Rent vs buy calculator · England
Rent vs buy in East: is it cheaper to rent or buy?
Buying leaves you £30,462 better off after 7 years. Owning a 2-bed terraced house costs about £2,025 a month, against £1,322 to rent the same size home.
- After 7 years
- Buy +£30,462
- Difference in net wealth
- Monthly cost to own
- £2,025
- Mortgage £1,573, of which £475 is capital
- Monthly cost to rent
- £1,322
- Rent £1,145 plus council tax
- Median price
- £305,000
- terraced house
- Cash needed to buy
- £30,750
- £30,500 deposit + £250 SDLT
- Price-to-rent ratio
- 22.2
- Price divided by a year of rent
Renting vs buying in East by home size
| Bedrooms | Price | Rent / mo | Owning vs renting / mo | After 7 yrs |
|---|---|---|---|---|
| 1 bed | £210,000 | £894 | +£385 | Buy £32,075 |
| 2 bed | £305,000 | £1,145 | +£703 | Buy £30,462 |
| 3 bed | £345,000 | £1,392 | +£695 | Buy £43,561 |
| 4+ bed | £470,000 | £1,974 | +£862 | Buy £62,063 |
Average rent and house prices in East
The ONS average private rent in East is £1,289 a month (Aug 2026, provisional), up 3.5% on a year earlier. The median price paid is £342,500 (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 £2,128 a year (Band C) and is paid whether you rent or buy, so it does not change the verdict.
Renting or buying in East: FAQs
Is it cheaper to rent or buy in East?
For a 2-bed home in East, owning costs about £2,025 a month and renting about £1,322, both including council tax. Buying leaves you £30,462 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 East?
The ONS average private rent in East is £1,289 a month across all home sizes (Aug 2026, provisional), with £894 for 1 bed, £1,145 for 2 bed, £1,392 for 3 bed, £1,974 for 4 or more bed. Rents rose 3.5% over the past year.
What is the average house price in East?
The median price paid in East is £342,500 (ONS median price paid, year ending Mar 2026). The calculator uses £305,000 for a terraced house, the property type typical for a 2-bed home.
How much is stamp duty on an average home in East?
A first-time buyer paying £305,000 would pay £250 in SDLT. With a 10% deposit of £30,500, the cash needed on day one is about £30,750.
What is the price-to-rent ratio in East?
About 22.2: the 2-bed price is 22.2 times a year of rent. Higher ratios favour renting; lower ratios favour buying.
Which home size is best value to buy in East?
On the default assumptions, a 4+-bed home gives buying its strongest position: buying ahead by £62,063 after 7 years.
Areas with a similar price-to-rent ratio
Browse every local authority.