According to the Saskatchewan REALTORS Association, Saskatoon's benchmark price has trended upward over time, currently $444,700, and a mortgage payment on a 25-year amortization is engineered to pay down the loan balance completely by the end of the term, something no rent payment does no matter how long you pay it.
None of this means renting is a mistake, particularly for someone with a short time horizon or an uncertain next move. It means the comparison has to include the ownership side's equity and appreciation, not just this month's cash outflow, to be a fair one.
Get your hand-reviewed valuation from Joel Dyck.