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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/Penticton/$1,500/mo

Rent vs mortgage

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

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 $206,000. Here are the 57 Penticton homes on the market at or under it right now.

Purchase price

$316,000

Down payment

$63,000

All-in monthly

$2,025/mo

Matching homes

57

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

57 Penticton 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$525/mo
All-in monthly$2,025/mo

Penticton homes your $1,500 rent could own

#203 – 3426 Hemlock Street
Under your rent
30

$285,000

~$1,351/mo

i

#203 – 3426 Hemlock Street

Penticton · Residential

2 bd

1 ba

980 sqft

$291/sqft

Built 1991

MLS® 10384731

View

Front Street Realty

#21 – 3999 Skaha Lake Road
Under your rent
37

$110,000

~$521/mo

i

#21 – 3999 Skaha Lake Road

Penticton · Residential

2 bd

1 ba

831 sqft

$132/sqft

Built 1969

MLS® 10398332

View

RE/MAX Orchard Country

#66 – 999 Burnaby Avenue
Under your rent
29

$280,000

~$1,327/mo

i

#66 – 999 Burnaby Avenue

Penticton · Residential

3 bd

2 ba

1,137 sqft

$246/sqft

Built 1982

MLS® 10392994

View

Royal LePage Locations West

#14 – 197 Dauphin Avenue
Under your rent
31

$144,900

~$687/mo

i

#14 – 197 Dauphin Avenue

Penticton · Residential

2 bd

2 ba

866 sqft

$167/sqft

Built 1970

MLS® 10377688

View

Royal LePage Locations West

2 Riva Ridge
Under your rent
34

$95,000

~$450/mo

i

2 Riva Ridge

Penticton · Residential

2 bd

1 ba

924 sqft

$103/sqft

Built 1983

MLS® 10395233

View

Chamberlain Property Group

#101 – 1410 Penticton Avenue
Under your rent
8

$195,000

~$924/mo

i

#101 – 1410 Penticton Avenue

Penticton · Residential

1 bd

1 ba

650 sqft

$300/sqft

Built 1976

MLS® 10397657

View

RE/MAX Penticton Realty

#208 – 1410 Penticton Avenue
Under your rent
7

$195,000

~$924/mo

i

#208 – 1410 Penticton Avenue

Penticton · Residential

1 bd

1 ba

650 sqft

$300/sqft

Built 1976

MLS® 10397662

View

RE/MAX Penticton Realty

3224 Evergreen Drive
Under your rent
15

$230,000

~$1,090/mo

i

3224 Evergreen Drive

Penticton · Land

MLS® 10388193

View

Real Broker B.C. Ltd

#55 – 3245 Paris Street
Under your rent
34

$99,900

~$474/mo

i

#55 – 3245 Paris Street

Penticton · Residential

3 bd

1 ba

720 sqft

$139/sqft

Built 1976

MLS® 10396077

View

Chamberlain Property Group

#73 – 3999 Skaha Lake Road
Under your rent
14

$164,900

~$782/mo

i

#73 – 3999 Skaha Lake Road

Penticton · Residential

2 bd

2 ba

912 sqft

$181/sqft

Built 1976

MLS® 10375018

View

RE/MAX Penticton Realty

#207 – 150 SKAHA Place
Under your rent
9

$234,900

~$1,113/mo

i

#207 – 150 SKAHA Place

Penticton · Residential

1 bd

1 ba

572 sqft

$411/sqft

Built 1980

MLS® 10397632

View

2 Percent Realty Interior Inc.

#104 – 110 Skaha Place
Under your rent
35

$274,900

~$1,303/mo

i

#104 – 110 Skaha Place

Penticton · Residential

2 bd

1 ba

872 sqft

$315/sqft

Built 1981

MLS® 10393819

View

Royal LePage Elite West

See all on the map (57 active listings)

Other rents in Penticton

$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 5.44 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 Penticton?

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 $206,000.

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 $525/mo in tax, strata and insurance, so the honest all-in monthly on a $316,000 home is closer to $2,025.

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 Penticton$2,000/mo in Penticton$2,200/mo in Penticton$2,500/mo in Penticton$3,000/mo in Penticton$3,500/mo in Penticton$4,000/mo in PentictonAll rent bands in PentictonPenticton 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.