Here's how rent costs in Edmonton compare to a down payment

The cost of rent in Edmonton may be one of the lowest for a major city in Canada; however, if homeownership is your end goal, here’s how it stacks up against a down payment.

Zoocasa calculated the total rent using Rent.ca’s average one-bedroom rental prices from 2020 to 2025. The total sum was then compared to the down payment a February 2025 homebuyer would need to purchase the average-priced home in each city that was looked at.

If you are just embarking on your journey towards homeownership, the results of the Zoocasa report should be welcome news to you while you try and save up for that down payment.

Out of the 16 major cities, Edmonton came in 14th place, with the five years of rent being able to cover three down payments. That’s right — you could be able to save up enough money to make down payments on three different homes over that time frame, or be able to make a more substantial down payment, which would reduce overall costs of home ownership in the long run.

Vancouver and Toronto led the country with residents there spending far more than the total sum of five years for rent compared to a minimum down payment. In Toronto, five years of rent is 69 per cent higher than the minimum down payment for a home. In Vancouver, renters pay 41 per cent more than they’d need for a down payment.

Zoocasa

Our pals down in Calgary have it a little bit tougher, with five years of rent in YYC amounting to nearly $83,000 — about 16.34 per cent of a home’s value.

Check out the full report online.