★ COMPARISONS · HOME BUYING · CONDO VS HOUSE
The condo wins by $105.65 a month — $2,169.79 against the house's $2,275.44 — but the house builds $32,179.10 more equity in 10 years. Compare a condo with HOA dues against a house on the same loan terms: the monthly payments, the 10-year cost gap, the equity each builds, and what flips the verdict. This one is the CONDO-VS-HOUSE comparison — price plus HOA against price, with equity and appreciation — the apartment-vs-condo page is the APARTMENT-VS-CONDO comparison — renting an apartment against buying a condo — not condo against house; the rent-vs-buy-house page is the RENT-VS-BUY comparison — renting against buying a house — not two kinds of ownership; and the apartment-vs-house page is the APARTMENT-VS-HOUSE comparison — renting an apartment against buying a house — not a condo. No condo-vs-house page exists on this site — this one is the first.
A $350,000 condo with $400 a month of HOA dues against a $450,000 house, on the same loan. The condo wins by $105.65 a month — but the house builds $32,179.10 more equity in 10 years. Put your own prices in: the verdict follows the gap, not the labels.
It means that, on the defaults, the condo costs $105.65 a month less than the house: $2,169.79 a month against $2,275.44. The condo loan is $280,000 — 80% of $350,000 — and its P&I at 6.5% over 30 years is $1,769.79 a month; add the $400 HOA and the condo costs $2,169.79 a month. The house loan is $360,000 — 80% of $450,000 — and its P&I is $2,275.44 a month, with no HOA. Over 10 years the monthly gap adds up to $12,678.53. But the monthly cost is only half the comparison: the house also builds more equity, because a bigger loan pays down more principal. After 10 years the condo balance is $237,373.15, so the condo equity is $350,000 − $237,373.15, which is $112,626.85; the house balance is $305,194.05, so the house equity is $450,000 − $305,194.05, which is $144,805.95. The house builds $32,179.10 more equity — and with 3% a year of appreciation the values reach $470,370.73 and $604,762.37, and the equity lead with appreciation grows to $66,570.74.
The monthly winner and the equity winner are different homes. The condo wins the month by $105.65, and the house wins the decade on equity by $32,179.10. A buyer who only looks at the monthly payment picks the condo; a buyer who only looks at equity picks the house. The right question is which one matters more to you — the $105.65 a month you keep now, or the $32,179.10 of equity you hold in 10 years.
The HOA is the whole decision. At $400 a month the condo wins by $105.65. At $506 a month the condo stops winning — at $505 it still wins by $0.65, and at $506 the house wins by $0.35. At $600 the house wins by $94.35 a month. HOA dues also rise over time and can jump with a special assessment, which this calculator does not model — ask for the association's budget and its history of increases before you trust any HOA number.
The defaults exaggerate the price gap. The defaults put the condo $100,000 below the house, but the real September 2026 medians from the National Association of Realtors are $363,700 for a condo and $422,700 for a single-family home — a gap of $59,000, not $100,000. At those medians the house P&I is $2,137.40 a month, below the condo's P&I plus $400 HOA of $2,239.07, so the house wins by $101.66 a month. Put your own local prices in: the verdict follows the gap, not the labels.
On the defaults: condo $350,000 plus $400 a month HOA against a $450,000 house; 20% down, 6.5% over 30 years, 3% appreciation, 10-year horizon.
And the other way: a $600 HOA makes the condo cost $2,369.79 a month, so the house wins by $94.35 a month. And at the real September 2026 medians — condo $363,700, house $422,700 — the house wins by $101.66 a month.
The defaults are a $350,000 condo with $400 a month of HOA dues against a $450,000 house, both with 20% down, a 6.5% fixed rate over 30 years, 3% a year of appreciation and a 10-year horizon — chosen because the round prices make the arithmetic clean and the verdict interesting: the condo wins the month and the house wins the equity. They are a starting point, not a quote: the model counts principal, interest and HOA only. Property tax, homeowners insurance, maintenance, and the condo's special assessments are not in it — a house usually costs more to maintain and insure, and a condo association can levy a special assessment of thousands of dollars for a roof or an elevator, which no monthly figure captures. The HOA is assumed flat; in reality it rises, and a building with a thin reserve fund is the one that levies assessments. Appreciation is an assumption, not a promise: at 0% the equity is just the principal paid down, and at −2% a year both homes lose value.
These notes repeat in every explainer section because this page is built to be read start to finish: the monthly winner and the equity winner are different homes; the HOA is the whole decision; and the defaults exaggerate the price gap.
| Output | Formula | What it means |
|---|---|---|
| Condo P&I | condo loan × amort. factor | $1,769.79. |
| Condo/month | P&I + HOA | $2,169.79. |
| House P&I | house loan × amort. factor | $2,275.44. |
| Winner | lower monthly cost | Condo. |
| Monthly gap | difference | $105.65. |
| 10-year gap | monthly gap × 120 | $12,678.53. |
| Condo equity (10 yr) | price − balance | $112,626.85. |
| House equity (10 yr) | price − balance | $144,805.95. |
| Equity gap | house equity − condo equity | $32,179.10. |
| Condo value (3%/yr) | price × 1.03^10 | $470,370.73. |
| House value (3%/yr) | price × 1.03^10 | $604,762.37. |
| Verdict | in words | The condo wins by $105.65 a month. |
| Reverse: HOA at which the condo stops winning per month | step | 506: Condo $2,275.79/mo (P&I $1,769.79 + HOA $506.00), house $2,275.44/mo: House wins by $0.35/mo; equity after 10 years: condo $112,626.85 vs house $144,805.95 (house leads by $32,179.10). |
| Reverse: Smallest house price at which the house costs more per month | step | 430000: Condo $2,169.79/mo (P&I $1,769.79 + HOA $400.00), house $2,174.31/mo: Condo wins by $4.52/mo; equity after 10 years: condo $112,626.85 vs house $138,370.13 (house leads by $25,743.28). |
| Reverse: Smallest condo price at which the condo stops winning per month | step | 371000: Condo $2,275.98/mo (P&I $1,875.98 + HOA $400.00), house $2,275.44/mo: House wins by $0.53/mo; equity after 10 years: condo $119,384.46 vs house $144,805.95 (house leads by $25,421.49). |
| Reverse: Smallest horizon in years for the house equity lead to reach $25,000 | step | 5: Condo $2,169.79/mo (P&I $1,769.79 + HOA $400.00), house $2,275.44/mo: Condo wins by $105.65/mo; equity after 5 years: condo $87,889.26 vs house $113,000.48 (house leads by $25,111.22). |
| HOA $600/mo (house wins) | same model | Condo $2,369.79/mo (P&I $1,769.79 + HOA $600.00), house $2,275.44/mo: House wins by $94.35/mo. |
| No HOA | same model | Condo $1,769.79/mo (P&I $1,769.79 + HOA $0.00), house $2,275.44/mo: Condo wins by $505.65/mo. |
| 5-year horizon | same model | Condo $2,169.79/mo (P&I $1,769.79 + HOA $400.00), house $2,275.44/mo: Condo wins by $105.65/mo. |
| House $400,000 | same model | Condo $2,169.79/mo (P&I $1,769.79 + HOA $400.00), house $2,022.62/mo: House wins by $147.17/mo. |
| Condo $400,000 | same model | Condo $2,422.62/mo (P&I $2,022.62 + HOA $400.00), house $2,275.44/mo: House wins by $147.17/mo. |
| Rate 5.00% | same model | Condo $1,903.10/mo (P&I $1,503.10 + HOA $400.00), house $1,932.56/mo: Condo wins by $29.46/mo. |
| No appreciation | same model | Condo $2,169.79/mo (P&I $1,769.79 + HOA $400.00), house $2,275.44/mo: Condo wins by $105.65/mo. |
| Real medians: condo $363,700 vs house $422,700 | same model | Condo $2,239.07/mo (P&I $1,839.07 + HOA $400.00), house $2,137.40/mo: House wins by $101.66/mo. |
| Appreciation 5%/yr | same model | Condo $2,169.79/mo (P&I $1,769.79 + HOA $400.00), house $2,275.44/mo: Condo wins by $105.65/mo. |
| 30-year horizon | same model | Condo $2,169.79/mo (P&I $1,769.79 + HOA $400.00), house $2,275.44/mo: Condo wins by $105.65/mo. |
| HOA −$50/mo | same model | HOA dues — $0 or above.. |
| Condo price $0 | same model | Prices — more than $0.. |
| Rate 0% | same model | Condo $1,177.78/mo (P&I $777.78 + HOA $400.00), house $1,000.00/mo: House wins by $177.78/mo. |
| Horizon 0 years | same model | Horizon — more than 0 years.. |
| Down payment 100% | same model | Down payment — 0% or more, and less than 100%.. |
| Appreciation −2%/yr | same model | Condo $2,169.79/mo (P&I $1,769.79 + HOA $400.00), house $2,275.44/mo: Condo wins by $105.65/mo. |
| House $350,000 = condo price | same model | Condo $2,169.79/mo (P&I $1,769.79 + HOA $400.00), house $1,769.79/mo: House wins by $400.00/mo. |
Figures are the model's own totals on the numbers you type, computed to the cent from unrounded values: the P&I figures come from the amortization factor, the equity is the home's value minus the remaining balance, and the 10-year gap is the exact monthly gap times 120 months — the displayed $105.65 a month is rounded, so $105.65 × 120 is $12,678.00 on paper and the exact figure is $12,678.53. The real-world anchor is the National Association of Realtors' September 2026 Existing-Home Sales report (nar.realtor/newsroom/existing-home-sales-increased-1-5-in-september-according-to-nar-report), reported October 13, 2026: the median single-family home price was $422,700 and the median condo/co-op price was $363,700, both up 1.2% from a year earlier, with an overall median of $417,500. The model leaves out property tax, homeowners insurance, maintenance, HOA increases and special assessments, and the value of a yard, a garage and no shared walls — a house usually costs more to maintain and insure, and a condo's special assessment can run to thousands of dollars. Appreciation is an assumption: at 0% the equity is just the principal paid down, and the model does not predict prices.
The condo wins by $105.65 a month — condo $2,169.79 a month (P&I $1,769.79 plus $400.00 HOA) against house $2,275.44 a month. Over 10 years that is $12,678.53. Equity at 10 years: condo $112,626.85 vs house $144,805.95 — the house builds $32,179.10 more. At 3% a year the values reach $470,370.73 and $604,762.37. With a $600 HOA the house wins by $94.35 a month. September 2026 NAR medians: single-family $422,700, condo/co-op $363,700 — at those medians the house wins by $101.66 a month. HOA at which the condo stops winning per month: 506. Smallest house price at which the house costs more per month: 430000. Smallest condo price at which the condo stops winning per month: 371000. Smallest horizon in years for the house equity lead to reach $25,000: 5. Source: Bright Side Kit, brightoolbox.com.
On the defaults, yes by $105.65 a month — the condo costs $2,169.79 a month (P&I $1,769.79 plus $400 HOA) against the house's $2,275.44. But the house builds $32,179.10 more equity in 10 years, so cheaper monthly is not cheaper overall.
$506 a month — at $505 the condo still wins by $0.65 a month, and at $506 the house wins by $0.35. At $600 the house wins by $94.35 a month.
Yes on the defaults — after 10 years the condo holds $112,626.85 of equity and the house holds $144,805.95, a lead of $32,179.10. The house builds more because the bigger loan pays down more principal, and the lead grows with appreciation.
The September 2026 NAR medians are $363,700 for a condo and $422,700 for a single-family home — a gap of $59,000. At those medians the house P&I is $2,137.40 a month, below the condo's $2,239.07 with HOA, so the house wins by $101.66 a month.
At 3% a year the values reach $470,370.73 for the condo and $604,762.37 for the house in 10 years, and the equity lead with appreciation grows to $66,570.74. At 5% a year the values reach $570,113.12 and $733,002.58.
Property tax, homeowners insurance, maintenance, HOA increases and special assessments. A house usually costs more to maintain and insure, and a condo association can levy a special assessment of thousands of dollars for a roof or an elevator.
The house is ahead on equity from the start — the down payments differ by $20,000 — and the lead reaches $25,000 after 5 years. After 10 years it is $32,179.10, and after 30 years, with the loans paid off, it is $100,000.
Yes — at $400,000 for both, the house wins by $147.17 a month, because the condo still pays the $400 HOA on top of the same P&I. Same price, different answer: the HOA decides it.