Rent vs buy calculator · England
Rent vs buy in West Devon: is it cheaper to rent or buy?
Buying leaves you £8,273 better off after 7 years. Owning a 2-bed terraced house costs about £1,620 a month, against £971 to rent the same size home.
- After 7 years
- Buy +£8,273
- Difference in net wealth
- Monthly cost to own
- £1,620
- Mortgage £1,204, of which £364 is capital
- Monthly cost to rent
- £971
- Rent £771 plus council tax
- Median price
- £233,500
- terraced house
- Cash needed to buy
- £23,350
- £23,350 deposit + £0 SDLT
- Price-to-rent ratio
- 25.2
- Price divided by a year of rent
Renting vs buying in West Devon by home size
| Bedrooms | Price | Rent / mo | Owning vs renting / mo | After 7 yrs |
|---|---|---|---|---|
| 1 bed | £150,000 | £603 | +£316 | Buy £16,835 |
| 2 bed | £233,500 | £771 | +£649 | Buy £8,273 |
| 3 bed | £272,690 | £952 | +£702 | Buy £16,626 |
| 4+ bed | £440,000 | £1,351 | +£1,306 | Close £2,515 |
Average rent and house prices in West Devon
The ONS average private rent in West Devon is £846 a month (Aug 2026, provisional), up 3.3% on a year earlier. The median price paid is £300,000 (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 £2,405 a year (Band C) and is paid whether you rent or buy, so it does not change the verdict.
Renting or buying in West Devon: FAQs
Is it cheaper to rent or buy in West Devon?
For a 2-bed home in West Devon, owning costs about £1,620 a month and renting about £971, both including council tax. Buying leaves you £8,273 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 West Devon?
The ONS average private rent in West Devon is £846 a month across all home sizes (Aug 2026, provisional), with £603 for 1 bed, £771 for 2 bed, £952 for 3 bed, £1,351 for 4 or more bed. Rents rose 3.3% over the past year.
What is the average house price in West Devon?
The median price paid in West Devon is £300,000 (ONS median price paid, year ending Mar 2026). The calculator uses £233,500 for a terraced house, the property type typical for a 2-bed home.
How much is stamp duty on an average home in West Devon?
A first-time buyer paying £233,500 would pay £0 in SDLT. With a 10% deposit of £23,350, the cash needed on day one is about £23,350.
What is the price-to-rent ratio in West Devon?
About 25.2: the 2-bed price is 25.2 times a year of rent. Higher ratios favour renting; lower ratios favour buying.
Which home size is best value to buy in West Devon?
On the default assumptions, a 1-bed home gives buying its strongest position: buying ahead by £16,835 after 7 years.
How many years until buying pays off in West Devon?
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
Browse every local authority.