Rent vs Buy in Victoria (2026)
Start with Victoria's numbers: a $553,600 benchmark condo apartment and $2,120 average two-bedroom rent. Change anything. The calculator plays out buying against renting and investing the difference, year by year, with Victoria's property tax, CMHC insurance, British Columbia land transfer tax and selling costs. It tells you who ends up with more, and when.
Where the lines cross is the year buying pulls ahead.
| Month one | Owning | Renting |
|---|---|---|
| Cash out each month | $3,177.82 | $2,145.00 |
| Of that, gone for good (interest, tax, upkeep, fees, or rent) | $2,306.60 | $2,145.00 |
| Cash needed up front (20% down, land transfer tax, legal) | $121,380 | invested instead |
| When you sell in year 10: commission and legal | − $37,226 | — |
| Net worth after 10 years | $390,392 | $362,778 |
If you stay longer or shorter, or prices grow differently
| Stay | Prices 0%/yr | Prices 2%/yr | Prices 3%/yr | Prices 4%/yr | Prices 5%/yr |
|---|---|---|---|---|---|
| 5 yrs | Rent +$86,071 | Rent +$33,176 | Rent +$5,097 | Buy +$24,113 | Buy +$54,489 |
| 10 yrs | Rent +$138,456 | Rent +$32,902 | Buy +$27,614 | Buy +$93,862 | Buy +$166,311 |
| 15 yrs | Rent +$196,268 | Rent +$40,256 | Buy +$56,710 | Buy +$168,691 | Buy +$297,753 |
| 20 yrs | Rent +$260,686 | Rent +$59,242 | Buy +$77,329 | Buy +$244,302 | Buy +$447,681 |
| 25 yrs | Rent +$333,392 | Rent +$95,545 | Buy +$82,178 | Buy +$313,392 | Buy +$612,148 |
Year by year
| Year | Owner cost | Rent | Home value | Mortgage left | Owner net | Renter net |
|---|---|---|---|---|---|---|
| 1 | $38,134 | $25,740 | $570,620 | $432,745 | $109,344 | $141,057 |
| 2 | $38,395 | $26,325 | $587,739 | $421,859 | $136,493 | $161,590 |
| 3 | $38,664 | $26,924 | $605,371 | $410,523 | $164,580 | $183,025 |
| 4 | $38,940 | $27,536 | $623,532 | $398,718 | $193,638 | $205,411 |
| 5 | $39,225 | $28,162 | $642,238 | $386,425 | $223,701 | $228,798 |
| 6 | $39,519 | $28,803 | $661,505 | $373,625 | $254,805 | $253,242 |
| 7 | $39,822 | $29,459 | $681,350 | $360,296 | $286,987 | $278,799 |
| 8 | $40,133 | $30,130 | $701,791 | $346,416 | $320,286 | $305,531 |
| 9 | $40,454 | $30,816 | $722,844 | $331,962 | $354,740 | $333,501 |
| 10 | $40,785 | $31,517 | $744,530 | $316,911 | $390,392 | $362,778 |
Show the math
Owner: mortgage on $443,200 at 4.09% over 25 years. Property tax 0.57% and maintenance 1% of the growing value, plus condo fees and insurance. Land transfer tax $9,080 and legal fees up front. 5% selling costs at the end. Renter: pays rent rising 2.3% a year, invests the owner's up-front cash and, each year, whatever owning would have cost more than renting, at 6% tax-free. Net worth compares home equity after selling costs with the renter's portfolio. Not modelled: capital gains tax on the renter's portfolio at the end (the home is tax-free as a principal residence), utilities differences, and the value of stability or flexibility.
Rent vs buy in Victoria: three horizons
Benchmark condo apartment, 10% down, 4.5% mortgage, 3% price growth, 3% rent growth, 5% investment return, 5% selling costs.
| Stay for | Buyer's net worth | Renter's net worth | Better off |
|---|---|---|---|
| 5 years | $154,826 | $183,016 | Renting by $28,189 |
| 10 years | $331,061 | $316,814 | Buying by $14,247 |
| 25 years | $1,101,955 | $840,814 | Buying by $261,141 |
The answer depends on the assumptions. At 1% price growth over 10 years, renting wins by $101,788. Try your own rent, price and return. The main rent vs buy page explains how the model works and where it falls short.
MLS HPI benchmark for a SINGLE-FAMILY home in the Victoria Core (-0.6% y/y). VREB publishes no composite benchmark. 2026 Class 1 residential total 5.6559 per $1,000 = City general 3.7229 (incl. debt, police) + CRD 0.2411 + school residential 1.1719 + hospitals 0.1223 + BC Assessment 0.0381 + MFA 0.0002 + BC Transit 0.3594. Additional school tax on values over $3M/$4M not included. BC Assessment values are market value as of July 1, 2025.
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Other cities
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If you decide to buy: what to line up first
Three programs change the down payment math and all need paperwork before closing.
Common questions
Frequently asked questions
- Is it cheaper to rent or buy in Victoria?
- Month to month, owning the $553,600 benchmark condo apartment costs about $3,693.01 in year one (mortgage, tax, maintenance, insurance) against $2,120 of rent. Over 10 years, with 3% price growth and the renter investing the difference at 5%, buying comes out ahead by $14,247.
- How long do I need to stay in Victoria for buying to pay off?
- In the default scenario buying pulls ahead in year 9. Under that, land transfer tax, CMHC insurance and selling costs eat the gains.
- What is the average rent in Victoria?
- $2,120 a month for a two-bedroom apartment in CMHC's October 2025 Rental Market Survey, which covers purpose-built rentals. Newer buildings and condos rented by owners are usually higher.
- What does a $553,600 condo apartment cost to carry?
- About $3,693.01 a month in year one: the mortgage on $498,240 plus the CMHC premium at 4.5%, $261 of property tax, 1% of value a year for maintenance and $100 of insurance.
What changed in 2025 and 2026
- Foreign Buyer Rules in Canada to 2027The federal foreign buyer ban runs to January 1, 2027. Ontario's 25% tax, Toronto's 10%, BC's 20% and Nova Scotia's 10% apply either way. Who is exempt.
- The Underused Housing Tax Has EndedNo UHT return or payment is needed for 2025 and later years. Returns for 2022 to 2024 are still owed, with penalties. Who was affected and what to do now.
Sources
Sources
Every figure on this page comes from one of these primary sources. Data last verified .
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