Under your rent
25
$530,000
~$2,512/mo
i#503 – 10 Renaissance Square
New Westminster · Residential
1 bd
2 ba
755 sqft
$702/sqft
Built 2006
MLS® R3137433
RE/MAX Crest Realty
Rent vs mortgage
$3,000 a month in rent buys a $633,000 home in New Westminster
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 $504,000. Here are the 245 New Westminster homes on the market at or under it right now.
Purchase price
$633,000
Down payment
$127,000
All-in monthly
$3,612/mo
Matching homes
245
New Westminster homes your $3,000 rent could own
Under your rent
21
$338,000
~$1,602/mo
i#308 – 55 Blackberry Drive
New Westminster · Residential
1 bd
1 ba
632 sqft
$535/sqft
Built 1994
MLS® R3150729
RE/MAX All Points Realty
Under your rent
32
$555,000
~$2,631/mo
i#101 – 850 Royal Avenue
New Westminster · Residential
2 bd
2 ba
916 sqft
$606/sqft
Built 2003
MLS® R3152253
RE/MAX Heights Realty
Newly Listed
Under your rent
30
$429,000
~$2,033/mo
i#1506 – 615 Belmont Street
New Westminster · Residential
1 bd
1 ba
890 sqft
$482/sqft
Built 1983
MLS® R3157390
RE/MAX Select Properties
Under your rent
38
$499,000
~$2,365/mo
i#702 – 1026 Queens Avenue
New Westminster · Residential
2 bd
2 ba
1,024 sqft
$487/sqft
Built 1985
MLS® R3154219
RE/MAX Select Realty
Newly Listed
Under your rent
39
$569,900
~$2,701/mo
i#1808 – 608 Belmont Street
New Westminster · Residential
1 bd
1 ba
741 sqft
$769/sqft
Built 2013
MLS® R3155159
RE/MAX All Points Realty
Under your rent
36
$569,900
~$2,701/mo
i#1704 – 612 Sixth Street
New Westminster · Residential
1 bd
2 ba
986 sqft
$578/sqft
Built 1999
MLS® R3153170
RE/MAX All Points Realty
Under your rent
Open House on Sun, 2pm–4pm
16
$600,000
~$2,844/mo
i#1008 – 615 Belmont Street
New Westminster · Residential
3 bd
2 ba
1,139 sqft
$527/sqft
Built 1983
MLS® R3152077
RE/MAX City Realty
Under your rent
20
$380,000
~$1,801/mo
i#404 – 320 Royal Avenue
New Westminster · Residential
1 bd
1 ba
664 sqft
$572/sqft
Built 1975
MLS® R3146693
RE/MAX All Points Realty
Under your rent
4
$599,999
~$2,844/mo
i#402 – 1012 AUCKLAND Street
New Westminster · Residential
2 bd
2 ba
898 sqft
$668/sqft
Built 2020
MLS® R3157097
Nu Stream Realty Inc.
Under your rent
34
$495,000
~$2,346/mo
i#1906 – 988 QUAYSIDE Drive
New Westminster · Residential
1 bd
1 ba
554 sqft
$894/sqft
Built 2019
MLS® R3154112
Sutton Group - Vancouver First Realty
Under your rent
Open House on Sat, 1pm–4pm
21
$629,900
~$2,986/mo
i#311 – 310 SALTER Street
New Westminster · Residential
2 bd
2 ba
995 sqft
$633/sqft
Built 2023
MLS® R3154023
Oakwyn Realty Ltd.
See all on the map (245 active listings)
Other rents in New Westminster
$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 4.36 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 $3,000 a month in rent buy in New Westminster?
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 $504,000.
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 $612/mo in tax, strata and insurance, so the honest all-in monthly on a $633,000 home is closer to $3,612.
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.