Rent vs buy calculator · England
Rent vs buy in Havering: is it cheaper to rent or buy?
Renting leaves you £10,238 better off after 7 years. Owning a 2-bed terraced house costs about £2,806 a month, against £1,722 to rent the same size home.
- After 7 years
- Rent +£10,238
- Difference in net wealth
- Monthly cost to own
- £2,806
- Mortgage £2,243, of which £677 is capital
- Monthly cost to rent
- £1,722
- Rent £1,542 plus council tax
- Median price
- £435,000
- terraced house
- Cash needed to buy
- £50,250
- £43,500 deposit + £6,750 SDLT
- Price-to-rent ratio
- 23.5
- Price divided by a year of rent
Renting vs buying in Havering by home size
| Bedrooms | Price | Rent / mo | Owning vs renting / mo | After 7 yrs |
|---|---|---|---|---|
| 1 bed | £263,000 | £1,217 | +£379 | Buy £30,406 |
| 2 bed | £435,000 | £1,542 | +£1,085 | Rent £10,238 |
| 3 bed | £512,500 | £1,847 | +£1,244 | Rent £19,494 |
| 4+ bed | £710,000 | £2,496 | +£1,778 | Rent £37,920 |
Average rent and house prices in Havering
The ONS average private rent in Havering is £1,565 a month (Aug 2026, provisional), up 1.5% on a year earlier. The median price paid is £450,000 (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 £2,155 a year (Band C) and is paid whether you rent or buy, so it does not change the verdict.
Renting or buying in Havering: FAQs
Is it cheaper to rent or buy in Havering?
For a 2-bed home in Havering, owning costs about £2,806 a month and renting about £1,722, both including council tax. Renting leaves you £10,238 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 Havering?
The ONS average private rent in Havering is £1,565 a month across all home sizes (Aug 2026, provisional), with £1,217 for 1 bed, £1,542 for 2 bed, £1,847 for 3 bed, £2,496 for 4 or more bed. Rents rose 1.5% over the past year.
What is the average house price in Havering?
The median price paid in Havering is £450,000 (ONS median price paid, year ending Mar 2026). The calculator uses £435,000 for a terraced house, the property type typical for a 2-bed home.
How much is stamp duty on an average home in Havering?
A first-time buyer paying £435,000 would pay £6,750 in SDLT. With a 10% deposit of £43,500, the cash needed on day one is about £50,250.
What is the price-to-rent ratio in Havering?
About 23.5: the 2-bed price is 23.5 times a year of rent. Higher ratios favour renting; lower ratios favour buying.
Which home size is best value to buy in Havering?
On the default assumptions, a 1-bed home gives buying its strongest position: buying ahead by £30,406 after 7 years.
Areas with a similar price-to-rent ratio
Browse every local authority.