Rent vs buy calculator · England

Rent vs buy in Barking and Dagenham: is it cheaper to rent or buy?

Buying leaves you £45,157 better off after 7 years. Owning a 2-bed terraced house costs about £2,580 a month, against £1,884 to rent the same size home.

After 7 years
Buy +£45,157
Difference in net wealth
Monthly cost to own
£2,580
Mortgage £2,063, of which £623 is capital
Monthly cost to rent
£1,884
Rent £1,721 plus council tax
Median price
£400,000
terraced house
Cash needed to buy
£45,000
£40,000 deposit + £5,000 SDLT
Price-to-rent ratio
19.4
Price divided by a year of rent

Renting vs buying in Barking and Dagenham by home size

Rent vs buy in Barking and Dagenham by number of bedrooms
BedroomsPriceRent / moOwning vs renting / moAfter 7 yrs
1 bed£235,000£1,377+£52Buy £71,452
2 bed£400,000£1,721+£696Buy £45,157
3 bed£441,250£1,899+£765Buy £48,037
4+ bed£460,000£2,519+£257Buy £111,992

Average rent and house prices in Barking and Dagenham

The ONS average private rent in Barking and Dagenham is £1,698 a month (Aug 2026, provisional), up 2.6% on a year earlier. The median price paid is £385,000 (ONS median price paid, year ending Mar 2026).

Default scenario: 2-bed home, 7 years stay, 10% deposit, 4.80% fixed mortgage, monthly difference invested in a S&S ISA at 7.5%. Council tax is £1,954 a year (Band C) and is paid whether you rent or buy, so it does not change the verdict.

Renting or buying in Barking and Dagenham: FAQs

Is it cheaper to rent or buy in Barking and Dagenham?

For a 2-bed home in Barking and Dagenham, owning costs about £2,580 a month and renting about £1,884, both including council tax. Buying leaves you £45,157 better off after 7 years. This assumes a 2-bed home, 7 years stay, 10% deposit, 4.80% fixed mortgage, monthly difference invested in a S&S ISA at 7.5%.

What is the average rent in Barking and Dagenham?

The ONS average private rent in Barking and Dagenham is £1,698 a month across all home sizes (Aug 2026, provisional), with £1,377 for 1 bed, £1,721 for 2 bed, £1,899 for 3 bed, £2,519 for 4 or more bed. Rents rose 2.6% over the past year.

What is the average house price in Barking and Dagenham?

The median price paid in Barking and Dagenham is £385,000 (ONS median price paid, year ending Mar 2026). The calculator uses £400,000 for a terraced house, the property type typical for a 2-bed home.

How much is stamp duty on an average home in Barking and Dagenham?

A first-time buyer paying £400,000 would pay £5,000 in SDLT. With a 10% deposit of £40,000, the cash needed on day one is about £45,000.

What is the price-to-rent ratio in Barking and Dagenham?

About 19.4: the 2-bed price is 19.4 times a year of rent. Higher ratios favour renting; lower ratios favour buying.

Which home size is best value to buy in Barking and Dagenham?

On the default assumptions, a 4+-bed home gives buying its strongest position: buying ahead by £111,992 after 7 years.

How many years until buying pays off in Barking and Dagenham?

The lead first changes hands in year 2 on the default settings. Staying longer spreads stamp duty and selling costs over more years.

Areas with a similar price-to-rent ratio

Browse every local authority.