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How does renting a townhome compare to buying the same townhome in Edmonton?

Quick Answer

Short answer: Renting a 3-bed rowhouse averages $1,925; owning one (20% down) costs ≈$1,995 after condo fee—but ownership captures equity & appreciation.

Detailed Explanation

Townhome rent. Rentals.ca shows median rent for a three-bedroom row/townhome in Edmonton at $1,925 as of Q4 2024. Vacancy is 2.1%—below balanced levels.

Townhome price. RAE's 2024 benchmark for a 1,300 sq ft rowhouse is $265,000. With 20% down ($53,000) and a 4.55% five-year fixed, the mortgage payment is $1,197. Add condo fee ($310), tax ($210) and insurance ($55) for $1,772 total.

Rent: $1,925/month (includes most utilities)
Own: $1,772/month + utilities ($125) = $1,897
Ownership advantage: $28/month plus equity
Annual equity build: $3,200 in year one

Condo considerations. Townhome ownership includes shared maintenance, snow removal, and landscaping through condo fees. Special assessments (roof, siding) average $2,500 every 8-10 years.

Disclaimers: Condo fees and special assessments vary by complex. Market conditions affect both rental and purchase prices. Professional advice recommended.

Disclaimer: This page is for general information only and does not constitute legal, financial, or real estate advice. Always verify details with a licensed Alberta REALTOR®, mortgage professional, or lawyer before making decisions. Buy in Edmonton assumes no liability for actions taken based on this content.

Tim Grover, RE/MAX Excellence • 780-288-5144 • 5607 199 Street NW, Edmonton, AB

How does renting a townhome compare to buying the same townhome in Edmonton?

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