Rent vs mortgage
That is what a 3500-a-month rent carries as a mortgage at 5.19%, with 20% down over 25 years. Covering tax, strata and insurance in the same budget, the matching price is about $612,000. Here is where that reaches across British Columbia.
Purchase price
$738,000
Down payment
$148,000
All-in monthly
$4,097/mo
BC homes
21,040
$3,500/mo carries a $738,000 purchase price in every market. What changes is how that compares to the local median and how many homes fall in range.
| City | Median home | Homes under $738,000 |
|---|---|---|
| Surrey | $1,048,000 | 1,492 |
| Vancouver | $1,398,000 | 947 |
| Richmond | $1,019,000 | 625 |
| Burnaby | $890,000 | 692 |
| Kelowna | $799,000 | 879 |
| Langley | $949,900 | 546 |
| Abbotsford | $824,900 | 560 |
| Coquitlam | $952,450 | 486 |
| Chilliwack | $729,000 | 550 |
| Kamloops | $605,000 | 697 |
| North Vancouver | $1,320,000 | 184 |
| Maple Ridge | $1,099,800 | 226 |
Every figure assumes a 5.19% interest rate, 20% down and a 25-year amortization. Property tax uses the local municipal residential rate of 3.50 per $1,000; strata ($320/mo) and insurance ($62/mo) are estimates, since neither is knowable from rent alone. Change any of these in the calculator and the numbers update in place. This is an estimate for comparison, not a mortgage approval or financial advice. Your rate, down payment and the home's real carrying costs will differ. Confirm with a mortgage professional before you rely on it.
I am Ray Rasouli, a licensed REALTOR® with Real Broker B.C. Ltd. The purchase price is your rent solved back through a standard amortized mortgage, and the listings come from live MLS® inventory refreshed hourly, not a static table. The figures are for comparison, not a mortgage approval. Tell me your situation and I will confirm what you actually qualify for.
Listing data provided by the Real Estate Board of Greater Vancouver and partner boards under MLS® Reciprocity. Deemed reliable but not guaranteed accurate. Mortgage figures are estimates for comparison only, not financial advice. MLS® and REALTOR® are trademarks of CREA.