Welcome to the Canada Rent vs. Buy Calculator! This powerful tool is designed to help you navigate one of the biggest financial decisions of your life—whether to rent or buy a home in Canada.
If you want to know how we calculate, scroll below to see more details on this calculator.
Home Purchase Price
▼Annual Costs
▼Rental Costs
▼Total Renting Cost
Net Difference
As you may have noticed, calculator assumes 2% closing costs which is very typical but varies slightly as there are various factors involved. 
If you like to know the details, we recommend that you check out our closing cost calculator.
How the Calculator Works
Our Canada Rent vs. Buy Calculator is designed to give you a clear, data-driven picture of the long-term financial implications of renting versus buying a home. Here’s how it functions:
Key Inputs
- Purchase Details: Enter the home’s purchase price, your down payment percentage, interest rate, and amortization period.
- Additional Costs: Input your property tax, insurance, maintenance fees, closing costs, and land transfer tax.
- Property Value Growth: Factor in expected property appreciation over time.
- Monthly Rent: Provide your current rent and the expected annual increase to see how costs accumulate.
What It Calculates
It determines your initial cash outlay—including down payment, closing costs, and land transfer tax—and estimates your mortgage payments over time, highlighting how much principal you build.
The tool factors in ongoing expenses such as property tax, insurance, and maintenance (for buyers) alongside property value growth.
It aggregates your renting expenses over your chosen comparison period, reflecting expected rent hikes.
The calculator pinpoints the estimated “break-even” point—the number of years you’d need to remain in a home for the costs of buying to undercut those of renting.
A dynamic chart displays cumulative costs side-by-side, making it easier for you to visualize which option may be more advantageous based on your inputs.
Deciding between renting and buying is one of the biggest financial decisions you’ll ever make.
Our rent vs buy calculator is here to demystify that choice by offering a tailored, side-by-side financial comparison based on your personal situation and future plans.