Under your rent
28
$285,000
~$1,351/mo
i#74 – 14600 Morris Valley Road
Mission · Land
MLS® R3115982
eXp Realty
Rent vs mortgage
$1,500 a month in rent buys a $316,000 home in Mission
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 $214,000. Here are the 33 Mission homes on the market at or under it right now.
Purchase price
$316,000
Down payment
$63,000
All-in monthly
$1,988/mo
Matching homes
33
Mission homes your $1,500 rent could own
Under your rent
26
$230,000
~$1,090/mo
i#48 – 14600 Morris Valley Road
Mission · Residential
1 bd
1 ba
708 sqft
$325/sqft
Built 1994
MLS® R3152692
Century 21 Creekside Realty (Agassiz)
Under your rent
36
$180,000
~$853/mo
i#133 – 14600 Morris Valley Road
Mission · Land
MLS® R3097664
eXp Realty of Canada, Inc.
Under your rent
11
$169,800
~$805/mo
i#191 – 8400 Shook Road
Mission · Land
MLS® R3104379
RE/MAX Crest Realty
Under your rent
31
$289,000
~$1,370/mo
i#7 – 8953 Shook Road
Mission · Residential
2 bd
1 ba
607 sqft
$476/sqft
Built 2023
MLS® R3151605
eXp Realty
Under your rent
27
$280,000
~$1,327/mo
i#307A – 21000 Enzian Way
Mission · Residential
1 bd
1 ba
564 sqft
$496/sqft
Built 1978
MLS® R3152230
Homelife Advantage Realty Ltd
Under your rent
25
$299,999
~$1,422/mo
i#83 – 14550 Morris Valley Road
Mission · Land
MLS® R3128025
RE/MAX Magnolia
Under your rent
26
$299,000
~$1,417/mo
i#19 – 9960 Wilson Street
Mission · Residential
2 bd
2 ba
948 sqft
$315/sqft
Built 2006
MLS® R3151155
Royal LePage Little Oak Realty
Under your rent
31
$285,000
~$1,351/mo
i#10 – 34519 Lougheed Highway
Mission · Residential
2 bd
1 ba
690 sqft
$413/sqft
Built 1968
MLS® R3147745
RE/MAX Truepeak Realty
Under your rent
12
$299,000
~$1,417/mo
i#303B – 21000 Enzian Way
Mission · Residential
1 bd
1 ba
684 sqft
$437/sqft
Built 1982
MLS® R3131136
Homelife Advantage Realty Ltd.
Under your rent
9
$139,000
~$659/mo
i#67 – 8400 Shook Road
Mission · Land
MLS® R3146552
RE/MAX Crest Realty
Under your rent
15
$178,000
~$844/mo
i#107 – 8400 Shook Road
Mission · Land
MLS® R3116452
Homelife Advantage Realty Ltd.
See all on the map (33 active listings)
Other rents in Mission
$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 4.00 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 Mission?
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 $214,000.
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 $488/mo in tax, strata and insurance, so the honest all-in monthly on a $316,000 home is closer to $1,988.
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.