Rent vs buy calculator · England
Rent vs buy in Bromley: is it cheaper to rent or buy?
Renting leaves you £20,120 better off after 7 years. Owning a 2-bed terraced house costs about £3,264 a month, against £1,800 to rent the same size home.
- After 7 years
- Rent +£20,120
- Difference in net wealth
- Monthly cost to own
- £3,264
- Mortgage £2,656, of which £802 is capital
- Monthly cost to rent
- £1,800
- Rent £1,641 plus council tax
- Median price
- £515,000
- terraced house
- Cash needed to buy
- £67,250
- £51,500 deposit + £15,750 SDLT
- Price-to-rent ratio
- 26.2
- Price divided by a year of rent
Renting vs buying in Bromley by home size
| Bedrooms | Price | Rent / mo | Owning vs renting / mo | After 7 yrs |
|---|---|---|---|---|
| 1 bed | £335,000 | £1,312 | +£716 | Buy £26,605 |
| 2 bed | £515,000 | £1,641 | +£1,465 | Rent £20,120 |
| 3 bed | £625,000 | £1,990 | +£1,775 | Rent £26,658 |
| 4+ bed | £895,000 | £2,926 | +£2,456 | Rent £31,965 |
Average rent and house prices in Bromley
The ONS average private rent in Bromley is £1,684 a month (Aug 2026, provisional), up 2.7% on a year earlier. The median price paid is £525,000 (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 £1,902 a year (Band C) and is paid whether you rent or buy, so it does not change the verdict.
Renting or buying in Bromley: FAQs
Is it cheaper to rent or buy in Bromley?
For a 2-bed home in Bromley, owning costs about £3,264 a month and renting about £1,800, both including council tax. Renting leaves you £20,120 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 Bromley?
The ONS average private rent in Bromley is £1,684 a month across all home sizes (Aug 2026, provisional), with £1,312 for 1 bed, £1,641 for 2 bed, £1,990 for 3 bed, £2,926 for 4 or more bed. Rents rose 2.7% over the past year.
What is the average house price in Bromley?
The median price paid in Bromley is £525,000 (ONS median price paid, year ending Mar 2026). The calculator uses £515,000 for a terraced house, the property type typical for a 2-bed home.
How much is stamp duty on an average home in Bromley?
A first-time buyer paying £515,000 would pay £15,750 in SDLT. With a 10% deposit of £51,500, the cash needed on day one is about £67,250.
What is the price-to-rent ratio in Bromley?
About 26.2: the 2-bed price is 26.2 times a year of rent. Higher ratios favour renting; lower ratios favour buying.
Which home size is best value to buy in Bromley?
On the default assumptions, a 1-bed home gives buying its strongest position: buying ahead by £26,605 after 7 years.
Areas with a similar price-to-rent ratio
Browse every local authority.