In Ontario, most homeowners rent a water heater, but in Alberta virtually nobody does.
It’s hard to explain the difference other than habit. Whether one or the other is a better deal depends on how you look at it. In straight cost terms, over time buying is a better deal. When you factor in convenience and hassle-free service for many people renting may be worth the extra cost.
The cost of renting in Ontario is between $13 and $26 a month from Direct Energy or Reliance Home Comfort depending on the size of the heater. You don’t have to worry about maintenance or replacement. When you buy you’re on the hook for any issues that arise after the warranty expires.