Total Annual Costs

Homeowner

Renter

annual mortgage/rental payment

$15,168

$12,000

real estate taxes

$2,760

0

mortgage interest tax deduction

-$3,864

0

property tax deduction

-$816

0

mortgage principal accumulation

-$2,232

0

appreciation

-$9,450

0

Total Annual Costs

$1,566

$12,000

*Based on 4.5% annual appreciation and principal applied mortgages.  NAR Median Sales Price data series