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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/Terrace/$3,000/mo

Rent vs mortgage

$3,000 a month in rent buys a $633,000 home in Terrace

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 $463,000. Here are the 95 Terrace homes on the market at or under it right now.

Purchase price

$633,000

Down payment

$127,000

All-in monthly

$3,807/mo

Matching homes

95

Rent or own? See what you could afford

Your name

$

/mo

Your monthly rent

Paid as a mortgage, $3,000/mo owns a home worth about

$633,000

95 Terrace homes are in your budget

Builds your equity

Rent builds none

Covering mortgage, tax, strata and insurance together, the matching price is about $513,000.

Rate %
Down %
Amort. yrs
Email *
How $3,000/mo of rent becomes a purchase price
Rent you pay$3,000/mo
Interest rate5.19%
Amortization25 years
Down payment (20%)$127,000
Mortgage supported$506,000
Purchase price$633,000
Tax, strata & insurance$807/mo
All-in monthly$3,807/mo

Terrace homes your $3,000 rent could own

3981 DOBBIE Street
Under your rent
27

$625,000

~$2,962/mo

i

3981 DOBBIE Street

Terrace · Residential

2 bd

2 ba

2,297 sqft

$272/sqft

Built 2012

MLS® R3158035

View

RE/MAX Coast Mountains

#121 – 5204 ACKROYD Street
Under your rent
20

$239,900

~$1,137/mo

i

#121 – 5204 ACKROYD Street

Terrace · Residential

2 bd

2 ba

924 sqft

$260/sqft

Built 2019

MLS® R3158010

View

RE/MAX Coast Mountains

3712 EBY Street
Under your rent
29

$589,900

~$2,796/mo

i

3712 EBY Street

Terrace · Residential

8 bd

4 ba

3,600 sqft

$164/sqft

Built 1965

MLS® R3130586

View

Royal LePage Aspire Realty (Terr)

2415 USK STATION Road
Under your rent
18

$275,000

~$1,303/mo

i

2415 USK STATION Road

Terrace · Residential

1 bd

1 ba

2,448 sqft

$112/sqft

Built 1998

MLS® R3155196

View

RE/MAX Coast Mountains

144 CEDARVALE FERRY Road
Under your rent
40

$359,900

~$1,706/mo

i

144 CEDARVALE FERRY Road

Terrace · Residential

3 bd

1 ba

1,390 sqft

$259/sqft

Built 9999

MLS® R3151543

View

RE/MAX Coast Mountains

4931 GAIR Avenue
Under your rent
18

$545,000

~$2,583/mo

i

4931 GAIR Avenue

Terrace · Residential

4 bd

2 ba

1,728 sqft

$315/sqft

Built 1964

MLS® R3126539

View

RE/MAX Coast Mountains

4726 DAVIS Avenue
Under your rent
15

$469,000

~$2,223/mo

i

4726 DAVIS Avenue

Terrace · Residential

3 bd

1 ba

1,320 sqft

$355/sqft

Built 1953

MLS® R3157921

View

RE/MAX Coast Mountains

2302 EVERGREEN Street
Under your rent
17

$459,900

~$2,180/mo

i

2302 EVERGREEN Street

Terrace · Residential

5 bd

2 ba

1,884 sqft

$244/sqft

Built 1978

MLS® R3157737

View

Royal LePage Aspire Realty (Terr)

4001 THOMAS Street
Under your rent
5

$429,900

~$2,038/mo

i

4001 THOMAS Street

Terrace · Residential

4 bd

1 ba

2,024 sqft

$212/sqft

Built 1955

MLS® R3157726

View

Royal LePage Aspire Realty (Terr)

4907 LABELLE Avenue
Under your rent
33

$615,000

~$2,915/mo

i

4907 LABELLE Avenue

Terrace · Residential

4 bd

3 ba

2,099 sqft

$293/sqft

Built 1975

MLS® R3157117

View

RE/MAX Coast Mountains

#3 – 1440 WESTSIDE Road
Under your rent
34

$425,000

~$2,014/mo

i

#3 – 1440 WESTSIDE Road

Terrace · Land

MLS® R3156162

View

RE/MAX Coast Mountains (PR)

#3 – 2705 KALUM Street
Under your rent
16

$329,900

~$1,564/mo

i

#3 – 2705 KALUM Street

Terrace · Residential

2 bd

0 ba

1,298 sqft

$254/sqft

Built 1998

MLS® R3153677

View

Royal LePage Aspire Realty (Terr)

See all on the map (95 active listings)

Other rents in Terrace

$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 8.05 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 Terrace?

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 $463,000.

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 $807/mo in tax, strata and insurance, so the honest all-in monthly on a $633,000 home is closer to $3,807.

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.
$1,500/mo in Terrace$1,800/mo in Terrace$2,000/mo in Terrace$2,200/mo in Terrace$2,500/mo in Terrace$3,500/mo in Terrace$4,000/mo in TerraceAll rent bands in TerraceTerrace 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.