House Hacking Calculator
Calculate your net housing cost when renting out units in an owner-occupied multi-family. Compare to traditional renting to see monthly and annual savings.
Financial Disclaimer
This calculator is for educational purposes only and does not constitute financial advice. Results are estimates based on the inputs provided. Consult a qualified financial advisor before making investment or financial planning decisions.
Inputs
Results
Your Net Housing Cost
$150.67
≈ 10 movie tickets
How to Use This Calculator
- Enter Purchase Price and Down Payment % — FHA loans allow 3.5% down for multi-family up to 4 units.
- Set Interest Rate, Loan Term, Total Units, and Units You Rent Out.
- Enter Rent per Unit and Vacancy Rate % to calculate effective rental income.
- Add Monthly Taxes, Insurance, and Maintenance to capture your total housing expenses.
- Enter your current/alternative rent to see Monthly Savings vs. Renting and net housing cost.
- A negative Net Monthly Cost means tenants are paying your housing expenses plus giving you profit.
How the result changes with Units You Rent Out
| Units You Rent Out | Your Net Housing Cost |
|---|---|
| 1 | $2,050.67 |
| 3.5 | -$324.33 |
| 6.5 | -$799.33 |
| 9 | -$799.33 |
What each input means
- Purchase Price ($)
- Multi-family property purchase price.
- Down Payment (%)
- FHA allows 3.5%, conventional 5-20%.
- Interest Rate (%)
- Annual mortgage rate.
- Loan Term (years)
- Mortgage term.
- Total Units
- Total number of units in the building.
- Units You Rent Out
- Number of units rented to tenants.
- Rent per Unit ($)
- Average monthly rent per rented unit.
- Vacancy Rate (%)
- Expected vacancy across rented units.
- Monthly Taxes ($)
- Monthly property taxes.
- Monthly Insurance ($)
- Monthly landlord insurance.
- Monthly Maintenance ($)
- Maintenance and repair reserves.
- Landlord-Paid Utilities ($)
- Utilities you pay for tenants (if any).
- Current/Alternative Rent ($)
- What you'd pay to rent if not house hacking.
What each result means
- Your Net Housing Cost
- Total cost minus rental income. Negative = you profit.
- Monthly Savings vs Renting
- How much less you pay vs your rental alternative.
- Annual Savings vs Renting
- Yearly savings compared to renting.
- Cost Offset by Tenants
- Percentage of housing cost covered by rental income.
- Monthly Rental Income
- Effective rental income after vacancy.
- Total Monthly Cost
- Mortgage, PMI, taxes, insurance, maintenance, utilities.
- Monthly Mortgage (P&I)
- Principal and interest payment.
- Monthly PMI
- Private mortgage insurance (if < 20% down).
- Cost per Owner Unit
- Net cost divided by units you occupy.
- Required Down Payment
- Cash needed for down payment.
How this is calculated
Worked example, using the default values
- Identify Input Parameters4 parametersPurchase Price ($) = 350000, Down Payment (%) = 5, Interest Rate (%) = 7, Loan Term (years) = 30 = 13 input(s) provided
- Calculate Your Net Housing CostYour Net Housing Cost = totalMonthlyCost - effectiveMonthlyRent150.67 = $150.67
- Calculate Monthly Savings vs RentingMonthly Savings vs Renting = currentRentAlternative - netMonthlyCost1049.33 = $1,049.33
- Calculate Annual Savings vs RentingAnnual Savings vs Renting = monthlySavings * 1212591.93 = $12,591.93
Engine last updated . Checked against 1 independently-derived test — how we verify calculators.
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