Rent vs own
Enter your rent to see the home price it could cover and homes listed at that price.
Source: Current MLS® listings.
Your rent
$
a month
The price your rent could cover
$527,000
20% down assumed ($105,000). 12,028 homes listed at or under it in BC.
Of the first payment, about $694 goes to the loan itself. Tax, strata and insurance would bring the all-in price closer to $414,000.
Source: Current MLS® listings.
Across BC, at 5.19% over 25 years with 20% down.
A $2,500 rent covers a $527,000 price in any city. Local prices and listings differ.
| City | Median asking | Homes under $527,000 |
|---|---|---|
| Surrey | $999,999 | 714 |
| Vancouver | $1,379,500 | 309 |
| Burnaby | $859,950 | 189 |
| Richmond | $1,004,800 | 248 |
| Kelowna | $789,450 | 534 |
| Langley | $959,900 | 279 |
| Abbotsford | $799,900 | 336 |
| Coquitlam | $956,450 | 175 |
| Chilliwack | $750,000 | 300 |
| North Vancouver | $1,298,000 | 60 |
| Kamloops | $639,750 | 356 |
| Maple Ridge | $1,099,000 | 132 |
Buying adds transfer tax, legal fees and an inspection, paid on closing.
Property tax, strata and insurance are on top of the mortgage. Compare the total with your rent.
A lease is easier to leave. Owning suits staying put for some years.
To see the year owning starts to cost less than renting, try rent or buy.
An estimate, not a mortgage approval or financial advice. Change the rate, down payment or amortization in the calculator and the figures update.
Written and maintained by Ray Rasouli, REALTOR®, licensed in British Columbia and founder of Relta Real Estate.
Source: MLS® listing data from BC real estate boards (MLS® Reciprocity) and CREA's DDF®.
NOTE: This representation is based in whole or in part on data generated by the Chilliwack & District Real Estate Board, Fraser Valley Real Estate Board or Real Estate Board of Greater Vancouver which assumes no responsibility for its accuracy. The information contained on this site is based in whole or in part on information that is provided by members of The Canadian Real Estate Association (CREA), who are responsible for its accuracy. CREA reproduces and distributes this information as a service for its members and assumes no responsibility for its accuracy. MLS®, Multiple Listing Service®, and REALTOR® are trademarks of the Canadian Real Estate Association (CREA).