Montreal Housing Affordability

Montreal Mortgage

In Montreal, a single-family house ownership costs take up 42.7% of a typical household’s pre-tax income. In Montreal, affordability levels not budging much.

Montreal Housing Affordability
Type Price Affordability*
Single-family detached $381,500 42.7%
Condominium apartment $321,900 34.2%
Source: RBC. Q2 2017

*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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