Rent vs buy calculator · Scotland
Rent vs buy in Midlothian: is it cheaper to rent or buy?
Buying leaves you £50,822 better off after 7 years. Owning a 2-bed terraced house costs about £1,596 a month, against £1,459 to rent the same size home.
- After 7 years
- Buy +£50,822
- Difference in net wealth
- Monthly cost to own
- £1,596
- Mortgage £1,240, of which £374 is capital
- Monthly cost to rent
- £1,459
- Rent £1,324 plus council tax
- Median price
- £240,500
- terraced house
- Cash needed to buy
- £25,360
- £24,050 deposit + £1,310 LBTT
- Price-to-rent ratio
- 15.1
- Price divided by a year of rent
Renting vs buying in Midlothian by home size
| Bedrooms | Price | Rent / mo | Owning vs renting / mo | After 7 yrs |
|---|---|---|---|---|
| 1 bed | £158,971 | £1,035 | −£62 | Buy £52,477 |
| 2 bed | £240,500 | £1,324 | +£138 | Buy £50,822 |
| 3 bed | £301,176 | £1,703 | +£122 | Buy £66,383 |
| 4+ bed | £498,066 | £2,768 | +£236 | Buy £83,314 |
Average rent and house prices in Midlothian
The ONS average private rent in Midlothian is £1,415 a month (Aug 2026, provisional), up 1.6% on a year earlier. The median price paid is £283,166 (UK HPI local authority average, Jul 2026). Rents here are published for the Lothian BRMA Broad Rental Market Area.
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 £1,614 a year (Band C) and is paid whether you rent or buy, so it does not change the verdict.
Renting or buying in Midlothian: FAQs
Is it cheaper to rent or buy in Midlothian?
For a 2-bed home in Midlothian, owning costs about £1,596 a month and renting about £1,459, both including council tax. Buying leaves you £50,822 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 Midlothian?
The ONS average private rent in Midlothian is £1,415 a month across all home sizes (Aug 2026, provisional), with £1,035 for 1 bed, £1,324 for 2 bed, £1,703 for 3 bed, £2,768 for 4 or more bed. Rents rose 1.6% over the past year.
What is the average house price in Midlothian?
The median price paid in Midlothian is £283,166 (UK HPI local authority average, Jul 2026). The calculator uses £240,500 for a terraced house, the property type typical for a 2-bed home.
How much is stamp duty on an average home in Midlothian?
A first-time buyer paying £240,500 would pay £1,310 in LBTT. With a 10% deposit of £24,050, the cash needed on day one is about £25,360.
What is the price-to-rent ratio in Midlothian?
About 15.1: the 2-bed price is 15.1 times a year of rent. Higher ratios favour renting; lower ratios favour buying.
Which home size is best value to buy in Midlothian?
On the default assumptions, a 4+-bed home gives buying its strongest position: buying ahead by £83,314 after 7 years.
How many years until buying pays off in Midlothian?
The lead first changes hands in year 2 on the default settings. Staying longer spreads stamp duty and selling costs over more years.
Areas with a similar price-to-rent ratio
Compare with the Scotland average or browse every local authority.