Winnipeg 
It will come as no surprise to most Canadians to find Zoocasa’s research indicates that in the majority of Canada’s housing markets, renting is typically more cost-effective than owning a home.
Zoocasa
The study was based on rental prices and mortgage payments in Canada to determine the affordability of renting versus owning a home.
The website analyzed data for 21 markets across Canada and compared the monthly rental prices and monthly mortgage payments for the average home in each market. The analysis did not include additional costs such as utilities or property taxes.
Rental prices were sourced from Rentals.ca, while monthly mortgage payments were calculated by assuming a 20% down payment at a mortgage rate of 4.69% amortized over 30 years on the average-priced home.
The study found that renting is more affordable than owning a home in most of the markets analyzed. Only two markets, Winnipeg and Quebec City, had mortgage payments that were less expensive than the average rent.
Zoocasa
The cities with the most expensive home prices, such as Vancouver, Toronto, Oakville-Milton, and Mississauga, had the biggest price difference between rent prices and mortgage payments.
Mississauga had the most affordable rental prices at $2,395 per month, while Oakville-Milton had the largest difference between rent and mortgage payments at $2,626.
Regina had the cheapest rental prices, but this is expected as it is also the most affordable market in terms of housing prices.
ALL THE CALCULATION IS HORRIBLE WRONG, $800K property and mortgage is $3400?? 100% info is misleading
I live in the best and cheapest part of the country. It’s the part you didn’t mention in your Canada article. Stupid. Idiot. Imbecile. Moron!
Canada doesn’t stop at Quebec! The author needs to take a geography course!! Thanks/no thanks for providing zero information for us on the entire east coast. Another astounding story brought to you from the people who only care what happens to the crappy side of Canada..
This means nothing to 3 provinces that you completely ignored… why does the author think we aren’t worthy to have the same information you provide to the rest of the country? Are you racist against people in the east ? Do you think we’re so poor on poogey we can’t afford to read your crappy article? Your website should be called To do on the crappy side of Canada!
When I got married 54 years ago, I had no money. But my dad insisted I buy a house. Cost- $8700.00. Since then we have moved a number of times and always upgraded a little. Today my house is worth $1M. How. Appreciation. Thanks dad.
Why do you never look at Atlantic Canada? It is the best place in Canada
To the person who said that Canadians cant afford a house, and he can its also cause who has 20% down payment, only immigrants do, cause they bring money from their own country here oe have 4,5,6,7,8, even up to 10 people living under one roof to pay for the house.
Also in 2013 real estate was a whole lot cheaper then in 2023.
Wages have not gone up to match the rising cost of a house, same for other living expenses, so think before you say oh Canadians say they cant afford a house and as an immigrant you did. Think, prices are so high because of demand from immigrants and therefore people who do have homes have sold and bought and so on moving the prices up, up and up to the point of cant afford them these days.
As an immigrant, arriving in 2010 and buying in 2013, I want to know why “Canadians” says they cannot buy an affordable house ? Btw, yeah I still have a mortgage, even I can put some RRSP
Does the “value” of the 20% down payment not get factored into a comparison like this?
The average priced home in a market vs the asking list price of what type of home in the same market.
Quick job
Editing by a friend
Published by another friend
Ahh yes mortgage payment – the only expense to consider when purchasing a home.
It’s a human travesty, a young couple will never own their on home. They robbed us, vast majority of Canadians rent. Unaffordable, out of reach, now it only rich privileged people. Forget about working hard and earning enough.