Condo vs House Calculator

Compare the true monthly cost of a condo (with HOA) vs a house (with maintenance). See equity, appreciation gaps, and total wealth over 10, 20, and 30 years.

Condo
$
$
%
$/mo
House
$
$
%
% /yr
Monthly Cost Comparison
CONDO
$2,110/mo
Mortgage + HOA
HOUSE
$2,704/mo
Mortgage + Maintenance
Condo saves you $594/month — $7,127/year
Condo Mortgage Only
$1,660/mo
House Mortgage Only
$2,179/mo
10-Year Condo Cost
$253,249
10-Year House Cost
$324,515
Est. Condo Equity (Yr 10)
$299,957
Est. House Equity (Yr 10)
$450,952

HOA fees typically rise 3-5% per year. A $450/month HOA today can cost dramatically more over a 30-year ownership period.

%
Year 5 HOA (monthly)
$547
Total HOA paid: $29,781
Year 10 HOA (monthly)
$666
Total HOA paid: $66,013
Year 20 HOA (monthly)
$986
Total HOA paid: $163,729
Year 30 HOA (monthly)
$1,460
Total HOA paid: $308,372
Warning: At 4.0% annual HOA growth, your current $450/mo fee will be $986/mo in 20 years — and total HOA paid over 30 years would be $308,372.

True monthly cost includes property taxes, insurance, and utilities — which differ significantly between condo and house.

CONDO INPUTS
$
$
$
HOUSE INPUTS
$
$
$
Condo — Full Monthly Cost
Mortgage: $1,660
HOA: $450
Taxes: $267
Insurance: $50
Utilities: $120
$2,547/mo total
House — Full Monthly Cost
Mortgage: $2,179
Maintenance: $525
Taxes: $350
Insurance: $117
Utilities: $250
$3,421/mo total
Full lifestyle difference: $874/month — Condo is cheaper overall — $104,865 over 10 years

How to Use This Condo vs House Calculator

Enter the purchase price, down payment, interest rate, and HOA fee for the condo you're considering, then the price, down payment, rate, and expected maintenance budget for the house. The Quick Calculator shows the all-in monthly cost comparison and estimated equity at year 10. Unlock the Advanced tier to see HOA growth projections and the appreciation gap between the two property types. The Pro tier adds full lifestyle cost (taxes, insurance, utilities) and a complete investment wealth analysis.

The Real Cost Difference: HOA vs Maintenance

The most misunderstood part of the condo vs house comparison is how maintenance costs stack up. A condo's HOA fee looks expensive until you realize what it replaces:

Condo True Cost = Mortgage + HOA + Property Tax + Condo Insurance + Utilities
House True Cost = Mortgage + Maintenance (1-2%/yr) + Property Tax + Homeowners Insurance + Utilities
HOA typically covers: roof, exterior, hallways, landscaping, building insurance, amenities

A house priced higher than a comparable condo may actually cost less per month in some markets — because the price premium is offset by a lower interest-to-value ratio. Run the numbers with your actual figures before deciding.

Example: Condo vs House in Denver

Sarah's Decision: $320K Condo vs $420K House

Condo Price$320,000
Condo Mortgage (20% down, 6.75%)$1,659/mo
HOA Fee$450/mo
Condo Total$2,109/mo
House Price$420,000
House Mortgage (20% down, 6.75%)$2,180/mo
Maintenance Reserve (1.5%/yr)$525/mo
House Total$2,705/mo
Monthly DifferenceHouse costs $596/mo more
10-Year House Equity Advantage~$65,000 more (higher appreciation on larger asset)

Sarah chose the condo for the lower monthly cost, using the $596/month savings to invest in index funds — effectively getting market appreciation on top of condo appreciation. After 10 years she planned to trade up to a house.

Frequently Asked Questions

Condos can be a solid investment, especially in dense urban markets, but they typically appreciate at 3-3.5% annually vs 4-4.5% for houses. The key difference is the buyer pool — houses attract families and investors, creating broader demand. Condos also carry HOA financial risk: an underfunded HOA or upcoming special assessment can hurt resale value. For long holds (20+ years), the appreciation gap between a house and condo in the same market can reach $100,000-$300,000+.
HOA fees historically increase 3-5% per year. A $400/month HOA today becomes $650-$800/month in 15 years at that rate. HOAs must fund reserves for major building systems — roofs, elevators, parking structures — and when reserves are underfunded (common), they issue special assessments or dramatically raise fees. Always request the HOA's reserve study and current reserve funding percentage before buying. Below 70% funded is a red flag.
Budget 1-2% of your home's value per year for maintenance and repairs. On a $400,000 house, that's $4,000-$8,000 annually ($333-$667/month). Older homes (25+ years), homes in extreme climates, or those with aging systems (roof, HVAC, plumbing) should budget toward the higher end. Key cost centers: roof replacement ($15,000-$25,000 every 20-30 years), HVAC ($8,000-$15,000 every 15-20 years), water heater ($1,500-$3,500 every 10-15 years).
Houses generally appreciate faster than condos in most US markets — typically 0.5-1% per year more on average. This is because house values include land (which is scarce and appreciates), while condos share land value across many units. In certain urban markets (Manhattan, San Francisco), condos can match or exceed house appreciation. But nationally, the wealth gap between a house and a similar-priced condo over 20-30 years is significant.
Beyond the visible HOA fee, condo costs include: special assessments (surprise bills for major repairs — can be $5,000-$50,000), move-in/move-out fees ($200-$500), amenity fees, parking fees if not included, storage rental, and higher closing costs in some jurisdictions. Also factor in that FHA and VA loans have stricter condo approval requirements — if the building isn't approved, your buyer pool is limited to conventional loans, reducing demand at resale.

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