Rent vs buy calculator · England
Rent vs buy in Chorley: is it cheaper to rent or buy?
Buying leaves you £56,855 better off after 7 years. Owning a 2-bed terraced house costs about £1,237 a month, against £943 to rent the same size home.
- After 7 years
- Buy +£56,855
- Difference in net wealth
- Monthly cost to own
- £1,237
- Mortgage £892, of which £269 is capital
- Monthly cost to rent
- £943
- Rent £763 plus council tax
- Median price
- £173,000
- terraced house
- Cash needed to buy
- £17,300
- £17,300 deposit + £0 SDLT
- Price-to-rent ratio
- 18.9
- Price divided by a year of rent
Renting vs buying in Chorley by home size
| Bedrooms | Price | Rent / mo | Owning vs renting / mo | After 7 yrs |
|---|---|---|---|---|
| 1 bed | £120,000 | £598 | +£142 | Buy £47,474 |
| 2 bed | £173,000 | £763 | +£294 | Buy £56,855 |
| 3 bed | £215,000 | £904 | +£405 | Buy £65,763 |
| 4+ bed | £354,000 | £1,330 | +£811 | Buy £87,526 |
Average rent and house prices in Chorley
The ONS average private rent in Chorley is £798 a month (Aug 2026, provisional), up 7.1% on a year earlier. The median price paid is £220,000 (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 £2,160 a year (Band C) and is paid whether you rent or buy, so it does not change the verdict.
Renting or buying in Chorley: FAQs
Is it cheaper to rent or buy in Chorley?
For a 2-bed home in Chorley, owning costs about £1,237 a month and renting about £943, both including council tax. Buying leaves you £56,855 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 Chorley?
The ONS average private rent in Chorley is £798 a month across all home sizes (Aug 2026, provisional), with £598 for 1 bed, £763 for 2 bed, £904 for 3 bed, £1,330 for 4 or more bed. Rents rose 7.1% over the past year.
What is the average house price in Chorley?
The median price paid in Chorley is £220,000 (ONS median price paid, year ending Mar 2026). The calculator uses £173,000 for a terraced house, the property type typical for a 2-bed home.
How much is stamp duty on an average home in Chorley?
A first-time buyer paying £173,000 would pay £0 in SDLT. With a 10% deposit of £17,300, the cash needed on day one is about £17,300.
What is the price-to-rent ratio in Chorley?
About 18.9: the 2-bed price is 18.9 times a year of rent. Higher ratios favour renting; lower ratios favour buying.
Which home size is best value to buy in Chorley?
On the default assumptions, a 4+-bed home gives buying its strongest position: buying ahead by £87,526 after 7 years.
Areas with a similar price-to-rent ratio
Browse every local authority.