Frequently Asked Questions

RSS

Is It Cheaper to Buy or Rent in Edmonton in 2025?

Is It Cheaper to Buy or Rent in Edmonton in 2025?

Introduction: The Big Question for 2025

If you’re in Edmonton and planning your next move, you’ve probably asked yourself: “Should I buy or rent in 2025?” It’s an important decision. Home prices, rental costs, and interest rates are changing, and what’s right for one person may not be right for another.

As a trusted Edmonton real estate service, we’ll help you compare both options so you can make the choice that fits your lifestyle and budget.

Buying a Home in Edmonton

Owning a home is still one of the best ways to build wealth in Canada, and Edmonton remains more affordable than cities like Toronto or Vancouver.

Why Buying Can Be a Good Choice

  • Build equity: Every mortgage payment brings you closer to full ownership.

  • Stable costs: No surprise rent hikes.

  • Freedom to customize: Paint, renovate, or expand however you like.

  • Investment value: Areas with strong demand, like Millwoods homes for sale, usually hold their value well.

Things to Keep in Mind

  • You’ll need money upfront for a down payment and closing costs.

  • Homeowners are responsible for repairs and maintenance.

  • Market values can go up or down.

Renting a Home in Edmonton

For many, renting is the easier choice, especially if you’re not ready for long-term responsibility.

Why Renting Might Work for You

  • Lower upfront cost: Only first month’s rent and a security deposit.

  • Flexibility: Easier to move for work, school, or lifestyle.

  • No repair bills: Landlords take care of maintenance.

Edmonton’s Rental Market in 2025

Demand for rental units is strong, and places like Rockhill Apartments remain popular. That means rent has gone up in many areas. While Edmonton rentals are still cheaper than in bigger cities, the rising costs make some people consider buying instead.

And it’s not just Edmonton—other areas across Canada, like apartments for rent in Brampton, are showing similar trends.

Buying vs. Renting: Cost Comparison

Here’s a simple side-by-side look at what you might expect:

Category

Buying a Home

Renting an Apartment

Upfront Costs

Down payment + closing fees

First month’s rent + deposit

Monthly Costs

Mortgage + insurance + utilities

Rent + utilities

Long-Term Value

Builds equity, potential appreciation

No equity build-up

Flexibility

Harder to move quickly

Easy to relocate

In short: If you plan to stay in Edmonton for 5+ years, buying usually makes more sense. If you need flexibility, renting may be better.

When Renting Makes More Sense

  • You’re not sure how long you’ll live in Edmonton.

  • You’re still saving for a down payment.

  • You want the convenience of apartment living, like in Rockhill Apartments.

  • You want freedom to move without selling a property.

When Buying Makes More Sense

  • You want stability and a place of your own.

  • You plan to live in Edmonton long-term.

  • You want to build wealth through home equity.

  • You’re interested in neighborhoods with strong value, like Millwoods homes for sale.

Should You Sell or Rent Out Your Home?

If you already own property, your question might be: “Should I sell my home in Edmonton or rent it out?”

With rental demand growing, some homeowners are keeping their houses as rental properties. Others are selling to move into different neighborhoods or to upgrade. The right choice depends on your personal goals and finances.

FAQs: Buying vs. Renting in Edmonton

1. Is it cheaper to buy or rent in Edmonton in 2025?
Buying is usually cheaper if you stay long-term. Renting can be cheaper for short-term living.

2. What’s the average rent in Edmonton now?
It depends on the location and type of home. Apartments like Rockhill Apartments are in high demand, so rents are higher than in past years.

3. Are there incentives for first-time buyers in 2025?
Yes, there are still government programs that help with down payments and taxes.

4. Is Millwoods still a good place to buy?
Yes, Millwoods homes for sale are popular with families because of schools, parks, and affordability.

5. Should I sell my home in Edmonton right now?
It depends on your goals. If you’re upgrading or relocating, selling makes sense. If you want steady rental income, renting it out may be smarter.

Conclusion: What’s Best for You?

There’s no one-size-fits-all answer to whether buying or renting is cheaper in 2025. It depends on your plans, finances, and lifestyle. Renting offers flexibility, while buying gives stability and long-term value.

If you’re ready to explore Millwoods homes for sale, thinking about moving into Rockhill Apartments, or wondering whether it’s time to sell my home in Edmonton, our team at Edmonton Property Finders can guide you.

Visit Edmonton Property Finders today to see current listings and get expert advice for your next move.


Data last updated on October 7, 2025 at 01:30 AM (UTC).
Copyright 2025 by the REALTORS® Association of Edmonton. All Rights Reserved.
Data is deemed reliable but is not guaranteed accurate by the REALTORS® Association of Edmonton.
The trademarks REALTOR®, REALTORS® and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by CREA and identify the quality of services provided by real estate professionals who are members of CREA.