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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/Nanaimo/$1,500/mo

Rent vs mortgage

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

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 $197,000. Here are the 54 Nanaimo homes on the market at or under it right now.

Purchase price

$316,000

Down payment

$63,000

All-in monthly

$2,064/mo

Matching homes

54

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

54 Nanaimo 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$564/mo
All-in monthly$2,064/mo

Nanaimo homes your $1,500 rent could own

#30 – 5854 Turner Road
Under your rent
21

$198,000

~$938/mo

i

#30 – 5854 Turner Road

Nanaimo · Residential

2 bd

2 ba

980 sqft

$202/sqft

Built 1989

MLS® 1044233

View

Royal LePage Nanaimo Realty (NanIsHwyN)

#509 – 3108 Barons Road
Under your rent
37

$294,000

~$1,393/mo

i

#509 – 3108 Barons Road

Nanaimo · Residential

2 bd

1 ba

722 sqft

$407/sqft

Built 1981

MLS® 1041440

View

REMAX Professionals (NA)

#103 – 645 Selby Street
Under your rent
44

$315,000

~$1,493/mo

i

#103 – 645 Selby Street

Nanaimo · Residential

2 bd

1 ba

741 sqft

$425/sqft

Built 1995

MLS® 1038626

View

REMAX Professionals (NA)

#407 – 4728 Uplands Drive
Under your rent
22

$174,900

~$829/mo

i

#407 – 4728 Uplands Drive

Nanaimo · Residential

1 bd

1 ba

720 sqft

$243/sqft

Built 1981

MLS® 1046844

View

Sutton Group-West Coast Realty (Nan)

#107 – 3185 Barons Road
Under your rent
5

$254,900

~$1,208/mo

i

#107 – 3185 Barons Road

Nanaimo · Residential

2 bd

1 ba

971 sqft

$263/sqft

Built 1989

MLS® 1043191

View

Royal LePage Nanaimo Realty (NanIsHwyN)

#5208 – 999 Bowen Road
Under your rent
20

$225,000

~$1,066/mo

i

#5208 – 999 Bowen Road

Nanaimo · Residential

1 bd

1 ba

669 sqft

$336/sqft

Built 1965

MLS® 1040904

View

REMAX Professionals (NA)

#30 – 971 Douglas Avenue
Under your rent
12

$249,900

~$1,184/mo

i

#30 – 971 Douglas Avenue

Nanaimo · Residential

3 bd

1 ba

1,100 sqft

$227/sqft

Built 1981

MLS® 1047263

View

PG Direct Realty Ltd.

#104 – 567 TOWNSITE Road
Under your rent
34

$275,000

~$1,303/mo

i

#104 – 567 TOWNSITE Road

Nanaimo · Residential

1 bd

1 ba

690 sqft

$399/sqft

Built 1989

MLS® 1046832

View

Royal LePage Island Living (QU)

#307 – 1912 Bowen Road
Under your rent
52

$314,900

~$1,493/mo

i

#307 – 1912 Bowen Road

Nanaimo · Residential

2 bd

1 ba

913 sqft

$345/sqft

Built 1990

MLS® 1041146

View

eXp Realty (NA)

#209 – 30 Cavan Street
Under your rent
25

$270,000

~$1,280/mo

i

#209 – 30 Cavan Street

Nanaimo · Residential

2 bd

1 ba

870 sqft

$310/sqft

Built 1990

MLS® 1044313

View

Royal LePage Nanaimo Realty LD

#71 – 971 Douglas Avenue
Under your rent
27

$150,000

~$711/mo

i

#71 – 971 Douglas Avenue

Nanaimo · Residential

2 bd

2 ba

943 sqft

$159/sqft

Built 1984

MLS® 1046987

View

Coldwell Banker Oceanside Real Estate

#9 – 1630 Crescent View Drive
Under your rent
2

$239,000

~$1,133/mo

i

#9 – 1630 Crescent View Drive

Nanaimo · Residential

2 bd

1 ba

887 sqft

$269/sqft

Built 1973

MLS® 1043566

View

460 Realty Inc. (NA)

See all on the map (54 active listings)

Other rents in Nanaimo

$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 6.91 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 Nanaimo?

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 $197,000.

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 $564/mo in tax, strata and insurance, so the honest all-in monthly on a $316,000 home is closer to $2,064.

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 Nanaimo$2,000/mo in Nanaimo$2,200/mo in Nanaimo$2,500/mo in Nanaimo$3,000/mo in Nanaimo$3,500/mo in Nanaimo$4,000/mo in NanaimoAll rent bands in NanaimoNanaimo 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.