This rent vs. own calculator helps you to decide whether it makes the most financial sense for you to rent or buy a home. Renting may require a smaller monthly payment, resulting in an opportunity to increase your savings. Purchasing a home and making monthly mortgage payments increases the equity you have in your home, thus increasing your net worth. Renting does not create net worth. The economic climate correlates to the housing market. Be aware if it is a "buyer's market" or a "seller's market."