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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/New Westminster/$1,500/mo

Rent vs mortgage

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

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 $212,000. Here are the 9 New Westminster homes on the market at or under it right now.

Purchase price

$316,000

Down payment

$63,000

All-in monthly

$1,997/mo

Matching homes

9

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

9 New Westminster 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$497/mo
All-in monthly$1,997/mo

New Westminster homes your $1,500 rent could own

#301 – 215 MOWAT Street
Under your rent
22

$298,000

~$1,412/mo

i

#301 – 215 MOWAT Street

New Westminster · Residential

1 bd

1 ba

602 sqft

$495/sqft

Built 1977

MLS® R3138501

View

Royal Pacific Realty Corp.

#804 – 1026 Queens Avenue
Under your rent
35

$289,900

~$1,374/mo

i

#804 – 1026 Queens Avenue

New Westminster · Residential

1 bd

1 ba

637 sqft

$455/sqft

Built 1984

MLS® R3138452

View

Pathway Executives Realty Inc.

#704 – 1026 Queens Avenue
Under your rent
37

$295,000

~$1,398/mo

i

#704 – 1026 Queens Avenue

New Westminster · Residential

1 bd

1 ba

643 sqft

$459/sqft

Built 1985

MLS® R3118916

View

RE/MAX All Points Realty

#208 – 505 Ninth Street
Under your rent
29

$259,900

~$1,232/mo

i

#208 – 505 Ninth Street

New Westminster · Residential

1 bd

1 ba

692 sqft

$376/sqft

Built 1968

MLS® R3141198

View

Royal LePage West Real Estate Services

#506 – 1026 Queens Avenue
Under your rent
36

$309,800

~$1,468/mo

i

#506 – 1026 Queens Avenue

New Westminster · Residential

1 bd

1 ba

689 sqft

$450/sqft

Built 1984

MLS® R3133942

View

RE/MAX All Points Realty

#302 – 723 TWELFTH Street
Under your rent
13

$262,000

~$1,242/mo

i

#302 – 723 TWELFTH Street

New Westminster · Residential

1 bd

1 ba

676 sqft

$388/sqft

Built 1995

MLS® R3131691

View

RE/MAX Real Estate Services

#206 – 910 Fifth Avenue
Under your rent
13

$199,000

~$943/mo

i

#206 – 910 Fifth Avenue

New Westminster · Residential

0 bd

1 ba

411 sqft

$484/sqft

Built 1968

MLS® R3087578

View

Oakwyn Realty Ltd.

#308 – 910 Fifth Avenue
Under your rent
10

$253,000

~$1,199/mo

i

#308 – 910 Fifth Avenue

New Westminster · Residential

1 bd

1 ba

608 sqft

$416/sqft

Built 1968

MLS® R3061184

View

Royal First Realty

#211 – 910 Fifth Avenue
Under your rent
13

$288,000

~$1,365/mo

i

#211 – 910 Fifth Avenue

New Westminster · Residential

2 bd

1 ba

739 sqft

$390/sqft

Built 1968

MLS® R3131928

View

Multiple Realty Ltd.

See all on the map (9 active listings)

Other rents in New Westminster

$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 4.36 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 New Westminster?

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 $212,000.

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 $497/mo in tax, strata and insurance, so the honest all-in monthly on a $316,000 home is closer to $1,997.

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 New Westminster$2,000/mo in New Westminster$2,200/mo in New Westminster$2,500/mo in New Westminster$3,000/mo in New Westminster$3,500/mo in New Westminster$4,000/mo in New WestminsterAll rent bands in New WestminsterNew Westminster 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.