10/24/2026
Rent is 100% interest. Here's the total nobody shows you π§Ύ
At $1,200/month in rent:
5 yrs β $72,000 Β· 10 yrs β $144,000 Β· 15 yrs β $216,000 Β· 20 yrs β $288,000 Β· 30 yrs β $432,000
Equity built: $0. Every dollar went to the landlord.
At $1,500/month: $180,000 in 10 years, $540,000 in 30. Equity built: still $0.
Now flip it. A $175,000 Detroit home (30-yr fixed ~7.4%) costs about $1,212/month in principal + interest β the same check as that rent. After 10 years you've paid down $23,445 of the loan. 10-year totals: $145,400 owning vs $144,000 renting. One leaves you $0. The other leaves you a house.
(P&I only β taxes/insurance extra when you own; rent folds them in too.)
The 25 questions that turn renters into owners are in my Detroit Buyer Question Bank β $17 on Gumroad: https://arietherealtor.gumroad.com/l/detroit-buyer-question-bank
Or comment GUIDE and I'll DM you the link π
Work with Lee if you want that key!
πΈ Photos: Wikimedia Commons β credits in first comment