Rent vs buy calculator · England
Rent vs buy in South Hams: is it cheaper to rent or buy?
Buying leaves you £7,122 better off after 7 years. Owning a 2-bed terraced house costs about £1,922 a month, against £1,115 to rent the same size home.
- After 7 years
- Buy +£7,122
- Difference in net wealth
- Monthly cost to own
- £1,922
- Mortgage £1,470, of which £444 is capital
- Monthly cost to rent
- £1,115
- Rent £921 plus council tax
- Median price
- £285,000
- terraced house
- Cash needed to buy
- £28,500
- £28,500 deposit + £0 SDLT
- Price-to-rent ratio
- 25.8
- Price divided by a year of rent
Renting vs buying in South Hams by home size
| Bedrooms | Price | Rent / mo | Owning vs renting / mo | After 7 yrs |
|---|---|---|---|---|
| 1 bed | £260,000 | £737 | +£841 | Rent £6,087 |
| 2 bed | £285,000 | £921 | +£807 | Buy £7,122 |
| 3 bed | £310,000 | £1,139 | +£739 | Buy £23,555 |
| 4+ bed | £515,000 | £1,631 | +£1,475 | Rent £11,033 |
Average rent and house prices in South Hams
The ONS average private rent in South Hams is £1,012 a month (Aug 2026, provisional), up 3.2% on a year earlier. The median price paid is £360,000 (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 £2,325 a year (Band C) and is paid whether you rent or buy, so it does not change the verdict.
Renting or buying in South Hams: FAQs
Is it cheaper to rent or buy in South Hams?
For a 2-bed home in South Hams, owning costs about £1,922 a month and renting about £1,115, both including council tax. Buying leaves you £7,122 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 South Hams?
The ONS average private rent in South Hams is £1,012 a month across all home sizes (Aug 2026, provisional), with £737 for 1 bed, £921 for 2 bed, £1,139 for 3 bed, £1,631 for 4 or more bed. Rents rose 3.2% over the past year.
What is the average house price in South Hams?
The median price paid in South Hams is £360,000 (ONS median price paid, year ending Mar 2026). The calculator uses £285,000 for a terraced house, the property type typical for a 2-bed home.
How much is stamp duty on an average home in South Hams?
A first-time buyer paying £285,000 would pay £0 in SDLT. With a 10% deposit of £28,500, the cash needed on day one is about £28,500.
What is the price-to-rent ratio in South Hams?
About 25.8: the 2-bed price is 25.8 times a year of rent. Higher ratios favour renting; lower ratios favour buying.
Which home size is best value to buy in South Hams?
On the default assumptions, a 3-bed home gives buying its strongest position: buying ahead by £23,555 after 7 years.
How many years until buying pays off in South Hams?
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.