Calgary Housing Affordability

How much house can you afford in Calgary?

Calgary Mortgage

In Calgary, a single-family house¬†ownership costs take up 47.4% of a typical household’s pre-tax income.

Calgary Housing Affordability
Type Price Affordability*
Q4 2017
Single-family detached $548,700 46.2%
Condominium apartment $289,600 26.4%
Q1 2018
Single-family detached $558,900 47.4%
Condominium apartment $289,400 26.7%
Q2 2018
Single-family detached
Condominium apartment
Q3 2018
Single-family detached
Condominium apartment
Source: RBC

* The RBC Housing Affordability Measures show the proportion of median pre-tax household income that would be required to service the cost of mortgage payments (principal and interest), property taxes, and utilities based on the median market price for single-family detached homes and condo apartments. The higher the measure, the more difficult it is to afford a home.

The affordability measures are based on a 25% down payment, a 25-year mortgage loan at a five-year fixed rate, and are estimated on a quarterly basis for 14 major urban markets in Canada and a national composite.

You may also like...

Leave a Reply