Cheaper to Own than Rent in Edmonton

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The Edmonton real estate market has an abundance of condominiums available for purchase. Move-up sellers and investors scramble to adjust the price of their units to stay competitive and attract potential buyers.  Buyers have an ideal situation to get into a unit of their own and start building equity. Although the rental vacancy rate has risen to 4.2% with many landlords offering incentives to secure GOOD tenants, you may find it surprising that it is cheaper in Edmonton to be paying a mortgage rather than rent. Consider this graph showing the major city centers compering the rent versus own monthly payment. Before you sign that long term rental lease, consider your personal goals for the next couple of years.cost to rent or buy