Housing Affordability in Canada (June 2024)
Vancouver home buyers must earn over $230K/year
House affordability in major Canadian cities
| HOUSING AFFORDABILITY REPORT: JUNE 2024 | ||
| CITY | AVERAGE HOME PRICE | INCOME REQUIRED |
| CALGARY | $589,000 | $120,670 |
| EDMONTON | $401,100 | $86,920 |
| HALIFAX | $548,800 | $113,450 |
| MONTREAL | $537,700 | $111,460 |
| OTTAWA | $647,700 | $131,210 |
| TORONTO | $1,110,600 | $214,360 |
| VANCOUVER | $1,207,100 | $231,700 |
| WINNIPEG | $362,700 | $80,020 |
| Source: Ratehub.ca 2024 | ||
NOTE: Estimates are based on a mortgage with 20% down payment, 25-year amortization,
$4,000 annual property taxes and $150 monthly heating.
