House Hacking Calculator — Philadelphia, PA
Pre-filled with localized assumptions for Philadelphia. Replace the defaults with your real numbers (rent comps, taxes, insurance, repairs, and reserves) to get an accurate result.
Inputs
Results
You save money vs renting.
- Rental units: 3 (you live in 1)
- Rental income (gross): $3,150
- Rental income (after vacancy): $2,930
- Operating expenses: $950
- Mortgage payment: $2,023
- Total housing cost: $2,973
- Offset by rental income: −$1,980
- Your net cost: $993
- If you rented instead: $1,050/month
- House hacking cost: $993/month
- Monthly difference: $57
Tip: FHA loans allow 3.5% down on 2-4 unit properties if you live in one. Down payment: $16,000
Philadelphia Local Market Note
Informational onlyPhiladelphia offers some of the lowest big-city entry prices on the East Coast, with rowhome neighborhoods like Kensington, Point Breeze, and Brewerytown popular for BRRRR strategies. The city levies its own realty transfer tax on top of the state's — combined it exceeds 4%, materially affecting flip math. A ten-year tax abatement program for improvements still exists but was scaled back for residential projects starting in 2022.
Local context for general information — not financial, legal, or tax advice. Verify current regulations and market data before making investment decisions.
How to Use This House Hacking Calculator (Mini Guide)
Live in one unit of a 2-4 unit property and rent out the others — see how much you save vs renting and whether you can live for free (or profit). These defaults are pre-filled for Philadelphia, PA. Always replace them with your real numbers when you have them.
What house hacking is
Buy a duplex, triplex, or fourplex with an owner-occupant loan (3.5-5% down).
Live in one unit, rent out the others.
Rental income offsets (or eliminates) your housing cost.
Why house hacking is powerful
FHA loans allow 3.5% down on 2-4 unit properties if you live in one.
Conventional loans allow 5% down on 2-unit, 10-15% on 3-4 units.
You get investment property benefits with homeowner financing.
How to use this calculator
Enter purchase price and number of units (2, 3, or 4).
Enter rent per rental unit (not your own).
Value of your unit = what you'd pay to rent something similar.
Net cost = your total housing cost minus rental income offset.
What success looks like
Net housing cost < $500/month = you're winning.
Net housing cost ≤ $0 = you live for free.
Net housing cost < $0 (negative) = tenants pay you to live there.
Reality check
You're a landlord living next door to tenants — not for everyone.
Vacancy and maintenance are real — don't assume 0%.
Market rent matters — verify with comps, not wishful thinking.
How to use this calculator in Philadelphia
Start with the pre-filled assumptions for Philadelphia, then replace them with your deal’s numbers. If you’re an investor, keep vacancy and reserves conservative. If you’re a homeowner, pay special attention to property taxes and insurance — these often drive the rent vs buy decision.
Nearby cities in PA
Explore nearby cities to compare assumptions and outcomes.