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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/Vernon/$1,500/mo

Rent vs mortgage

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

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 $205,000. Here are the 132 Vernon homes on the market at or under it right now.

Purchase price

$316,000

Down payment

$63,000

All-in monthly

$2,029/mo

Matching homes

132

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

132 Vernon 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$529/mo
All-in monthly$2,029/mo

Vernon homes your $1,500 rent could own

#211 – 4305 Bellevue Drive
Under your rent
23

$289,900

~$1,374/mo

i

#211 – 4305 Bellevue Drive

Vernon · Residential

2 bd

2 ba

797 sqft

$364/sqft

Built 1994

MLS® 10387125

View

Royal LePage Downtown Realty

#26 – 12560 Westside Road
Under your rent
44

$295,000

~$1,398/mo

i

#26 – 12560 Westside Road

Vernon · Residential

2 bd

2 ba

924 sqft

$319/sqft

Built 1997

MLS® 10397653

View

Canada Flex Realty Group

#14B – 272 Chicopee Road
Under your rent
82

$155,000

~$735/mo

i

#14B – 272 Chicopee Road

Vernon · Residential

3 bd

3 ba

1,389 sqft

$112/sqft

Built 2001

MLS® 10374500

View

Rockridge Real Estate Company

#14A – 272 Chicopee Road
Under your rent

$150,000

~$711/mo

i

#14A – 272 Chicopee Road

Vernon · Residential

3 bd

3 ba

1,524 sqft

$98/sqft

Built 2001

MLS® 10395352

View

Coldwell Banker Executives Realty

#209 – 3608 27 Avenue
Under your rent
77

$249,900

~$1,184/mo

i

#209 – 3608 27 Avenue

Vernon · Residential

2 bd

1 ba

1,098 sqft

$228/sqft

Built 1982

MLS® 10397301

View

RE/MAX Vernon

#204 – 1041 Middleton Way
Under your rent
39

$314,900

~$1,493/mo

i

#204 – 1041 Middleton Way

Vernon · Residential

2 bd

1 ba

810 sqft

$389/sqft

Built 1991

MLS® 10398336

View

RE/MAX Vernon

9-12069 Westside Road
Under your rent
51

$217,500

~$1,031/mo

i

9-12069 Westside Road

Vernon · Residential

2 bd

2 ba

1,775 sqft

$123/sqft

Built 1979

MLS® 10393001

View

Century 21 Assurance Realty Ltd

#36 – 3413 Okanagan Avenue
Under your rent
27

$259,000

~$1,228/mo

i

#36 – 3413 Okanagan Avenue

Vernon · Residential

2 bd

1 ba

771 sqft

$336/sqft

Built 1982

MLS® 10398056

View

RE/MAX Vernon

#303 – 2555 Lakeshore Road
Under your rent
37

$249,000

~$1,180/mo

i

#303 – 2555 Lakeshore Road

Vernon · Residential

0 bd

1 ba

306 sqft

$814/sqft

Built 2021

MLS® 10392073

View

RE/MAX Vernon Salt Fowler

#420 – 3901 32 Avenue
Under your rent
32

$279,000

~$1,322/mo

i

#420 – 3901 32 Avenue

Vernon · Residential

2 bd

1 ba

862 sqft

$324/sqft

Built 1982

MLS® 10392012

View

Real Broker B.C. Ltd

#39 – 6902 Okanagan Landing Road
Under your rent
29

$124,900

~$592/mo

i

#39 – 6902 Okanagan Landing Road

Vernon · Residential

2 bd

1 ba

848 sqft

$147/sqft

Built 1976

MLS® 10397719

View

eXp Realty (Kelowna)

#207C – 12204 Westside Road
Under your rent
29

$238,800

~$1,132/mo

i

#207C – 12204 Westside Road

Vernon · Residential

1 bd

1 ba

588 sqft

$406/sqft

Built 2026

MLS® 10391236

View

REMAX Kelowna

See all on the map (132 active listings)

Other rents in Vernon

$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 5.57 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 Vernon?

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 $205,000.

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 $529/mo in tax, strata and insurance, so the honest all-in monthly on a $316,000 home is closer to $2,029.

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 Vernon$2,000/mo in Vernon$2,200/mo in Vernon$2,500/mo in Vernon$3,000/mo in Vernon$3,500/mo in Vernon$4,000/mo in VernonAll rent bands in VernonVernon 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.