Market Trends

How much does renting versus owning cost in Edmonton (2025)?

Quick Answer

Short answer: Renting a 3-bed costs ≈ $1 950–2 050 / mo; owning a comparable home runs ≈ $2 000–2 500 / mo but builds equity after ~4 years.

Detailed Explanation

2025 snapshot. CMHC's Rental Market Survey shows median 3-bed rent at $2 050. REALTORS® Association of Edmonton pegs a typical starter 3-bed detached at $465 000 and a 3-bed townhome at $265 000.

ScenarioUp-front cashMonthly out-go*
Rent 3-bed unit1 mo. deposit + damage deposit = $4 100$2 050
Buy 3-bed detached5% down + closing = $26 750$2 680
Buy 3-bed townhome5% down + closing = $15 850$1 897

Break-even timeline. For detached homes, the $630 monthly premium over rent takes 3.2 years to recover through equity build + tax savings. Townhomes break even immediately due to lower mortgage payments.

Ownership benefits beyond cost. Equity accumulation ($8 500/year typical), renovation freedom, pet ownership, and hedge against rent increases. Detached homes appreciate 4.1% annually (10-year average).

Rental benefits. Mobility, no maintenance costs, predictable monthly expense, and no property tax/insurance responsibility. Ideal for those prioritizing flexibility or building credit.

Disclaimers: Calculations assume 4.55% 5-year fixed rate, 25-year amortization. Property taxes, insurance, and maintenance costs vary by location. Professional mortgage 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

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Last updated: 2025-06-30

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