Rent vs Buy Calculator — Des Plaines, IL
Built for programmatic SEO: city-specific defaults + FAQ schema + internal links. Update assumptions any time as you learn what converts.
Defaults: ILAd-ready placementsFAQ schema
Inputs
Results
Renting is cheaper (monthly).
All-in buy (monthly)
$3,171
Rent (monthly)
$2,300
Buy − Rent
$871
Breakdown (buy)
- Mortgage: $1,972
- Property tax: $713
- Insurance: $170
- HOA: $0
- Maintenance: $317
- Down payment: $76,000
Tip: This compares *monthly cash cost* only. For a full model (equity, appreciation, tax effects), add a “5-year horizon” later.
How to use this calculator in Des Plaines
Start with the pre-filled assumptions for Des Plaines, then replace them with your deal’s numbers. If you’re an investor, keep vacancy + CapEx reserves conservative. If you’re a homeowner, pay special attention to property taxes and insurance (these often drive the rent vs buy decision).
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FAQ
What are the biggest drivers of rent vs buy in Des Plaines, IL?
The biggest drivers are interest rate, property taxes, insurance, and your down payment. Small changes in taxes/insurance can swing the result.
Is this a full 5-year rent vs buy model?
Not yet — it’s a quick monthly cash-cost comparison. You can extend it later with appreciation, rent growth, and opportunity cost.
Should I change the maintenance assumption?
Yes. 1% of home value per year is a common rule-of-thumb, but older properties or deferred maintenance can require more.