average rents), browse our 500 city pages.
Start Your Calculation
Enter your details below to see the true cost of renting vs buying.
Why People Switch from the NYT Calculator
Real reasons users cite when looking for alternatives.
"Hit the NYT paywall for the third time. I just want to run the numbers without subscribing to a newspaper."
r/personalfinance
"The NYT calculator doesn't show its math. I want to see exactly how it's calculating opportunity cost."
r/FirstTimeHomeBuyer
"SmartAsset's opportunity cost is half of what NYT shows. Someone's calculation is wrong."
r/FirstTimeHomeBuyer
"I need a calculator that uses my city's actual property tax rate and home prices, not national averages."
r/RealEstate
Frequently Asked Questions
Common questions about the NYT calculator and free alternatives.
Is there a free version of the NYT rent vs buy calculator?
The New York Times rent vs buy calculator requires a paid NYT subscription. SmartRentOrBuy.com is a completely free alternative that uses the same core methodology but adds city-specific data for 500 U.S. cities, a prominently displayed break-even year, and transparent calculation breakdowns — all without a paywall.
What is wrong with the NYT rent vs buy calculator?
The NYT calculator has three documented issues: (1) It is paywalled — you need an active NYT subscription to use it. (2) It uses present-value discounting (PV formula) for opportunity cost instead of future-value compounding (FV formula), which understates the true investment opportunity cost. (3) It does not correctly implement the $750,000 mortgage interest deduction cap introduced by the 2017 Tax Cuts and Jobs Act, which affects calculations for high-value homes.
How does SmartRentOrBuy compare to the NYT calculator?
SmartRentOrBuy is free, covers 500 specific U.S. cities with real local data (median home prices, average rents, property tax rates), shows the break-even year prominently, and uses future-value compounding for opportunity cost. The NYT calculator is a single generic national tool behind a paywall.
Is SmartRentOrBuy more accurate than NerdWallet's rent vs buy calculator?
NerdWallet's calculator uses only five inputs and does not model opportunity cost or investment returns. SmartRentOrBuy uses 20+ inputs including property tax rates, HOA fees, maintenance costs, home appreciation, rent inflation, and investment return rates — giving a much more complete picture of the true financial comparison.
Which rent vs buy calculator is most accurate?
The most accurate calculators are those that model: (1) opportunity cost using future-value compounding, (2) city-specific property tax rates and home appreciation, (3) the full cost of homeownership including maintenance, insurance, and closing costs, and (4) rent inflation over time. SmartRentOrBuy models all of these. The NYT calculator is widely cited as the most rigorous methodology, but it is paywalled and has the documented PV/FV error noted above.
Can I use SmartRentOrBuy for a specific city?
Yes. SmartRentOrBuy has dedicated pages for 500 U.S. cities, each pre-populated with local median home prices, average rents, property tax rates, and a calculated break-even year. You can also manually enter any values to model your specific situation.