$2,124

That is how much cheaper it is to rent than own in Toronto.
Every. Single. Month.

Not over a lifetime. Not including surprise
maintenance costs or property taxes on top.
Just the monthly mortgage payment vs. the
monthly rent cheque.

Two thousand one hundred and twenty four dollars.
Every month. That is $25,488 every year.

So why does every Canadian — especially every
newcomer — still dream of owning?

The answer is more complicated than the number
suggests. And the data tells a very different
story depending on which city you are in.

Canada is not one housing market.
It is five completely different ones
wearing the same name.

The national headline number — average home
price $652,941 — tells you almost nothing
useful about your actual situation. What
matters is your city. And right now, your
city determines everything.

In Toronto and Vancouver, the math is
brutal. Owning costs $1,446 to $2,124 more
every single month than renting an
equivalent unit. That is not a small
difference. That is a second rent payment
on top of your first one.