Interactive Tool · 2026 Edition
Rent vs. Own
What Could You Own for the Same Payment?
Enter your current rent and see the purchase price that produces comparable monthly costs — including mortgage, taxes, and insurance. Then see what five years of ownership builds versus five years of rent receipts.
The Question Every Renter Asks — Answered with Math
Across York Region, monthly rents vary widely by unit type, building age, and timing. Most renters assume ownership is dramatically more expensive. In many cases, they're wrong — especially at today's rates and price levels. The only way to know is to run the numbers for your situation, which is exactly what this tool does.
The critical difference isn't the monthly cost. It's where the money goes. Rent builds your landlord's equity. A mortgage payment splits between interest (which is a cost) and principal repayment (which is forced savings you keep). After five years of ownership at current prices, the equity position versus renting can be significant — even assuming zero price appreciation.
This tool shows you the comparison transparently, including transaction costs most calculators ignore. If ownership doesn't make sense for your situation right now, the math will tell you that too.
Most Ontario rentals charge hydro, internet, and often gas on top of rent. This levels the comparison with ownership costs like heating.
Ontario guideline increase for 2025 was 2.5%. Market units without rent control may increase more.
Rule of thumb: 30-year amortization is typically available on many insured mortgages (less than 20% down, under $1M). Rules vary by lender and policy updates.
Default is set low ($200). Many owners budget closer to ~1% per year depending on age/condition.
Includes land transfer tax, legal fees, title insurance, inspection, and moving costs.
Models selling at end of Year 5. Most owners keep the home longer, but this shows the worst-case scenario.
Default is 3% — a moderate long-term assumption for Ontario real estate. Set to 0% for the most conservative comparison.
If you didn't buy, what could your down payment earn in a GIC or balanced portfolio? This is the opportunity cost of buying.
If renting is cheaper month-to-month, this assumes the renter invests the difference at the same return rate above. Gives renting its best possible case.
Key insight: Your rent rises every year. A fixed-rate mortgage stays the same. By year 5, the monthly gap between renting and owning typically narrows or reverses — while you've been building equity the entire time.
Note: This comparison does not include the value of first-time buyer programs. FHSA ($40K per person) and HBP ($60K per person) reduce the savings required and lower your mortgage — further improving the ownership math. See the full program breakdown →
Want to see how these numbers work with your specific income, debts, and savings? I'll connect you with a mortgage broker within 24 hours.
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If You're Paying This Rent — Here's What You Could Own
Approximate break-even purchase prices where total ownership costs are comparable to renting. Based on 10% down, 4.5% rate, 30-year amortization. Actual results depend on your circumstances.
Break-even estimates include mortgage P&I, property tax (~$350–$450/mo), insurance ($125/mo), heating ($150/mo), and maintenance reserve ($200/mo). CMHC insurance included. These are approximations — use the calculator above for your specific scenario.
Ready to See Your Real Numbers?
This tool gives you the framework. A 30-minute conversation with me and a mortgage broker gives you the precise picture — what you qualify for, what programs apply, and what your best next move looks like. No pressure, no obligation.
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