Toronto real estate planning

Free Toronto Rent vs Buy Calculator

Compare a Toronto renting scenario with a home-buying scenario. See the mortgage, ownership costs, Ontario and Toronto land transfer tax, and estimated equity on one clear page.

Free to useToronto assumptionsNo account

Toronto skyline and waterfront at sunset — Toronto waterfront photo: David Kovalenko / Unsplash

Toronto scenario

Compare your housing choices

Toronto home price The price you are considering.$Available down payment Cash you expect to put toward the purchase, before closing costs.$Mortgage interest rate Your expected annual mortgage rate.%Amortization Used for the mortgage-payment estimate.Monthly rent today Your current or expected monthly rent.$Annual rent growth The rent increase you want to model each year.%Annual Toronto property tax Annual residential property-tax estimate. The example uses Toronto’s 2026 residential rate as a guide.$Monthly condo fees Monthly condo maintenance fees, if any.$Annual home-price growth A planning assumption for the home’s value. It is not a prediction.%Comparison period Keep the same period for both scenarios.Apply first-time buyer land-transfer-tax rebates
Uses up to $4,000 Ontario and $4,475 Toronto rebate amounts. Confirm eligibility before relying on the estimate.

How the comparison works

Renting cash versus buying equity

The rent side adds the monthly rent over your selected period, with your chosen annual rent-growth assumption. The buy side includes the down payment, mortgage payments, annual property tax, condo fees and land transfer tax. It then estimates equity from the home value less the remaining mortgage balance and a 5% selling-cost assumption.

This deliberately does not predict the market or decide what you can afford. Change the growth, rate and time-period assumptions to test a conservative scenario before you make a decision.

Toronto rent vs. buy questions

Does buying always cost less than renting?

No. The answer depends on time horizon, mortgage rate, fees, purchase price, rent, and future resale value. A short holding period can make transaction costs particularly important.

Does this include both Toronto and Ontario land transfer tax?

Yes, for a standard purchase estimate. Non-resident speculation taxes, legal fees, title insurance, mortgage insurance and other transaction-specific costs are not included.

Why include a selling-cost assumption?

Equity is only spendable after you sell or borrow against the home. The calculator uses 5% as a transparent planning assumption; change your thinking if your likely selling cost differs.

Can first-time buyers use the rebate?

Eligible buyers may receive separate Ontario and Toronto land-transfer-tax rebates. This tool caps them at the published maximums; eligibility rules still apply.

Sources checked September 2026: City of Toronto Municipal Land Transfer Tax rates and Property Tax Rates & Fees; Government of Ontario Land Transfer Tax guidance. Educational estimate only, not financial, legal or tax advice.