Under your rent
36
$525,000
$784/sqft
1 bd · 1 ba · 670 sqft
#213, 2002 St. George Street
Port Moody · Apartment/Condo
~$2,488/mo
Listed by eXp Realty of Canada Inc.MLS® R3157327
Rent vs own
$2,500 a month in rent buys a $527,000 home in Port Moody
At a 5.19% posted rate, 20% down and 25 years. 15 Port Moody homes are listed at or under it.
- Purchase price
- $527,000
- Down payment
- $105,000
- All-in monthly
- $3,071/mo
- Homes listed
- 15
Source: Current MLS® listings.
Your rent
$
a month
The price your rent could cover
$527,000
20% down assumed ($105,000). 15 homes listed at or under it in Port Moody.
Of the first payment, about $694 goes to the loan itself. Tax, strata and insurance would bring the all-in price closer to $414,000.
- Purchase price
- $527,000
- Down payment
- $105,000
- All-in monthly
- $3,071/mo
- Homes listed
- 15
Source: Current MLS® listings.
Port Moody homes your $2,500 rent could own
15 active listingsOpen these Port Moody homes on the map
Draw an area and save homes you like.
Under your rent
39
$475,000
$779/sqft
1 bd · 1 ba · 610 sqft
#501, 2525 Clarke Street
Port Moody · Apartment/Condo
~$2,251/mo
Listed by eXp RealtyMLS® R3171755
Under your rent
30
$499,900
$821/sqft
1 bd · 1 ba · 609 sqft
#4011, 84 Grant Street
Port Moody · Apartment/Condo
~$2,369/mo
Listed by Stilhavn Real Estate ServicesMLS® R3163446
Under your rent
23
$519,000
$798/sqft
1 bd · 1 ba · 650 sqft
#1401, 110 Brew Street
Port Moody · Apartment/Condo
~$2,460/mo
Listed by Dexter RealtyMLS® R3172814
Under your rent
40
$450,000
$959/sqft
1 bd · 1 ba · 469 sqft
#503, 150 James Road
Port Moody · Apartment/Condo
~$2,133/mo
Listed by RE/MAX All Points RealtyMLS® R3162219
Under your rent
23
$498,000
$757/sqft
1 bd · 1 ba · 658 sqft
#304, 121 Brew Street
Port Moody · Apartment/Condo
~$2,360/mo
Listed by Regent Park Realty Inc.MLS® R3139660
Under your rent
32
$499,900
$555/sqft
2 bd · 1 ba · 901 sqft
#902, 295 Guildford Way
Port Moody · Apartment/Condo
~$2,369/mo
Listed by Keller Williams Bold RealtyMLS® R3152406
Under your rent
17
$449,900
$844/sqft
1 bd · 1 ba · 533 sqft
#222, 125 Albert Street
Port Moody · Apartment/Condo
~$2,132/mo
Listed by Marcon Realty Corp.MLS® R3166926
Under your rent
17
$454,900
$849/sqft
1 bd · 1 ba · 536 sqft
#510, 2015 St. Johns Street
Port Moody · Apartment/Condo
~$2,156/mo
Listed by Marcon Realty Corp.MLS® R3166950
Under your rent
31
$499,900
$737/sqft
2 bd · 1 ba · 678 sqft
#405, 3260 St Johns Street
Port Moody · Apartment/Condo
~$2,369/mo
Listed by Oakwyn Realty EncoreMLS® R3101132
Under your rent
31
$469,000
$853/sqft
1 bd · 1 ba · 550 sqft
#105, 2015 St. Johns Street
Port Moody · Apartment/Condo
~$2,223/mo
Listed by Angell, Hasman & Associates Realty Ltd.MLS® R3165941
Under your rent
26
$499,900
$1,052/sqft
1 bd · 1 ba · 475 sqft
#602, 150 JAMES Road
Port Moody · Single Family
~$2,369/mo
Listed by Oakwyn Realty Ltd.MLS® R3155274
NOTE: This representation is based in whole or in part on data generated by the Chilliwack & District Real Estate Board, Fraser Valley Real Estate Board or Real Estate Board of Greater Vancouver which assumes no responsibility for its accuracy. The information contained on this site is based in whole or in part on information that is provided by members of The Canadian Real Estate Association (CREA), who are responsible for its accuracy. CREA reproduces and distributes this information as a service for its members and assumes no responsibility for its accuracy. MLS®, Multiple Listing Service®, and REALTOR® are trademarks of the Canadian Real Estate Association (CREA).
The math
| Rent you pay | $2,500/mo |
|---|---|
| Interest rate | 5.19% |
| Amortization | 25 years |
| Down payment (20%) | $105,000 |
| Mortgage supported | $422,000 |
| Purchase price | $527,000 |
| Tax, strata and insurance | $571/mo |
| All-in monthly | $3,071/mo |
Assumptions
- Rate
- 5.19%, the posted five-year fixed rate. Illustrative, not a quote.
- Amortization
- 25 years
- Down payment
- 20% ($105,000 on $527,000)
- Property tax
- 4.29 per $1,000 of value
- Strata
- $320 a month, an estimate
- Insurance
- $62 a month, an estimate
An estimate, not a mortgage approval or financial advice. Change the rate, down payment or amortization in the calculator and the figures update.
Questions
What can $2,500 a month in rent buy in Port Moody?
About $527,000, at a 5.19% posted rate with 20% down over 25 years. With tax, strata and insurance in the same budget, about $407,000.
How much is the down payment?
$105,000, or 20% of $527,000.
Is the mortgage really the same as the rent?
The mortgage payment is. Tax, strata and insurance add about $571/mo, for $3,071 in total.
Prepared by
Written and maintained by Ray Rasouli, REALTOR®, licensed in British Columbia and founder of Relta Real Estate.
Data
Source: MLS® listing data from BC real estate boards (MLS® Reciprocity) and CREA's DDF®.
NOTE: This representation is based in whole or in part on data generated by the Chilliwack & District Real Estate Board, Fraser Valley Real Estate Board or Real Estate Board of Greater Vancouver which assumes no responsibility for its accuracy. The information contained on this site is based in whole or in part on information that is provided by members of The Canadian Real Estate Association (CREA), who are responsible for its accuracy. CREA reproduces and distributes this information as a service for its members and assumes no responsibility for its accuracy. MLS®, Multiple Listing Service®, and REALTOR® are trademarks of the Canadian Real Estate Association (CREA).
CorrectionsReport a correction
A mortgage broker can confirm what you qualify for.