Is it a better time for buyers or renters?

If I’m being honest, renting feels a little easier right now than buying but buying isn’t a terrible idea either. It really depends on your situation.

Right now, renting has gotten less stressful than it was a year or two ago. There are more rental homes available, and in some cities, rents have stopped going up so fast or even gone down a bit. That means renters have more choice and sometimes more power to negotiate. If I’m not sure where I want to live long-term, or I might move for work or family, renting gives me flexibility and less pressure.

Buying a home has improved, but it’s still a big commitment. House prices are slightly lower than before, and mortgage rates have come down from their peak. That helps buyers. There are also more homes for sale in many areas, so buyers don’t always have to rush or compete as much. But monthly mortgage payments are still expensive, and you really need steady income and a plan to stay put for several years.

So here’s how I’d think about it:

• If I want freedom, fewer surprises, and less risk, renting makes more sense right now.
• If I’m planning to stay in one place for 5 years or more, I have a solid job, and I can afford the payments comfortably, buying can still be a smart move, especially if I negotiate well.

The biggest takeaway for me is this.
Renting has improved faster than buying, but buying can still work if the timing and finances are right. There’s no one right answer for everyone. Where you live, how long you plan to stay, and how stable your income is matter more than headlines.

Here’s a simple “Rent vs Buy” checklist with average monthly rents and average prices for a single-family home in five Canadian cities (based on the latest available 2025–early 2026 data). These figures will help you compare how much you might pay each month to rent versus how expensive it might be to buy.

Rent vs Buy Checklist (Canada – Major Cities)

How to read this checklist

✔ Rent cost is monthly payment you’d likely pay right now if you weren’t buying.
✔ Home price is approximately what you might need to buy a house in that city, not your monthly mortgage payment; mortgage payments vary by interest rate, downpayment, and amortization period.
✔ These numbers give you a quick sense of how much more you’d need to earn to buy versus just rent. Example: Toronto and Vancouver rents are high, but home prices are much higher than rent levels too, so buying is a bigger financial step.

What this means (simple summary)

• Halifax & Montreal: Rent isn’t cheap, but it’s much more affordable than buying a home right now compared with bigger cities.
  • Calgary: Rents are lower and home prices are mid-range; this makes the rent vs buy decision closer than in Toronto or Vancouver.
  • Toronto & Vancouver: Rent is high, but buying is very expensive — you need a lot more income and savings to buy compared with renting.

Quick tips for deciding

Rent might be better if:
• You don’t know how long you’ll stay in a city
• You want flexibility
• You’re building savings for a down payment

Buy might make sense if:
• You plan to stay more than 5 years
• You have a solid down payment and steady income
• You want to build home equity over time