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Rent Vs Own  
Rent vs. Own

Rent vs. Own Calculator

THE HIGH COST OF RENTING

CAN YOU AFFORD IT

(based on 4% rental increase per year)

Monthly Rental

$900 $1000 $1,200 $1,400

$1,600

$1,800

$2,000

1st year

$10,800 $12,00 $14,400 $16,800 $19,200 $21,600 $24,000
2nd year $22,032 $24,480 $29,376 $34,272 $39,168 $44,064 $48,960
3rd year $33,713 $37,459 $44,951 $52,443 $49,935 $67,427 $74,918
4th year $45,862 $50,958 $61,149 $71,341 $81,532 $91,724 $101,915
5th year $58,496 $64,996 $77,995 $90,994 $103,993 $116,993 $129,992
6th year $71,636 $79,596 $95,515 $111,434 $127,353 $143,272 $159,191
7th year $85,302 $94,780 $113,735 $132,691 $151,647 $170,603 $189,559
8th year $99,514 $110,571 $132,685 $154,799 $176,913 $199,027 $221,141
9th year $114,294 $126,994 $152,392 $177,791 $203,190 $228,588 $253,987
10th year $129,666 $144,073 $172,888 $201,703 $230,517 $259,332 $288,147
TOTAL $129,666 $144,073 $172,888 $201,703 $230,517 $259,332 $288,147
 

Why Are you Still Renting?

What your rent will buy

Monthly Rent Payment Monthly Mortgage Payment Including Taxes Mortgage Amount Including CMHC Fee 5% Down Payment Purchase Price Income Required
$700 $701 $101,030 $5,150 $103,300 $29,087
$800 $799 $115,253 $5,875 $117,500 $32,788
$900 $901 $129,966 $6,625 $132,500 $36,612
$1000 $1000 $144,189 $7,350 $147,000 $40,311
$1,100 $1,102 $158,902 $8,100 $162,000 $44,137
$1,200 $1,201 $173,124 $8,825 $176,500 $47,836
$1,300 $1,299 $187,347 $9,550 $191,000 $51,535
$1,400 $1,401 $202,060 $10,300 $206,000 $55,361
$1,500 $1,500 $216,283 $11,025 $220,500 $59,060
$1,600 $1,599 $230,506 $11,750 $235,000 $62,759
$1,700 $1,701 $245,219 $12,500 $250,000 $66,585
$1,800 $1,799 $259,441 $13,225 $264,500 $70,284
$1,900 $1,901 $274,155 $13,975 $279,500 $74,111
$2,000 $2,000 $288,377 $14,700 $294,000 $77,810
$2,100 $2,102 $303,090 $15,450 $309,000 $81,636
$2,200 $2,201 $317,313 $16,175 $323,500 $85,335

Based on an interest rate of 5.10% (Subject to change without notice)

Annual taxes are assumed to be 1.25% of the purchase price per year (maintenance fees are not included)




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