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The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. MLS®, Multiple Listing Service®, and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA.

®MLSReciprocity
Home/Rent vs mortgage/Kelowna/$1,500/mo

Rent vs mortgage

$1,500 a month in rent buys a $316,000 home in Kelowna

That is what a 1500-a-month rent carries as a mortgage at 5.19%, with 20% down over a 25-year amortization. Covering property tax, strata and insurance inside the same monthly budget, the matching price is about $211,000. Here are the 151 Kelowna homes on the market at or under it right now.

Purchase price

$316,000

Down payment

$63,000

All-in monthly

$2,000/mo

Matching homes

151

Rent or own? See what you could afford

Your name

$

/mo

Your monthly rent

Paid as a mortgage, $1,500/mo owns a home worth about

$316,000

151 Kelowna homes are in your budget

Builds your equity

Rent builds none

Covering mortgage, tax, strata and insurance together, the matching price is about $216,000.

Rate %
Down %
Amort. yrs
Email *
How $1,500/mo of rent becomes a purchase price
Rent you pay$1,500/mo
Interest rate5.19%
Amortization25 years
Down payment (20%)$63,000
Mortgage supported$253,000
Purchase price$316,000
Tax, strata & insurance$500/mo
All-in monthly$2,000/mo

Kelowna homes your $1,500 rent could own

#638 – 925 Leon Avenue
Under your rent
9

$199,000

~$943/mo

i

#638 – 925 Leon Avenue

Kelowna · Residential

0 bd

1 ba

309 sqft

$644/sqft

Built 2018

MLS® 10392214

View

Coldwell Banker Executives Realty

#133D – 8900 Jim Bailey Road
Under your rent
19

$259,500

~$1,230/mo

i

#133D – 8900 Jim Bailey Road

Kelowna · Residential

1 bd

1 ba

560 sqft

$463/sqft

Built 2024

MLS® 10398411

View

eXp Realty (Kelowna)

#35 – 415 Commonwealth Road
Under your rent
71

$300,000

~$1,422/mo

i

#35 – 415 Commonwealth Road

Kelowna · Residential

1 bd

1 ba

756 sqft

$397/sqft

Built 2008

MLS® 10397502

View

Royal LePage Kelowna

#217 – 3591 Old Vernon Road
Under your rent
23

$156,000

~$739/mo

i

#217 – 3591 Old Vernon Road

Kelowna · Residential

2 bd

2 ba

918 sqft

$170/sqft

Built 1978

MLS® 10397945

View

Oakwyn Realty Okanagan

#320 – 345 Dougall Road
Under your rent
13

$208,000

~$986/mo

i

#320 – 345 Dougall Road

Kelowna · Residential

0 bd

1 ba

312 sqft

$667/sqft

Built 2019

MLS® 10395229

View

Oakwyn Realty Okanagan

#220 – 345 Dougall Road
Under your rent
14

$188,000

~$891/mo

i

#220 – 345 Dougall Road

Kelowna · Residential

0 bd

1 ba

312 sqft

$603/sqft

Built 2019

MLS® 10393723

View

Oakwyn Realty Okanagan

#218 – 345 Dougall Road
Under your rent
8

$195,000

~$924/mo

i

#218 – 345 Dougall Road

Kelowna · Residential

0 bd

1 ba

306 sqft

$637/sqft

Built 2019

MLS® 10386892

View

Oakwyn Realty Okanagan

#307 – 1274 Devonshire Avenue
Under your rent
66

$249,942

~$1,185/mo

i

#307 – 1274 Devonshire Avenue

Kelowna · Residential

0 bd

1 ba

309 sqft

$809/sqft

Built 2024

MLS® 10386416

View

Royal LePage Kelowna

#155 – 415 Commonwealth Road
Under your rent
32

$85,000

~$403/mo

i

#155 – 415 Commonwealth Road

Kelowna · Residential

MLS® 10397308

View

Royal LePage Kelowna

#151 – 415 Commonwealth Road
Under your rent
31

$150,000

~$711/mo

i

#151 – 415 Commonwealth Road

Kelowna · Residential

MLS® 10393324

View

Royal LePage Kelowna

#573 – 415 Commonwealth Road
Under your rent
27

$145,000

~$687/mo

i

#573 – 415 Commonwealth Road

Kelowna · Residential

1 bd

1 ba

Built 2016

MLS® 10378001

View

REMAX Kelowna

#119 – 415 Commonwealth Road
Under your rent
12

$95,000

~$450/mo

i

#119 – 415 Commonwealth Road

Kelowna · Residential

MLS® 10398495

View

Coldwell Banker Horizon Realty

See all on the map (151 active listings)

Other rents in Kelowna

$1,800/mo · $2,000/mo · $2,200/mo · $2,500/mo · $3,000/mo · $3,500/mo · $4,000/mo

The assumptions behind these numbers

Every figure assumes a 5.19% interest rate, 20% down and a 25-year amortization. Property tax uses the local municipal residential rate of 4.47 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.

Common questions

What can $1,500 a month in rent buy in Kelowna?

At a 5.19% rate with 20% down over 25 years, $1,500/mo carries the mortgage on a home priced around $316,000. Covering tax, strata and insurance inside the same budget, the matching price is about $211,000.

How much do I need for a down payment?

On a $316,000 home at 20% down, the down payment is $63,000. A smaller down payment raises the monthly cost and may add mortgage insurance.

Is the mortgage really the same as my rent?

The mortgage payment is, by design; that is what this page solves for. Owning also adds roughly $500/mo in tax, strata and insurance, so the honest all-in monthly on a $316,000 home is closer to $2,000.

RR

How these numbers are worked out

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.

Page methodology and sources are stated beside the figures. Content is reviewed by Ray Rasouli, REALTOR®, Real Broker B.C. Ltd.
$1,800/mo in Kelowna$2,000/mo in Kelowna$2,200/mo in Kelowna$2,500/mo in Kelowna$3,000/mo in Kelowna$3,500/mo in Kelowna$4,000/mo in KelownaAll rent bands in KelownaKelowna market reportMortgage calculator

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.