Going by the MLS benchmark, the average house price in Newfoundland and Labrador sat at $355,600 in September 2026, after climbing 5.5% in a year.1 If you plan to buy in the province, start with that figure. It gives you a realistic target before you shop for a mortgage.
A home is likely the biggest purchase you will ever make. Check what homes actually sell for in the town you have in mind, and get your budget in order early so the payment fits. A typical home in this province costs roughly half the average house price in Canada.
Below you'll find the latest figures for the province and for St. John's, what a typical payment looks like, and how to keep your home from swallowing your whole budget.
Key Points
- In September 2026, a typical Newfoundland and Labrador home carried an MLS benchmark of $355,600, a 5.5% rise over September 2025.
- No other province saw a bigger yearly gain, yet Newfoundland and Labrador remains the second cheapest province to buy in.
- St. John's came in at $421,800 after a 6.8% gain, well above the $355,600 provincial figure.
- Put 5% down at a 5% rate, and you'd owe about $2,043 a month on a $355,600 purchase.
- Newfoundland and Labrador has no land transfer tax. You will pay Registry of Deeds fees to record the deed and the mortgage.
What's The Average House Price In Newfoundland In 2026?
A typical house in Newfoundland and Labrador cost $355,600 in September 2026. That's the province's composite benchmark, and it was 5.5% higher than a year earlier.1
Actual sales ran a bit higher. Homes sold across the province in September 2026 averaged $372,633, a 7% jump over the year.1 That average shifts with whichever homes happened to sell. The benchmark sticks to a typical home, so it's the steadier number to plan around.
Back in January 2005, the benchmark was $126,800. It hit a high of $359,300 in July 2026. Today's $355,600 sits about 1% under that high and is roughly 2.8 times the 2005 figure.2
Newfoundland and Labrador Benchmark Home Price, 2005 To 2026
Peak $359,300 in July 2026 | September 2026: $355,600
Source: CREA MLS Home Price Index, Newfoundland and Labrador composite benchmark price, not seasonally adjusted.
Overall, St. John's costs more than the province as a whole, mostly because of its single-family homes. Here is the September 2026 breakdown by property type:
| Area | Property Type | Benchmark Price (September 2026) | 1-Year Change |
|---|---|---|---|
| Newfoundland and Labrador | All homes (composite) | $355,600 | +5.5% |
| Newfoundland and Labrador | Single-family homes | $358,600 | +5.4% |
| Newfoundland and Labrador | Townhouses | $336,200 | +9.0% |
| Newfoundland and Labrador | Apartments and condos | $262,200 | +5.1% |
| St. John's | All homes (composite) | $421,800 | +6.8% |
| St. John's | Single-family homes | $442,300 | +7.0% |
| St. John's | Townhouses | $331,400 | +9.8% |
| St. John's | Apartments and condos | $261,400 | +5.3% |
Source: CREA (September 2026).1 The St. John's composite runs about $66,200 above the provincial one. Townhouses posted the fastest gains in both, at 9.0% for the province and 9.8% in the city.
How Does Newfoundland And Labrador Compare With Other Provinces?
Only New Brunswick is cheaper. A typical home here, at $355,600, comes in about $311,000 under Canada's $666,538 average.1
| Region | Home Price (September 2026) | Year-Over-Year Change |
|---|---|---|
| Canada | $666,538 | -1.6% |
| British Columbia | $923,887 | -2.4% |
| Ontario | $791,691 | -4.3% |
| Quebec | $563,241 | +2.2% |
| Alberta | $525,308 | +5.2% |
| Nova Scotia* | $423,200 | -2.5% |
| Manitoba* | $388,200 | +3.4% |
| Prince Edward Island* | $377,900 | +0.5% |
| Saskatchewan* | $376,700 | +2.8% |
| Newfoundland and Labrador* | $355,600 | +5.5% |
| New Brunswick* | $341,700 | +2.7% |
Source: CREA (September 2026).1 Rows with an asterisk use the MLS HPI benchmark. Canada, BC, Ontario, Quebec and Alberta use average sale prices. Newfoundland and Labrador's 5.5% rise tops the list.
Moving From Ontario To Newfoundland
Homes cost far less here than in Ontario. In September 2026, the average sale price was $372,633 in Newfoundland and Labrador and $791,691 in Ontario, a gap of about $419,000.1 If you sell in Ontario and buy here, the same savings can cover a much bigger share of the price.
How Much Would A Mortgage Cost You Each Month In Newfoundland?
Monthly payments on the $355,600 benchmark home range from about $1,655 to $2,043. Where you land comes down to your down payment. Each row assumes a 5% fixed rate, paid off over 25 years.
Swipe to see all →
| Down Payment | Amount Down | CMHC Insurance Premium | Total Mortgage | Monthly Payment |
|---|---|---|---|---|
| Minimum (5.00%)* | $17,780 | $13,513 (4.00%) | $351,333 | $2,043 |
| 10% | $35,560 | $9,921 (3.10%) | $329,961 | $1,919 |
| 20% | $71,120 | None | $284,480 | $1,655 |
*At $500,000 or under, you need at least 5% down. Here, that works out to $17,780.
These numbers are for illustrative purposes only. Actual numbers may vary.
Below 20% down, lenders require mortgage default insurance. Its premium, $13,513 at 5% down or $9,921 at 10% down on this home, is folded into what you owe. Reaching 20% down, or $71,120, skips the premium and drops your payment by about $388 a month compared with the minimum.
What A Different Rate Does To Your Payment
A 20% down payment leaves a $284,480 loan. Move the rate by half a point and the payment shifts by roughly $80 a month. Over 25 years, the gap between 4% and 6% adds up to about $97,000 in interest.
| Rate | Monthly Payment | Interest Paid Over 25 Years |
|---|---|---|
| 4.0% | $1,496 | $164,447 |
| 4.5% | $1,575 | $187,876 |
| 5.0% | $1,655 | $211,885 |
| 5.5% | $1,736 | $236,453 |
| 6.0% | $1,820 | $261,557 |
These numbers are for illustrative purposes only. Actual numbers may vary.
For a specific listing in St. John's or elsewhere in the province, enter its price in the calculator below.
Mortgage Calculator
| Amortization | Payment | Total interest | Total paid |
|---|---|---|---|
| 15 years | $3,356.62 | $164,191.53 | $604,191.53 |
| 20 years | $2,773.78 | $225,707.84 | $665,707.84 |
| 25 years | $2,435.28 | $290,584.30 | $730,584.30 |
| 30 years | $2,218.55 | $358,677.44 | $798,677.44 |
| Year | Principal paid | Interest paid | Balance left |
|---|---|---|---|
| Year 1 | $9,805.24 | $19,418.13 | $430,194.76 |
| Year 2 | $10,251.44 | $18,971.93 | $419,943.33 |
| Year 3 | $10,717.94 | $18,505.43 | $409,225.38 |
| Year 4 | $11,205.67 | $18,017.70 | $398,019.71 |
| Year 5 | $11,715.60 | $17,507.77 | $386,304.11 |
| Year 6 | $12,248.74 | $16,974.64 | $374,055.37 |
| Year 7 | $12,806.13 | $16,417.24 | $361,249.24 |
| Year 8 | $13,388.89 | $15,834.48 | $347,860.35 |
| Year 9 | $13,998.17 | $15,225.20 | $333,862.18 |
| Year 10 | $14,635.17 | $14,588.20 | $319,227.01 |
| Year 11 | $15,301.16 | $13,922.21 | $303,925.85 |
| Year 12 | $15,997.46 | $13,225.91 | $287,928.39 |
| Year 13 | $16,725.45 | $12,497.93 | $271,202.94 |
| Year 14 | $17,486.56 | $11,736.81 | $253,716.38 |
| Year 15 | $18,282.31 | $10,941.07 | $235,434.07 |
| Year 16 | $19,114.27 | $10,109.11 | $216,319.81 |
| Year 17 | $19,984.08 | $9,239.29 | $196,335.72 |
| Year 18 | $20,893.49 | $8,329.89 | $175,442.24 |
| Year 19 | $21,844.27 | $7,379.10 | $153,597.97 |
| Year 20 | $22,838.32 | $6,385.05 | $130,759.65 |
| Year 21 | $23,877.61 | $5,345.77 | $106,882.04 |
| Year 22 | $24,964.19 | $4,259.19 | $81,917.86 |
| Year 23 | $26,100.21 | $3,123.16 | $55,817.64 |
| Year 24 | $27,287.94 | $1,935.44 | $28,529.71 |
| Year 25 | $28,529.71 | $693.66 | $0.00 |
Estimates only. How we calculate: home price minus your down payment, repaid in equal payments at your rate, with interest compounded semi-annually, as fixed-rate mortgages in Canada usually are. Accelerated payments are your monthly payment split in two (bi-weekly) or four (weekly), which pays the mortgage off sooner. With less than 20% down on a home under $1.5 million, the CMHC default insurance premium (2.80% to 4.00% of the loan, by down payment) is added to the mortgage; in Ontario, Quebec and Saskatchewan, the provincial sales tax on it is due at closing and isn't included. Property tax and other fees are not included.
Do Buyers Pay Land Transfer Tax In Newfoundland And Labrador?
No. The province has no land transfer tax. What you pay instead are Registry of Deeds fees, one to register your deed and one for your mortgage.3 The amounts are set out in the Registry of Deeds Schedule of Fees, and the province has an online calculator to work them out. Ask your lawyer to confirm the exact figure before closing.3
How Do Interest Rates Move Prices In Newfoundland And Labrador?
Rates decide how many buyers can qualify, and that pushes prices up or down. Cheap borrowing pulls more people into the market. Costly borrowing shrinks the loan many buyers can get, so demand eases.
A quarter-point hike from the Bank of Canada on October 28, 2026 left its policy rate at 2.50%.4 Variable-rate mortgages now cost more. Buyers here stayed busy anyway. September brought 641 sales, up 5.1% on the year.1
For Newfoundland and Labrador mortgage rates, the national posted rates are a useful starting point. On October 28, 2026, the most common posted 5-year fixed rate at Canada's chartered banks was 6.19%.5 On a $284,480 mortgage, a 6.0% rate works out to about $1,820 a month, so compare quotes from several lenders before you sign.
What Sets The Price Of A Home In Newfoundland And Labrador?
Sellers can ask for any price they like. If it's well above what the market supports, the home tends to sit unsold, because few buyers will pay more than it's worth.
A handful of things decide what a home actually sells for.
Recent Sales Nearby
The starting point is what similar homes in the same area sold for lately.
An agent pulls these sales, often called comparables, to set a listing price. A good comparable usually checks three boxes:
- It sold recently - Ideally within the last 3 to 6 months.
- It's a close match - Same kind of home, with the same number of bedrooms and bathrooms.
- It's close by - In the same neighbourhood, and on the same street if possible.
Adjusting For Differences
No two homes are identical. So the agent nudges each comparable's sale price up or down for whatever sets it apart from the home being sold, until the number fits today's market.
These features usually lead to an adjustment:
- Type and style - Detached, semi-detached, two-storey or bungalow.
- Size and layout - Square footage, lot size, floor plan, and how many bedrooms and bathrooms it has.
- Upkeep and age - A well-kept newer home gets adjusted up, a tired older one down.
- Extras - A finished basement, parking, or a view if it's a condo.
- Location - Where it sits in the neighbourhood and which school district it falls in.
The closer a comparable is on these points, the fewer adjustments it needs and the easier it is to settle on a price.
Buyer's Market Or Seller's Market
When buyers outnumber the homes for sale, sellers can push prices up. When listings outnumber buyers, prices soften.
Supply in Newfoundland and Labrador is tight right now. When September 2026 closed, the province had 2,743 active listings, 18.4% fewer than a year earlier, while sales were up 5.1%.1 Inventory sat at 4.3 months, down from 5.5 months in September 2025 and far under the long-run average of 9 months.1 Sellers have the upper hand. If a home fits your budget and your needs, be ready to make an offer fast.
Jobs And Wages
Steady work and rising pay let more people buy, and that supports prices. When jobs get harder to find, fewer people can afford a home and prices tend to flatten out.
Does Your Credit Score Matter For A Mortgage In Newfoundland?
Yes. Lenders look at your credit score next to your income, debts and down payment. A record of late or missed payments makes them less willing to lend.
A higher score improves your odds of approval and can earn you a lower rate. On a $284,480 mortgage, every half-point off your rate saves you about $80 a month.
How Can You Avoid Being House Poor In Newfoundland?
House poor is when owning your home takes so much of each paycheque that there's hardly anything left. The mortgage, property tax, heat, power, insurance and repairs take the bulk of each paycheque, and saving for retirement or emergencies gets pushed aside.
It usually starts with buying a bit more home than your budget can carry. These steps help.
Know What You Can Really Afford
Keep your mortgage payment comfortably inside your budget. A lender may approve you for a certain amount, but you don't have to borrow all of it. Work out your mortgage affordability before you start touring homes.
The Two Ratios Lenders Check
Gross debt service (GDS) looks at your housing costs, such as your mortgage payment and property taxes, as a share of your gross income.
Total debt service (TDS) goes further and includes your car loan, credit card and other debt payments too. The pair make up your debt service ratio.
Save A Bigger Down Payment
A larger down payment shrinks the loan. On a $355,600 home, going from 5% down to 20% down cuts the payment from about $2,043 to $1,655 a month. Saving takes time, so give yourself room to build a solid amount. Keep an eye on prices while you save, though. They rose 5.5% here in the past year, which can outrun your savings.1
What Else Will You Pay As A Homeowner In Newfoundland And Labrador?
Expect more bills than the mortgage. Each municipality sets its own property tax, and St. John's kept its 2026 residential mill rate at 9.1.6
| Cost | What To Budget For |
|---|---|
| Property taxes | St. John's charges a 2026 residential mill rate of 9.1, or $9.10 per $1,000 of assessed value.6 On a $400,000 assessment, the bill comes to about $3,640 a year. The city also raised its residential water tax by $10 per unit for 2026. |
| Home insurance | Covers the building and your belongings. Build the premium into your monthly budget. |
| Utilities | Heat, power, water, internet and phone all arrive as monthly bills. |
| Maintenance and repairs | Furnaces, roofs and appliances don't last forever. Put a little aside every month so a repair doesn't end up on a credit card. |
| Condo fees | Condo owners pay a monthly fee. It covers some upkeep a house owner pays for directly. |
Should You Buy A Condo Or A House In Newfoundland And Labrador?
In St. John's, the September 2026 benchmark was $261,400 for a typical apartment or condo and $442,300 for a single-family home.1 With a gap of about $180,900, weigh whether a condo or a single-family house fits you better before you start looking. If you want the cheapest homes in Newfoundland, apartments and condos had the lowest provincial benchmark, at $262,200.1
Why A Condo Might Suit You
- A lower price - A smaller purchase price means a smaller mortgage and a smaller payment, which helps when money is tight.
- Less upkeep - The condo corporation looks after the building and grounds, and your condo fees pay for it.
- A central spot - Condos tend to be in urban areas, close to work, stores and things to do.
- Shared amenities - Many buildings have a gym, a party room, a pool or a rooftop garden.
Why A House Might Suit You
- Room to spread out - You get more living space inside and a yard of your own.
- Your home, your rules - Paint, renovate, keep pets or build a playhouse out back without asking a condo board first.
- No monthly condo fees - Plenty of buyers forget to budget for condo fees. With a house, you skip them, along with board meetings.
Where Can You Get A Mortgage In Newfoundland?
You have three main choices. The right one depends on your credit and your finances. Whichever you pick, go through a mortgage documents checklist before you apply so your paperwork is ready.
Banks
Banks such as BMO, RBC and TD are where many people in Newfoundland get a mortgage. Their rates are often among the lowest, but they want strong credit and stable finances before they say yes.
Credit Unions
Credit unions lend too, but you have to join before you apply. Some will consider a score a little below what a bank wants, often on less favourable terms. Many still ask for good credit.
Alternative Lenders
If a bank or credit union turns you down, an alternative lender may still approve you. Many work online and focus on people with bad credit. Their rules are looser, but expect a higher rate.
Planning Around The Average House Price In Newfoundland
Newfoundland and Labrador costs less to buy into than most of Canada, but prices here rose faster than in any other province over the past year. At the $355,600 benchmark, budget for roughly $1,655 to $2,043 a month, plus Registry of Deeds fees when you close.
Treat the provincial figure as a starting point, then compare it with the town you want and with other provinces. Knowing the numbers helps you set a budget and make an offer you can live with.
Average House Price In Newfoundland FAQs
How can you lower the cost of your home?
Which debt ratios do lenders check in Newfoundland?
Are Newfoundland home prices going up?
Is Newfoundland cheaper than the rest of Canada?
How much does a home cost in St. John's?
Why do home prices change in Newfoundland?
What's the mortgage payment on a typical Newfoundland home?
Does Newfoundland and Labrador charge a land transfer tax?
How much is a house in Newfoundland compared with Ontario?
Sources
- Canadian Real Estate Association (CREA). (2026). Newfoundland and Labrador Association of REALTORS housing market statistics (September 2026). https://creastats.crea.ca/board/stjo
- Canadian Real Estate Association (CREA). (2026). MLS Home Price Index data, not seasonally adjusted (monthly), Newfoundland and Labrador. https://www.crea.ca/housing-market-stats/mls-home-price-index/hpi-tool/
- Government of Newfoundland and Labrador. Registering a deed document. https://www.gov.nl.ca/dgsnl/registries/deeds/deed-reg/
- Bank of Canada. (2026). Bank of Canada raises the policy rate by 25 basis points to 2.50%. https://www.bankofcanada.ca/2026/10/fad-press-release-2026-10-28/
- Bank of Canada. (2026). Posted interest rates offered by chartered banks. https://www.bankofcanada.ca/rates/banking-and-financial-statistics/posted-interest-rates-offered-by-chartered-banks/
- City of St. John's. (2025). City of St. John's releases Budget 2026. https://www.stjohns.ca/en/news/city-of-st-john-s-releases-budget-2026.aspx
Note: Loans Canada does not arrange, underwrite or broker mortgages. We are a simple referral service.
