[quote=cooprider]This is the best rent vs. buy calculator I’ve come across

http://www.nytimes.com/2007/04/10/business/2007_BUYRENT_GRAPHIC.html?_r=1&ex=1185336000&en=92a35496df194374&ei=5070&oref=slogin#
[/quote]

It is a good calculator BUT you have to go into “advanced options” and tweak a few things.

First of all, it uses 20% income tax rate by default, which is not applicable here. Anyone who thinks about buying in San Diego will have his last dollar taxed at around 35%.

“Costs of buying home” are 4% of purchase price by default – I think it should be lower.