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
| Bedrooms | Price | Rent / mo | Owning vs renting / mo | After 7 yrs |
|---|---|---|---|---|
| 1 bed | £130,000 | £649 | +£151 | Buy £31,646 |
| 2 bed | £187,500 | £826 | +£318 | Buy £33,502 |
| 3 bed | £230,000 | £994 | +£405 | Buy £39,673 |
| 4+ bed | £345,000 | £1,406 | +£681 | Buy £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.