Calgary Housing Affordability

Calgary Mortgage

In Calgary, a single-family house ownership costs take up 36.8% of a typical household’s pre-tax income. In the 2nd quarter, housing affordability eased slightly in Calgary.

Calgary Housing Affordability
Type Price Affordability*
Single-family detached $524,000 36.8%
Condominium apartment $291,500 22%
Source: RBC. Q3 2016

* 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.

 

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