Rent vs buy calculator · England

Rent vs buy in East Midlands: is it cheaper to rent or buy?

Buying leaves you £33,502 better off after 7 years. Owning a 2-bed terraced house costs about £1,326 a month, against £1,008 to rent the same size home.

After 7 years
Buy +£33,502
Difference in net wealth
Monthly cost to own
£1,326
Mortgage £967, of which £292 is capital
Monthly cost to rent
£1,008
Rent £826 plus council tax
Median price
£187,500
terraced house
Cash needed to buy
£18,750
£18,750 deposit + £0 SDLT
Price-to-rent ratio
18.9
Price divided by a year of rent

Renting vs buying in East Midlands by home size

Rent vs buy in East Midlands by number of bedrooms
BedroomsPriceRent / moOwning vs renting / moAfter 7 yrs
1 bed£130,000£649+£151Buy £31,646
2 bed£187,500£826+£318Buy £33,502
3 bed£230,000£994+£405Buy £39,673
4+ bed£345,000£1,406+£681Buy £48,599

Average rent and house prices in East Midlands

The ONS average private rent in East Midlands is £922 a month (Aug 2026, provisional), up 3.7% on a year earlier. The median price paid is £245,500 (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 £2,187 a year (Band C) and is paid whether you rent or buy, so it does not change the verdict.

Renting or buying in East Midlands: FAQs

Is it cheaper to rent or buy in East Midlands?

For a 2-bed home in East Midlands, owning costs about £1,326 a month and renting about £1,008, both including council tax. Buying leaves you £33,502 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 Midlands?

The ONS average private rent in East Midlands is £922 a month across all home sizes (Aug 2026, provisional), with £649 for 1 bed, £826 for 2 bed, £994 for 3 bed, £1,406 for 4 or more bed. Rents rose 3.7% over the past year.

What is the average house price in East Midlands?

The median price paid in East Midlands is £245,500 (ONS median price paid, year ending Mar 2026). The calculator uses £187,500 for a terraced house, the property type typical for a 2-bed home.

How much is stamp duty on an average home in East Midlands?

A first-time buyer paying £187,500 would pay £0 in SDLT. With a 10% deposit of £18,750, the cash needed on day one is about £18,750.

What is the price-to-rent ratio in East Midlands?

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 East Midlands?

On the default assumptions, a 4+-bed home gives buying its strongest position: buying ahead by £48,599 after 7 years.

Areas with a similar price-to-rent ratio

Browse every local authority.