Rent vs buy calculator · England
Rent vs buy in Torbay: is it cheaper to rent or buy?
Buying leaves you £24,290 better off after 7 years. Owning a 2-bed terraced house costs about £1,522 a month, against £1,000 to rent the same size home.
- After 7 years
- Buy +£24,290
- Difference in net wealth
- Monthly cost to own
- £1,522
- Mortgage £1,135, of which £343 is capital
- Monthly cost to rent
- £1,000
- Rent £817 plus council tax
- Median price
- £220,000
- terraced house
- Cash needed to buy
- £22,000
- £22,000 deposit + £0 SDLT
- Price-to-rent ratio
- 22.4
- Price divided by a year of rent
Renting vs buying in Torbay by home size
| Bedrooms | Price | Rent / mo | Owning vs renting / mo | After 7 yrs |
|---|---|---|---|---|
| 1 bed | £147,000 | £619 | +£282 | Buy £23,996 |
| 2 bed | £220,000 | £817 | +£522 | Buy £24,290 |
| 3 bed | £269,000 | £997 | +£635 | Buy £30,642 |
| 4+ bed | £388,000 | £1,296 | +£1,049 | Buy £22,817 |
Average rent and house prices in Torbay
The ONS average private rent in Torbay is £920 a month (Aug 2026, provisional), up 4.0% on a year earlier. The median price paid is £241,000 (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 £2,196 a year (Band C) and is paid whether you rent or buy, so it does not change the verdict.
Renting or buying in Torbay: FAQs
Is it cheaper to rent or buy in Torbay?
For a 2-bed home in Torbay, owning costs about £1,522 a month and renting about £1,000, both including council tax. Buying leaves you £24,290 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 Torbay?
The ONS average private rent in Torbay is £920 a month across all home sizes (Aug 2026, provisional), with £619 for 1 bed, £817 for 2 bed, £997 for 3 bed, £1,296 for 4 or more bed. Rents rose 4.0% over the past year.
What is the average house price in Torbay?
The median price paid in Torbay is £241,000 (ONS median price paid, year ending Mar 2026). The calculator uses £220,000 for a terraced house, the property type typical for a 2-bed home.
How much is stamp duty on an average home in Torbay?
A first-time buyer paying £220,000 would pay £0 in SDLT. With a 10% deposit of £22,000, the cash needed on day one is about £22,000.
What is the price-to-rent ratio in Torbay?
About 22.4: the 2-bed price is 22.4 times a year of rent. Higher ratios favour renting; lower ratios favour buying.
Which home size is best value to buy in Torbay?
On the default assumptions, a 3-bed home gives buying its strongest position: buying ahead by £30,642 after 7 years.
Areas with a similar price-to-rent ratio
Browse every local authority.