Where buying is cheaper than renting in Canada in 2026
Zoocasa’s 2026 price-to-rent analysis finds buying is cheaper than renting in only a few cities, with Regina and Winnipeg offering the clearest monthly savings.
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By Torontoer Staff
Zoocasa’s 2026 price-to-rent analysis shows that, in most Canadian markets, renting still costs less month to month. There are a few exceptions where a mortgage payment is currently lower than average rent, and those pockets may matter for first-time buyers weighing monthly budgets.
The report compares average home prices to estimated monthly mortgage payments, then contrasts those figures with average rents. The findings identify Regina and Winnipeg as the only major cities where buying delivers immediate monthly savings, while Edmonton sits close behind.
Cities where buying saves you money
Regina and Winnipeg stand out in Zoocasa’s analysis as places where ownership can cost less per month than renting. The differences are not huge, but they are consistent enough to affect a household budget.
- Regina: Average home price $330,900, estimated monthly mortgage $1,377, average rent $1,497. Monthly saving if you buy: $120.
- Winnipeg: Average home price $378,300, estimated monthly mortgage $1,574, average rent $1,666. Monthly saving if you buy: $92.
In Regina, a monthly mortgage payment is $120 less than the average rent, while in Winnipeg, homeowners pay $92 less than their renting counterparts.
Zoocasa report
Edmonton is a meaningful near-miss. According to Zoocasa, renting remains marginally cheaper there, but the gap is small. The report says the $85 monthly difference makes moving from renting to owning relatively accessible for many prospective buyers in that market.
Where renting is still the cheaper monthly option
Outside those prairie examples, renting tends to be the more affordable monthly choice. The gap between rent and mortgage widens in larger urban markets, and in Southern Ontario and parts of British Columbia the difference is substantial.
- Ottawa, Montreal and Calgary: Renters can save roughly $400 to $450 per month.
- Waterloo and Hamilton: Rental savings approach $1,000 per month.
- Greater Toronto Area: Renters save about $1,957 per month versus buyers.
- Vancouver and parts of British Columbia: Renting can save more than $2,000 per month.
These figures reflect monthly payments only. They do not capture upfront costs of buying, such as down payments, closing fees, land transfer taxes, or ongoing owner expenses like property taxes, insurance and maintenance. That wider cost picture changes the long-term comparison.
How to use the data if you are considering buying
If monthly cash flow is your priority, markets where buying is cheaper may look attractive, but monthly parity alone should not drive the decision. Factor in how long you plan to stay in a home, whether you can cover a down payment and closing costs, and how comfortable you are managing repairs and property taxes.
Interest rates and mortgage terms can change the monthly math quickly. Consider getting pre-approved and run scenarios with different down payments and amortization periods to see how sensitive your monthly payment is to those variables.
Other affordability signals
Zoocasa’s work aligns with other rankings that highlight Winnipeg’s lower cost of living. For example, Tangerine recently named Winnipeg among the best cities for low cost of living, a point that supports the broader affordability picture in that market.
Still, market conditions can shift. Price corrections, supply changes and interest rate moves all affect whether buying or renting is the smarter monthly choice. Local market knowledge, professional mortgage advice and a clear sense of your time horizon are essential.
If you are weighing the rent versus buy decision, use these findings as an input rather than a verdict. Monthly savings in Regina and Winnipeg may tilt the balance for some households, while for many urban residents renting will remain the more affordable option for the near term.
housingrentinghomebuyingaffordabilityZoocasa
