Rent vs buy calculator · England
Rent vs buy in Wigan: is it cheaper to rent or buy?
Buying leaves you £51,384 better off after 7 years. Owning a 2-bed terraced house costs about £1,061 a month, against £859 to rent the same size home.
- After 7 years
- Buy +£51,384
- Difference in net wealth
- Monthly cost to own
- £1,061
- Mortgage £758, of which £229 is capital
- Monthly cost to rent
- £859
- Rent £700 plus council tax
- Median price
- £147,000
- terraced house
- Cash needed to buy
- £14,700
- £14,700 deposit + £0 SDLT
- Price-to-rent ratio
- 17.5
- Price divided by a year of rent
Renting vs buying in Wigan by home size
| Bedrooms | Price | Rent / mo | Owning vs renting / mo | After 7 yrs |
|---|---|---|---|---|
| 1 bed | £110,000 | £542 | +£138 | Buy £40,148 |
| 2 bed | £147,000 | £700 | +£201 | Buy £51,384 |
| 3 bed | £210,000 | £838 | +£441 | Buy £54,090 |
| 4+ bed | £327,500 | £1,143 | +£840 | Buy £64,670 |
Average rent and house prices in Wigan
The ONS average private rent in Wigan is £746 a month (Aug 2026, provisional), up 6.6% on a year earlier. The median price paid is £198,250 (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 £1,913 a year (Band C) and is paid whether you rent or buy, so it does not change the verdict.
Renting or buying in Wigan: FAQs
Is it cheaper to rent or buy in Wigan?
For a 2-bed home in Wigan, owning costs about £1,061 a month and renting about £859, both including council tax. Buying leaves you £51,384 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 Wigan?
The ONS average private rent in Wigan is £746 a month across all home sizes (Aug 2026, provisional), with £542 for 1 bed, £700 for 2 bed, £838 for 3 bed, £1,143 for 4 or more bed. Rents rose 6.6% over the past year.
What is the average house price in Wigan?
The median price paid in Wigan is £198,250 (ONS median price paid, year ending Mar 2026). The calculator uses £147,000 for a terraced house, the property type typical for a 2-bed home.
How much is stamp duty on an average home in Wigan?
A first-time buyer paying £147,000 would pay £0 in SDLT. With a 10% deposit of £14,700, the cash needed on day one is about £14,700.
What is the price-to-rent ratio in Wigan?
About 17.5: the 2-bed price is 17.5 times a year of rent. Higher ratios favour renting; lower ratios favour buying.
Which home size is best value to buy in Wigan?
On the default assumptions, a 4+-bed home gives buying its strongest position: buying ahead by £64,670 after 7 years.
Areas with a similar price-to-rent ratio
Browse every local authority.