Rent vs buy calculator · England
Rent vs buy in Erewash: is it cheaper to rent or buy?
Buying leaves you £26,821 better off after 7 years. Owning a 2-bed terraced house costs about £1,184 a month, against £964 to rent the same size home.
- After 7 years
- Buy +£26,821
- Difference in net wealth
- Monthly cost to own
- £1,184
- Mortgage £851, of which £257 is capital
- Monthly cost to rent
- £964
- Rent £789 plus council tax
- Median price
- £165,000
- terraced house
- Cash needed to buy
- £16,500
- £16,500 deposit + £0 SDLT
- Price-to-rent ratio
- 17.4
- Price divided by a year of rent
Renting vs buying in Erewash by home size
| Bedrooms | Price | Rent / mo | Owning vs renting / mo | After 7 yrs |
|---|---|---|---|---|
| 1 bed | £120,000 | £601 | +£139 | Buy £22,031 |
| 2 bed | £165,000 | £789 | +£220 | Buy £26,821 |
| 3 bed | £215,000 | £949 | +£360 | Buy £26,528 |
| 4+ bed | £320,000 | £1,311 | +£627 | Buy £28,786 |
Average rent and house prices in Erewash
The ONS average private rent in Erewash is £834 a month (Aug 2026, provisional), up 2.4% on a year earlier. The median price paid is £217,500 (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 £2,098 a year (Band C) and is paid whether you rent or buy, so it does not change the verdict.
Renting or buying in Erewash: FAQs
Is it cheaper to rent or buy in Erewash?
For a 2-bed home in Erewash, owning costs about £1,184 a month and renting about £964, both including council tax. Buying leaves you £26,821 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 Erewash?
The ONS average private rent in Erewash is £834 a month across all home sizes (Aug 2026, provisional), with £601 for 1 bed, £789 for 2 bed, £949 for 3 bed, £1,311 for 4 or more bed. Rents rose 2.4% over the past year.
What is the average house price in Erewash?
The median price paid in Erewash is £217,500 (ONS median price paid, year ending Mar 2026). The calculator uses £165,000 for a terraced house, the property type typical for a 2-bed home.
How much is stamp duty on an average home in Erewash?
A first-time buyer paying £165,000 would pay £0 in SDLT. With a 10% deposit of £16,500, the cash needed on day one is about £16,500.
What is the price-to-rent ratio in Erewash?
About 17.4: the 2-bed price is 17.4 times a year of rent. Higher ratios favour renting; lower ratios favour buying.
Which home size is best value to buy in Erewash?
On the default assumptions, a 4+-bed home gives buying its strongest position: buying ahead by £28,786 after 7 years.
Areas with a similar price-to-rent ratio
Browse every local authority.