05 · Rent vs Buy
When does buying beat renting in NYC?
The honest answer depends on your time horizon. We bake in mansion tax, mortgage recording tax, and the real cost of selling — including the co-op flip tax on the way out.
Inputs
Property type
Break-even
Buying beats renting after
15+ yrs
Buyer comes out ahead at year —, assuming you'd sell at that point and pay NYC closing costs on the way out.
| Year | Buyer net worth | Renter portfolio |
|---|---|---|
| 1 | $189,761 | $338,243 |
| 3 | $282,296 | $461,694 |
| 5 | $382,326 | $593,524 |
| 7 | $490,572 | $734,351 |
| 10 | $670,119 | $963,933 |
| 15 | $1,023,151 | $1,401,832 |
Upfront cash to buy
Includes mansion tax — 1.00% tier · $12,000. Effective rate: 1.00%.
$279,480
Monthly P&I
$6,147
Carry + tax
$1,517
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