Rent vs buy calculator · England
Rent vs buy in Lichfield: is it cheaper to rent or buy?
Buying leaves you £73,334 better off after 7 years. Owning a 2-bed terraced house costs about £1,645 a month, against £1,141 to rent the same size home.
- After 7 years
- Buy +£73,334
- Difference in net wealth
- Monthly cost to own
- £1,645
- Mortgage £1,248, of which £377 is capital
- Monthly cost to rent
- £1,141
- Rent £967 plus council tax
- Median price
- £242,000
- terraced house
- Cash needed to buy
- £24,200
- £24,200 deposit + £0 SDLT
- Price-to-rent ratio
- 20.9
- Price divided by a year of rent
Renting vs buying in Lichfield by home size
| Bedrooms | Price | Rent / mo | Owning vs renting / mo | After 7 yrs |
|---|---|---|---|---|
| 1 bed | £167,750 | £741 | +£285 | Buy £58,766 |
| 2 bed | £242,000 | £967 | +£503 | Buy £73,334 |
| 3 bed | £275,750 | £1,158 | +£515 | Buy £91,448 |
| 4+ bed | £475,000 | £1,697 | +£1,169 | Buy £109,945 |
Average rent and house prices in Lichfield
The ONS average private rent in Lichfield is £1,103 a month (Aug 2026, provisional), up 7.5% on a year earlier. The median price paid is £305,000 (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 £2,091 a year (Band C) and is paid whether you rent or buy, so it does not change the verdict.
Renting or buying in Lichfield: FAQs
Is it cheaper to rent or buy in Lichfield?
For a 2-bed home in Lichfield, owning costs about £1,645 a month and renting about £1,141, both including council tax. Buying leaves you £73,334 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 Lichfield?
The ONS average private rent in Lichfield is £1,103 a month across all home sizes (Aug 2026, provisional), with £741 for 1 bed, £967 for 2 bed, £1,158 for 3 bed, £1,697 for 4 or more bed. Rents rose 7.5% over the past year.
What is the average house price in Lichfield?
The median price paid in Lichfield is £305,000 (ONS median price paid, year ending Mar 2026). The calculator uses £242,000 for a terraced house, the property type typical for a 2-bed home.
How much is stamp duty on an average home in Lichfield?
A first-time buyer paying £242,000 would pay £0 in SDLT. With a 10% deposit of £24,200, the cash needed on day one is about £24,200.
What is the price-to-rent ratio in Lichfield?
About 20.9: the 2-bed price is 20.9 times a year of rent. Higher ratios favour renting; lower ratios favour buying.
Which home size is best value to buy in Lichfield?
On the default assumptions, a 4+-bed home gives buying its strongest position: buying ahead by £109,945 after 7 years.
Areas with a similar price-to-rent ratio
Browse every local authority.