Rent vs buy calculator · England
Rent vs buy in Mid Devon: is it cheaper to rent or buy?
Renting and buying finish within £2,556 of each other after 7 years: too close to call. Owning a 2-bed terraced house costs about £1,565 a month, against £1,006 to rent the same size home.
- After 7 years
- Close +£2,556
- Difference in net wealth
- Monthly cost to own
- £1,565
- Mortgage £1,160, of which £350 is capital
- Monthly cost to rent
- £1,006
- Rent £809 plus council tax
- Median price
- £225,000
- terraced house
- Cash needed to buy
- £22,500
- £22,500 deposit + £0 SDLT
- Price-to-rent ratio
- 23.2
- Price divided by a year of rent
Renting vs buying in Mid Devon by home size
| Bedrooms | Price | Rent / mo | Owning vs renting / mo | After 7 yrs |
|---|---|---|---|---|
| 1 bed | £129,000 | £641 | +£153 | Buy £17,568 |
| 2 bed | £225,000 | £809 | +£560 | Close £2,556 |
| 3 bed | £265,000 | £995 | +£613 | Close £2,715 |
| 4+ bed | £400,000 | £1,452 | +£965 | Close £6,573 |
Average rent and house prices in Mid Devon
The ONS average private rent in Mid Devon is £878 a month (Aug 2026, provisional), up 1.3% on a year earlier. The median price paid is £280,000 (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 £2,361 a year (Band C) and is paid whether you rent or buy, so it does not change the verdict.
Renting or buying in Mid Devon: FAQs
Is it cheaper to rent or buy in Mid Devon?
For a 2-bed home in Mid Devon, owning costs about £1,565 a month and renting about £1,006, both including council tax. Renting and buying finish within £2,556 of each other after 7 years: too close to call. 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 Mid Devon?
The ONS average private rent in Mid Devon is £878 a month across all home sizes (Aug 2026, provisional), with £641 for 1 bed, £809 for 2 bed, £995 for 3 bed, £1,452 for 4 or more bed. Rents rose 1.3% over the past year.
What is the average house price in Mid Devon?
The median price paid in Mid Devon is £280,000 (ONS median price paid, year ending Mar 2026). The calculator uses £225,000 for a terraced house, the property type typical for a 2-bed home.
How much is stamp duty on an average home in Mid Devon?
A first-time buyer paying £225,000 would pay £0 in SDLT. With a 10% deposit of £22,500, the cash needed on day one is about £22,500.
What is the price-to-rent ratio in Mid Devon?
About 23.2: the 2-bed price is 23.2 times a year of rent. Higher ratios favour renting; lower ratios favour buying.
Which home size is best value to buy in Mid Devon?
On the default assumptions, a 1-bed home gives buying its strongest position: buying ahead by £17,568 after 7 years.
How many years until buying pays off in Mid Devon?
The lead first changes hands in year 10 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.