Updated for 2026 housing and mortgage trends

If you’re renting in Ontario right now, you’ve probably asked yourself:
“Should I keep renting, or is it finally time to buy?”

The truth is, there’s no one-size-fits-all answer. But understanding the numbers, the lifestyle trade-offs, and where the Ontario market stands in early 2026 can help you make a smart decision.

Let’s break it down.

📊 The Cost of Renting in 2026

Rental prices across Ontario have continued to rise modestly, especially in cities with low housing inventory and high immigration. As of January 2026:

• A 1-bedroom apartment in mid-sized cities like London or Kitchener: $1,800–$2,100/month

• A 2-bedroom unit in St. Thomas or Guelph: $2,300–$2,700/month

• A 3-bedroom home in suburbs or small towns: $2,800–$3,200/month

That means many renters are spending between $30,000–$40,000 a year on housing—with none of that going toward equity.

🏡 The Cost of Buying in 2026

Let’s say you're looking at a home priced at $550,000 in Elgin County, Middlesex, or Oxford—still realistic in many areas. With 5% down and current mortgage rates hovering around 5.2%, your monthly mortgage payment would be roughly:

• $3,200/month (including property tax and basic utilities)

• Total yearly cost: $38,000–$42,000

However, unlike rent, part of this payment goes toward:

• Building equity in a home you own

• Appreciation (long-term growth of your asset)

• Potential tax-free gains if it’s your principal residence

🧮 Rent vs. Buy: What Makes More Sense?

👉 Buying might make sense if:

• You have a stable income and plan to stay in one place for 3–5 years

• You want to build equity and stop paying someone else’s mortgage

• You qualify for first-time buyer incentives or gifted down payments

👉 Renting might make sense if:

• You’re uncertain about your job, relationship, or location

• You have debt or poor credit that would make ownership risky

• You’d prefer flexibility over long-term commitment

🤔 So... What Should You Do?

Here's the truth: renting isn’t “throwing money away,” and owning a home isn’t always the smartest financial move.
But if you’re renting AND saving nothing, buying could be your way to finally start building real wealth.

If you’re curious where you stand, I’ll run the numbers for your specific situation. No pressure, no sales pitch—just a real breakdown of your options.

📩 Reach out for a free Rent vs. Buy analysis customized for your city, your income, and your future goals.

Neighborhood Guide: London, Ontario

London, Ontario, is a vibrant city with a diverse range of neighborhoods, each offering its unique charm and character. If you're considering a move to London, or if you're already a resident looking to explore new areas, this neighborhood guide will help you discover the local amenities, schools, parks, and housing options in some of the city's most popular neighborhoods.

**1. Old North

Local Amenities: Old North is known for its tree-lined streets, historic homes, and proximity to downtown. Residents can enjoy boutique shops, cafes, and restaurants along Richmond Street. The Grand Theatre and Museum London are also nearby.

Schools: It's home to top-rated public and private schools, including Ryerson Public School and Central Secondary School.

Parks:* Gibbons Park offers scenic walking trails along the Thames River, making it a favorite spot for outdoor enthusiasts.

Housing Options:* Old North features a mix of historic Victorian and Edwardian homes, along with some newer developments. Housing here ranges from stately mansions to cozy family homes.

**2. Byron

Local Amenities: Byron boasts a relaxed suburban feel with plenty of local shops and restaurants. Boler Mountain provides skiing and snowboarding in the winter and hiking trails in the summer.

Schools:* There are several excellent public and Catholic schools in Byron, such as Byron Somerset Public School and St. George Catholic School.

Parks:* The Springbank Park is a sprawling green space along the Thames River, perfect for picnics, cycling, and fishing.

Housing Options:* Housing options in Byron include spacious family homes, modern condos, and townhouses. The area is known for its larger lots and mature trees.

**3. Masonville

Local Amenities:* Masonville is home to the popular Masonville Place Mall, offering shopping, dining, and entertainment options. You'll also find a wide range of restaurants and cafes in this area.

Schools:* The neighborhood is served by excellent schools, including Masonville Public School and A.B. Lucas Secondary School.

Parks:* Jack Chambers Memorial Park and Medway Valley Heritage Forest offer ample green spaces and walking trails.

Housing Options:* Masonville offers a mix of single-family homes, condos, and townhouses. It's a sought-after area for families and professionals.

**4. Old South

Local Amenities:* Old South is known for its historic homes and a vibrant arts and culture scene. Wortley Village is a hub of local shops, cafes, and galleries.

Schools:* There are several schools in the area, including Wortley Road Public School and South Collegiate Institute.

Parks:* Thames Park offers sports fields, a community pool, and playgrounds.

Housing Options:* Old South features charming heritage homes, Victorian-style properties, and townhouses. It's a neighborhood filled with character and history.

**5. White Oaks

Local Amenities:* White Oaks is a family-friendly neighborhood with shopping centers like White Oaks Mall and South London Community Centre offering recreational facilities.

Schools:* It's served by White Oaks Public School and Westminster Secondary School.

Parks:* White Oaks Park has sports fields, a splash pad, and picnic areas.

Housing Options:* You'll find a mix of single-family homes and townhouses in White Oaks, making it an affordable choice for families.

These are just a few of the neighborhoods that make London, Ontario, a wonderful place to live. Each neighborhood offers its unique lifestyle and amenities, catering to the diverse preferences of residents. Whether you're seeking historic charm, suburban tranquility, or modern convenience, London has a neighborhood that's perfect for you. Explore further to find your ideal home in this thriving Canadian city.