Vancouver is one of the most expensive places in Canada to own a home. The average house price in Vancouver, using the Greater Vancouver benchmark, was $1,075,900 in September 2026. That's 5.5% lower than a year earlier, but you'll still need a large down payment and a firm budget.
Start by learning how to shop for a mortgage, then give yourself time to save and clean up your finances.
If the city itself is out of reach, nearby markets such as the Fraser Valley and Chilliwack cost much less. Wherever you land in the region, expect prices well beyond the average house price in Canada.
Key Points
- In September 2026, a benchmark Greater Vancouver home cost $1,075,900, 5.5% less than in September 2025.
- Detached houses run $1,784,700 at the benchmark, townhouses $1,016,700 and apartments $682,500.
- Sales dropped 8.4% from a year earlier while 16,394 homes sat on the market, so buyers have more to pick from.
- Monthly payments on a benchmark-priced home land between about $5,000 and $6,000, with a bigger down payment putting you at the low end.
- Set aside about $19,518 for B.C. property transfer tax at the benchmark price.
What Is The Average House Price In Vancouver Today?
Greater Vancouver's typical home carried a benchmark of $1,075,900 in September 2026, a 5.5% decline over twelve months.1 That's $158,300 more than the $917,600 benchmark for Greater Toronto in the same month.2
Greater Vancouver REALTORS reports the MLS HPI composite benchmark. It measures the value of a home with features that are normal for the area, which keeps the number steady when the mix of sales changes from month to month. Since peaking at $1,252,800 in April 2022, the benchmark has lost 14.1%. Even so, it's about triple the $349,600 of January 2005.2
Greater Vancouver Benchmark Home Price, 2005 To 2026
Peak $1,252,800 in April 2022 | September 2026: $1,075,900
Source: CREA MLS Home Price Index, Greater Vancouver composite benchmark price, not seasonally adjusted.
If you're looking for the Vancouver median home price, the board doesn't publish one. Its September 2026 report gives benchmark prices only, with no median or average sale price.1 A median is the middle sale of the month, so it jumps around with whatever mix of homes sold. The benchmark is the steadier number to plan around.
Vancouver House Prices By Home Type: What Does Each One Cost?
A detached house in Greater Vancouver had a benchmark of $1,784,700 in September 2026, while an apartment sat at $682,500.1 The type of home you choose changes the price more than anything else, since a detached house costs about 2.6 times as much as an apartment.
| Home Type | Benchmark In September 2026 | Change From September 2025 | Homes Sold In September 2026 |
|---|---|---|---|
| Detached | $1,784,700 | -7.3% | 575 |
| Townhouse | $1,016,700 | -4.7% | 358 |
| Apartment | $682,500 | -6.2% | 777 |
Source: Greater Vancouver REALTORS, September 2026.1 Prices shown are MLS HPI benchmarks. Apartments were the busiest segment, with 777 sales.
How Does Vancouver Stack Up Against Other BC Markets?
No other major market in B.C. costs as much as Greater Vancouver. Its benchmark sits about $152,000 above the provincial average of $923,887, and Vancouver is the main reason BC's average home price is quite high.
| Area | September 2026 Benchmark | Change Over The Year |
|---|---|---|
| Greater Vancouver | $1,075,900 | -5.5% |
| Victoria | $877,000 | -0.1% |
| Fraser Valley | $861,300 | -7.1% |
| Chilliwack and District | $703,000 | -5.9% |
| Vancouver Island | $695,500 | -1.0% |
| Interior BC | $664,600 | +1.4% |
Source: CREA MLS Home Price Index for September 2026.2 Each area appears at its composite benchmark. Buying in Chilliwack and District instead of Greater Vancouver cuts the benchmark by $372,900.
How Far Above The National Average Is Vancouver?
About $409,000. A typical Vancouver home costs $1,075,900, while the national average is $666,538. British Columbia, where Vancouver is the largest market, has the highest prices of any province.
| Region | Price, September 2026 | Change Since September 2025 |
|---|---|---|
| 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 2026.3 For rows with an asterisk, CREA publishes a benchmark rather than an average sale price, and that benchmark is what you see here.
Why Is Vancouver So Expensive?
Geography is the biggest reason. The city sits on the Pacific with mountains close behind, so the only real direction to grow is east. That short supply of land keeps prices high, and the setting itself draws buyers.
Winters here are milder than in most of Canada, which makes the city a popular place to live. Jobs are plentiful too, and every new worker needs a place to live, so demand for housing stays strong.
For now, Greater Vancouver REALTORS says most activity comes from people buying a home to live in, while investors wait for better conditions.1
What Does A Vancouver Mortgage Cost Per Month?
At the $1,075,900 benchmark, 20% down gets you a payment of about $5,006 a month. Put down the minimum and it rises to about $6,008. These examples use a 5% fixed rate over 25 years. The more you put down, the less you borrow and the lower your payment.
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| Down Payment | Cash Up Front | Default Insurance Premium | Mortgage Amount | Monthly Cost |
|---|---|---|---|---|
| Minimum (7.68%)* | $82,590 | $39,732 (4.00%) | $1,033,042 | $6,008 |
| 10% | $107,590 | $30,018 (3.10%) | $998,328 | $5,806 |
| 20% | $215,180 | None | $860,720 | $5,006 |
*Minimum down payment rules ask for 5% on the first $500,000 of the price, then 10% on everything above it. For a $1,075,900 home, you'd need $25,000 plus $57,590, or $82,590 in all. That works out to 7.68% of the price.
These numbers are for illustrative purposes only. Actual numbers may vary.
Anything less than 20% down triggers mortgage default insurance. Your lender adds the premium to the loan, so with the minimum down you'd owe $1,033,042 rather than the $993,310 you'd otherwise borrow.
How Much Does Your Rate Matter?
Quite a bit on a loan this size. With 20% down, you'd borrow $860,720, and each 0.5% move in your rate changes what you pay monthly by $235 to $255 or so.
| Mortgage Rate | Monthly Cost | Total Interest Paid (25 Years) |
|---|---|---|
| 4.0% | $4,528 | $497,548 |
| 4.5% | $4,764 | $568,436 |
| 5.0% | $5,006 | $641,077 |
| 5.5% | $5,254 | $715,408 |
| 6.0% | $5,507 | $791,363 |
These numbers are for illustrative purposes only. Actual numbers may vary.
Plug a different price, rate or down payment into the mortgage calculator to see your own payment.
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.
How Much Is Property Transfer Tax On A Vancouver Home?
Expect about $19,518 on a home at the $1,075,900 benchmark. B.C. charges this tax on fair market value and uses a higher rate for each band of the price.4
| Fair Market Value Band | Tax Rate |
|---|---|
| Up to $200,000 | 1% |
| $200,000 to $2,000,000 | 2% |
| Over $2,000,000 | 3% |
| Further tax on residential value over $3,000,000 | 2% |
The first $200,000 is taxed at 1%, which is $2,000. The remaining $875,900 is taxed at 2%, which is $17,518. Together that comes to $19,518.
These numbers are for illustrative purposes only. Actual numbers may vary.
If you're a first-time buyer, the exemption only helps on homes up to $860,000. Below $835,000, you pay nothing on the first $500,000, saving up to $8,000, and from $835,000 to $860,000 you get a partial break. In Vancouver, an apartment is the home type most likely to qualify, with a benchmark of $682,500.
Are Interest Rates Holding Vancouver Prices Down?
They play a part. Higher rates shrink what buyers can borrow, which cools demand. Lower rates stretch budgets further, which brings more buyers in and can lift prices.
The Bank of Canada raised rates again on October 28, 2026, moving its policy rate to 2.50% from 2.25%. Vancouver's market was already slow. Sales in September 2026 were 8.4% below September 2025 and 25% under the 10-year September average.1
What Sets The Price Of A Particular Vancouver Home?
Two kinds of things move a home's price: the market around it and the home itself.
Buyer's Market Or Seller's Market
When listings pile up and buyers are scarce, sellers have to compete and prices drift lower. When buyers outnumber listings, sellers set the terms and prices climb.
The city currently leans toward buyers. At 10.9% in September 2026, the sales-to-active listings ratio was below the 12% mark under which the board expects prices to come under downward pressure over time. Listings totalled 16,394, which is 24.3% above the 10-year September average.1 That gives you time to compare homes and a stronger hand when you make an offer.
Employment
Steady work gives people the confidence to buy, and that supports prices. If the economy slows and more people lose their jobs, fewer can afford to buy, and prices have a harder time rising.
The Home Itself
These details all move the price of a specific home:
- Type of dwelling
- Number of bedrooms and bathrooms
- Square footage
- Age and condition of the home
- Layout
- Basement or suite
- Finishes and features
- Size of the lot
- Location in the neighbourhood
- Parking
Recent Sales Nearby
Agents set a listing price by looking at what similar homes nearby sold for. These sales are called comparables, or comps.
A useful comp is:
- Much like the home being priced - It has the same number of bedrooms and bathrooms, about the same size and style (such as a bungalow or two-storey) and a lot of similar size.
- Sold recently - The sale closed within the past 3 to 6 months.
- Close by - The nearer it is to the home being priced, the more weight it carries.
How Much Of Your Income Should Go To A Vancouver Home?
Enough to cover the mortgage and every debt you already pay, with room left for day-to-day living. Fixing that limit before you shop saves you from falling for homes you can't carry.
Add Up Your Monthly Bills
Track what goes out each month, such as:
- Utilities
- Car loans and car insurance
- Student loans
- Credit card bills
- Groceries
- Gas and transit
- Personal loans
- Subscriptions and entertainment
Work Out Your Debt Service Ratios
A fast way to size up what you can carry in Vancouver is by calculating these two ratios.
What Lenders Measure
GDS looks at housing alone. It totals principal and interest, heat, property taxes and, in a condo, half the monthly fee, then divides by your gross income. Every lender has its own upper limit.
TDS adds your other monthly debt payments to those housing costs and compares the total with your gross income. If it's above your lender's limit, approval gets harder.
Where Is The Vancouver Housing Market Heading In 2026?
Through September 2026, the market stayed soft. Prices slid as buyers held back, and the board reported every segment down about 3% since January.1
Sales remain slow, and the extra inventory works in buyers' favour. Apartment sales were 18.6% lower than a year earlier, while detached and attached sales rose slightly.1 For a first-time buyer, a quieter market means fewer bidding wars and more homes to look at.
Can You Afford A Home In Vancouver?
That depends on the home type and the neighbourhood. The overall benchmark is just over $1 million, but an apartment sits at $682,500 while a detached house is $1,784,700. Choosing the right type of home can bring a purchase within reach.
An online affordability calculator does the math for you. Enter your income, debts and down payment to see how much you can afford and the price range that fits.
What Bills Come With A Vancouver Home Besides The Mortgage?
Plan for these costs before you put in an offer:
| Bill | What To Know |
|---|---|
| Property taxes | The City of Vancouver applies a yearly rate to your assessed value, so look up the current rate before you buy. |
| Home insurance | Lenders won't give you a mortgage on a home without insurance. |
| Utilities | Heat, electricity, water and internet arrive as bills every month. |
| Maintenance and repairs | Wear and tear adds up, and fixing things is on you. |
| Condo fees | Condo owners pay a monthly fee for shared areas, separate from the mortgage. |
Before You Make An Offer In Vancouver
Vancouver is one of the costliest cities in Canada to buy in. Buying at the $1,075,900 benchmark means monthly mortgage payments in the $5,000 to $6,000 range, and taxes, insurance and upkeep come on top. Saving a full 20% keeps you clear of mortgage default insurance, which would add $30,018 to $39,732 to your loan at that price. Get your finances in shape first, then work with an experienced mortgage specialist and a local real estate agent to find a home you can comfortably carry.
Average House Price In Vancouver FAQs
Besides the mortgage, what will you pay as a Vancouver homeowner?
Why do lenders care about GDS and TDS?
How do Vancouver rents compare with buying?
What is the median home price in Vancouver?
Have Vancouver home prices dropped this year?
Is Vancouver pricier than the rest of Canada?
Which BC markets are cheaper than Vancouver?
How much does a condo cost in Vancouver?
What's the monthly payment on a benchmark-priced Vancouver home?
What will transfer tax cost on a typical Vancouver home?
Sources
- Greater Vancouver REALTORS, "Monthly Market Report, September 2026," gvrealtors.ca, accessed October 2026. https://members.gvrealtors.ca/news/GVR-Stats-Package-September-2026.pdf
- Canadian Real Estate Association (CREA), "MLS Home Price Index data, not seasonally adjusted (monthly)," crea.ca, accessed October 2026. https://www.crea.ca/housing-market-stats/mls-home-price-index/hpi-tool/
- Canadian Real Estate Association (CREA), "National Price Map (September 2026)," crea.ca, accessed October 2026. https://www.crea.ca/housing-market-stats/canadian-housing-market-stats/national-price-map/
- Province of British Columbia, "Property transfer tax," gov.bc.ca, accessed October 2026. https://www2.gov.bc.ca/gov/content/taxes/property-taxes/property-transfer-tax
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