Under your rent
49
$184,900
~$876/mo
i#34 – 1098 Houston Street
Merritt · Residential
3 bd
2 ba
1,566 sqft
$118/sqft
Built 2003
MLS® 10363079
eXp Realty (Kamloops)
Rent vs mortgage
$1,500 a month in rent buys a $316,000 home in Merritt
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 $194,000. Here are the 76 Merritt homes on the market at or under it right now.
Purchase price
$316,000
Down payment
$63,000
All-in monthly
$2,080/mo
Matching homes
76
Merritt homes your $1,500 rent could own
Under your rent
3
$199,000
~$943/mo
iLot 20 – 2713 PEREGRINE Way
Merritt · Land
MLS® 177018
PG Direct Realty Ltd.
Under your rent
25
$299,900
~$1,421/mo
i#6 – 2760 Voght Street
Merritt · Residential
2 bd
2 ba
1,125 sqft
$267/sqft
Built 1995
MLS® 10393046
REMAX Legacy
Under your rent
49
$315,000
~$1,493/mo
i#12 – 1717 Granite Avenue
Merritt · Residential
3 bd
3 ba
1,852 sqft
$170/sqft
Built 1988
MLS® 10397549
Canada Flex Realty Group
Under your rent
33
$229,000
~$1,085/mo
i1202 Houston Street
Merritt · Residential
2 bd
1 ba
796 sqft
$288/sqft
Built 1971
MLS® 10397531
Canada Flex Realty Group
Under your rent
40
$245,000
~$1,161/mo
i#5 – 2390 Seyom Crescent
Merritt · Residential
3 bd
2 ba
1,184 sqft
$207/sqft
Built 1994
MLS® 10377763
Canada Flex Realty Group
Under your rent
29
$99,000
~$469/mo
i#6B – 1500 SPRING Street
Merritt · Residential
2 bd
1 ba
624 sqft
$159/sqft
Built 1972
MLS® 10396850
Real Broker B.C. Ltd
Under your rent
28
$249,000
~$1,180/mo
i537 Wild Rose Drive
Merritt · Land
MLS® 10393705
Royal LePage Merritt R.E. Serv
Under your rent
10
$229,000
~$1,085/mo
iNICOLA Avenue
Merritt · Farm
MLS® 10388586
Royal LePage Merritt R.E. Serv
Under your rent
18
$290,000
~$1,375/mo
i1288 Douglas Street
Merritt · Residential
4 bd
1 ba
1,690 sqft
$172/sqft
Built 1973
MLS® 10397893
Royal LePage Merritt R.E. Serv
Under your rent
4
$275,000
~$1,303/mo
iSL15 – 6528 Waterside Trail
Merritt · Land
MLS® 10397722
Century 21 Assurance Realty Ltd.
Under your rent
37
$175,000
~$829/mo
i#18 – 1401 NICOLA Avenue
Merritt · Residential
2 bd
2 ba
1,248 sqft
$140/sqft
Built 1992
MLS® 10371169
eXp Realty (Kelowna)
See all on the map (76 active listings)
Other rents in Merritt
$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 7.49 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 Merritt?
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 $194,000.
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 $580/mo in tax, strata and insurance, so the honest all-in monthly on a $316,000 home is closer to $2,080.
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.
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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.