Rent vs buy calculator · Northern Ireland
Rent vs buy in Derry City and Strabane: is it cheaper to rent or buy?
Buying leaves you £9,846 better off after 7 years. Owning a 2-bed all property types costs about £1,156 a month, against £698 to rent the same size home.
- After 7 years
- Buy +£9,846
- Difference in net wealth
- Monthly cost to own
- £1,156
- Mortgage £977, of which £295 is capital
- Monthly cost to rent
- £698
- Rent £698 plus council tax
- Median price
- £189,474
- all property types
- Cash needed to buy
- £18,947
- £18,947 deposit + £0 SDLT
- Price-to-rent ratio
- 22.6
- Price divided by a year of rent
Renting vs buying in Derry City and Strabane by home size
| Bedrooms | Price | Rent / mo | Owning vs renting / mo | After 7 yrs |
|---|---|---|---|---|
| 1 bed | £189,474 | £548 | +£608 | Rent £7,704 |
| 2 bed | £189,474 | £698 | +£458 | Buy £9,846 |
| 3 bed | £189,474 | £795 | +£361 | Buy £21,273 |
| 4+ bed | £189,474 | £1,095 | +£61 | Buy £56,617 |
Average rent and house prices in Derry City and Strabane
The ONS average private rent in Derry City and Strabane is £792 a month (Jun 2026), up 2.8% on a year earlier. The median price paid is £189,474 (UK HPI local authority average, Jul 2026). Rents here are published for the North West Northern Ireland BRMA Broad Rental Market Area.
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 £0 a year (Band C) and is paid whether you rent or buy, so it does not change the verdict.
Renting or buying in Derry City and Strabane: FAQs
Is it cheaper to rent or buy in Derry City and Strabane?
For a 2-bed home in Derry City and Strabane, owning costs about £1,156 a month and renting about £698, both including council tax. Buying leaves you £9,846 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 Derry City and Strabane?
The ONS average private rent in Derry City and Strabane is £792 a month across all home sizes (Jun 2026), with £548 for 1 bed, £698 for 2 bed, £795 for 3 bed, £1,095 for 4 or more bed. Rents rose 2.8% over the past year.
What is the average house price in Derry City and Strabane?
The median price paid in Derry City and Strabane is £189,474 (UK HPI local authority average, Jul 2026). The calculator uses £189,474 for a all property types, the property type typical for a 2-bed home.
How much is stamp duty on an average home in Derry City and Strabane?
A first-time buyer paying £189,474 would pay £0 in SDLT. With a 10% deposit of £18,947, the cash needed on day one is about £18,947.
What is the price-to-rent ratio in Derry City and Strabane?
About 22.6: the 2-bed price is 22.6 times a year of rent. Higher ratios favour renting; lower ratios favour buying.
Which home size is best value to buy in Derry City and Strabane?
On the default assumptions, a 4+-bed home gives buying its strongest position: buying ahead by £56,617 after 7 years.
How many years until buying pays off in Derry City and Strabane?
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
Compare with the Northern Ireland average or browse every local authority.