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500-666 Burrard Street, Vancouver, BC V6C 3P6
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®MLSReciprocity
Home/Rent vs mortgage/Kelowna/$3,000/mo

Rent vs mortgage

$3,000 a month in rent buys a $633,000 home in Kelowna

That is what a 3000-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 $503,000. Here are the 696 Kelowna homes on the market at or under it right now.

Purchase price

$633,000

Down payment

$127,000

All-in monthly

$3,618/mo

Matching homes

696

Rent or own? See what you could afford

Your name

$

/mo

Your monthly rent

Paid as a mortgage, $3,000/mo owns a home worth about

$633,000

696 Kelowna homes are in your budget

Builds your equity

Rent builds none

Covering mortgage, tax, strata and insurance together, the matching price is about $513,000.

Rate %
Down %
Amort. yrs
Email *
How $3,000/mo of rent becomes a purchase price
Rent you pay$3,000/mo
Interest rate5.19%
Amortization25 years
Down payment (20%)$127,000
Mortgage supported$506,000
Purchase price$633,000
Tax, strata & insurance$618/mo
All-in monthly$3,618/mo

Kelowna homes your $3,000 rent could own

#104 – 1777 Water Street
Under your rent
35

$319,000

~$1,512/mo

i

#104 – 1777 Water Street

Kelowna · Residential

1 bd

1 ba

652 sqft

$489/sqft

Built 1967

MLS® 10394234

View

Royal LePage Kelowna

#406 – 1290 St. Paul Street
Under your rent
42

$330,000

~$1,564/mo

i

#406 – 1290 St. Paul Street

Kelowna · Residential

0 bd

1 ba

397 sqft

$831/sqft

Built 2014

MLS® 10394081

View

eXp Realty (Kelowna)

#442 – 1260 Raymer Avenue
Under your rent
34

$524,800

~$2,487/mo

i

#442 – 1260 Raymer Avenue

Kelowna · Residential

2 bd

2 ba

1,402 sqft

$374/sqft

Built 1989

MLS® 10397418

View

Royal LePage Kelowna

#5 – 3135 Walnut Street
Under your rent
37

$500,000

~$2,370/mo

i

#5 – 3135 Walnut Street

Kelowna · Residential

2 bd

2 ba

1,004 sqft

$498/sqft

Built 1972

MLS® 10396084

View

Real Broker B.C. Ltd

#304 – 1534 LAWRENCE Avenue
Under your rent
36

$428,900

~$2,033/mo

i

#304 – 1534 LAWRENCE Avenue

Kelowna · Residential

2 bd

2 ba

1,286 sqft

$334/sqft

Built 1987

MLS® 10389833

View

Oakwyn Realty Okanagan

#105 – 2300 Benvoulin Road
Under your rent
62

$369,000

~$1,749/mo

i

#105 – 2300 Benvoulin Road

Kelowna · Residential

1 bd

2 ba

1,059 sqft

$348/sqft

Built 2001

MLS® 10383949

View

REMAX Kelowna

#39 – 1874 Parkview Crescent
Under your rent
26

$599,900

~$2,843/mo

i

#39 – 1874 Parkview Crescent

Kelowna · Residential

3 bd

3 ba

2,415 sqft

$248/sqft

Built 1993

MLS® 10393938

View

Royal LePage Kelowna

#113 – 2350 Stillingfleet Road
Under your rent
41

$449,900

~$2,132/mo

i

#113 – 2350 Stillingfleet Road

Kelowna · Residential

2 bd

2 ba

1,075 sqft

$419/sqft

Built 1994

MLS® 10380649

View

Royal LePage Kelowna

#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

#16 – 1225 Findlay Road
Under your rent
46

$614,800

~$2,914/mo

i

#16 – 1225 Findlay Road

Kelowna · Residential

3 bd

3 ba

1,496 sqft

$411/sqft

Built 2023

MLS® 10396008

View

Stilhavn Real Estate Services

#417 – 722 Valley Road
Under your rent
42

$479,000

~$2,270/mo

i

#417 – 722 Valley Road

Kelowna · Residential

2 bd

2 ba

934 sqft

$513/sqft

Built 2019

MLS® 10391186

View

Century 21 Assurance Realty Ltd

See all on the map (696 active listings)

Other rents in Kelowna

$1,500/mo · $1,800/mo · $2,000/mo · $2,200/mo · $2,500/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 $3,000 a month in rent buy in Kelowna?

At a 5.19% rate with 20% down over 25 years, $3,000/mo carries the mortgage on a home priced around $633,000. Covering tax, strata and insurance inside the same budget, the matching price is about $503,000.

How much do I need for a down payment?

On a $633,000 home at 20% down, the down payment is $127,000. 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 $618/mo in tax, strata and insurance, so the honest all-in monthly on a $633,000 home is closer to $3,618.

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.
$1,500/mo in Kelowna$1,800/mo in Kelowna$2,000/mo in Kelowna$2,200/mo in Kelowna$2,500/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.