Rent vs buy calculator · England
Rent vs buy in Medway: is it cheaper to rent or buy?
Buying leaves you £16,715 better off after 7 years. Owning a 2-bed terraced house costs about £1,871 a month, against £1,310 to rent the same size home.
- After 7 years
- Buy +£16,715
- Difference in net wealth
- Monthly cost to own
- £1,871
- Mortgage £1,444, of which £436 is capital
- Monthly cost to rent
- £1,310
- Rent £1,137 plus council tax
- Median price
- £280,000
- terraced house
- Cash needed to buy
- £28,000
- £28,000 deposit + £0 SDLT
- Price-to-rent ratio
- 20.5
- Price divided by a year of rent
Renting vs buying in Medway by home size
| Bedrooms | Price | Rent / mo | Owning vs renting / mo | After 7 yrs |
|---|---|---|---|---|
| 1 bed | £174,500 | £896 | +£170 | Buy £30,447 |
| 2 bed | £280,000 | £1,137 | +£561 | Buy £16,715 |
| 3 bed | £350,000 | £1,336 | +£781 | Buy £8,630 |
| 4+ bed | £487,500 | £1,823 | +£1,118 | Close £696 |
Average rent and house prices in Medway
The ONS average private rent in Medway is £1,232 a month (Aug 2026, provisional), up 1.7% on a year earlier. The median price paid is £313,000 (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 £2,070 a year (Band C) and is paid whether you rent or buy, so it does not change the verdict.
Renting or buying in Medway: FAQs
Is it cheaper to rent or buy in Medway?
For a 2-bed home in Medway, owning costs about £1,871 a month and renting about £1,310, both including council tax. Buying leaves you £16,715 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 Medway?
The ONS average private rent in Medway is £1,232 a month across all home sizes (Aug 2026, provisional), with £896 for 1 bed, £1,137 for 2 bed, £1,336 for 3 bed, £1,823 for 4 or more bed. Rents rose 1.7% over the past year.
What is the average house price in Medway?
The median price paid in Medway is £313,000 (ONS median price paid, year ending Mar 2026). The calculator uses £280,000 for a terraced house, the property type typical for a 2-bed home.
How much is stamp duty on an average home in Medway?
A first-time buyer paying £280,000 would pay £0 in SDLT. With a 10% deposit of £28,000, the cash needed on day one is about £28,000.
What is the price-to-rent ratio in Medway?
About 20.5: the 2-bed price is 20.5 times a year of rent. Higher ratios favour renting; lower ratios favour buying.
Which home size is best value to buy in Medway?
On the default assumptions, a 1-bed home gives buying its strongest position: buying ahead by £30,447 after 7 years.
How many years until buying pays off in Medway?
The lead first changes hands in year 3 on the default settings. Staying longer spreads stamp duty and selling costs over more years.
Areas with a similar price-to-rent ratio
Browse every local authority.