Rent vs buy calculator · England
Rent vs buy in North Devon: is it cheaper to rent or buy?
Renting leaves you £20,265 better off after 7 years. Owning a 2-bed terraced house costs about £1,564 a month, against £974 to rent the same size home.
- After 7 years
- Rent +£20,265
- Difference in net wealth
- Monthly cost to own
- £1,564
- Mortgage £1,160, of which £350 is capital
- Monthly cost to rent
- £974
- Rent £778 plus council tax
- Median price
- £225,000
- terraced house
- Cash needed to buy
- £22,500
- £22,500 deposit + £0 SDLT
- Price-to-rent ratio
- 24.1
- Price divided by a year of rent
Renting vs buying in North Devon by home size
| Bedrooms | Price | Rent / mo | Owning vs renting / mo | After 7 yrs |
|---|---|---|---|---|
| 1 bed | £162,500 | £589 | +£405 | Rent £12,657 |
| 2 bed | £225,000 | £778 | +£591 | Rent £20,265 |
| 3 bed | £280,000 | £965 | +£733 | Rent £24,276 |
| 4+ bed | £375,000 | £1,331 | +£936 | Rent £32,250 |
Average rent and house prices in North Devon
The ONS average private rent in North Devon is £846 a month (Aug 2026, provisional), up -0.3% on a year earlier. The median price paid is £292,250 (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 £2,349 a year (Band C) and is paid whether you rent or buy, so it does not change the verdict.
Renting or buying in North Devon: FAQs
Is it cheaper to rent or buy in North Devon?
For a 2-bed home in North Devon, owning costs about £1,564 a month and renting about £974, both including council tax. Renting leaves you £20,265 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 North Devon?
The ONS average private rent in North Devon is £846 a month across all home sizes (Aug 2026, provisional), with £589 for 1 bed, £778 for 2 bed, £965 for 3 bed, £1,331 for 4 or more bed. Rents rose -0.3% over the past year.
What is the average house price in North Devon?
The median price paid in North Devon is £292,250 (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 North 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 North Devon?
About 24.1: the 2-bed price is 24.1 times a year of rent. Higher ratios favour renting; lower ratios favour buying.
Which home size is best value to buy in North Devon?
On the default assumptions, a 1-bed home gives buying its strongest position: renting still ahead by £12,657 after 7 years.
Areas with a similar price-to-rent ratio
Browse every local authority.