Get a free, no obligation personal loan quote with rates as low as 9.99%
Get Started You can apply with no impact to your credit score

With prices soaring across the country and interest rates steadily holding at historic lows, it seems like the Canadian real estate market is on everyone’s mind right now. Whether you’re looking for a starter home in New Brunswick or an investment property in Toronto or Vancouver, the cost of purchasing and maintaining a property can often seem overwhelming. To help you plan out an upcoming move, determine whether you’ve saved up enough to purchase a home in your city, or to help you decide whether homeownership is even an option, we’ve created an infographic that breaks down, by major Canadian city, the cost of owning a home and how much income you’ll need to earn.

Average House PriceAverage Monthly Mortgage PaymentMedian Family IncomeHouse Price Change Y/Y (2020 – 2021)
Calgary$436,800$1,572$109,1006.2%
Vancouver$1,123,300$2156$98,6009.4%
Edmonton $330,200$1,474$104,1004.4%
Regina$258,800$1,362$96,0809.5%
Saskatoon$314,300$1,326$96,3208.2%
Winnipeg$306,800$1,194$83,90012.1%
Ottawa$611,900$1,423$104,10029.1%
Toronto$918,883$2,103$93,20012%
Montreal$474,000$1,274$83,30022.4%
Halifax$370,271$1,248$92,13012%
St.John’s$265,600$934$100,1503.0%
Cost of Buying a House in Canada

Interested in speaking with someone about mortgage options in your area?

Caitlin Wood, BA avatar on Loans Canada
Caitlin Wood, BA

Caitlin Wood is the Editor-in-Chief at Loans Canada and specializes in personal finance. She is a graduate of Dawson College and Concordia University and has been working in the personal finance industry for over eight years. Caitlin has covered various subjects such as debt, credit, and loans. Her work has been published on Zoocasa, GoDaddy, and deBanked. She believes that education and knowledge are the two most important factors in the creation of healthy financial habits. She also believes that openly discussing money and credit, and the responsibilities that come with them can lead to better decisions and a greater sense of financial security.

More From This Author

Special Offers

More From Our Experts

https://loanscanada.ca/wp-content/uploads/2021/07/Average-Home-Prices-in-Newfoundland-1.png
Average House Price In Newfoundland & Labrador 2025

By Lisa Rennie
Updated on March 3, 2025

Let's take a look at the current average house price in Newfoundland & Labrador, as well as what you should do to avoid becoming house poor.

https://loanscanada.ca/wp-content/uploads/2021/07/Average-Home-Prices-in-Prince-Edward-Island-1.png
Average House Prices In Prince Edward Island 2025

By Lisa Rennie
Updated on March 3, 2025

Planning on buying a home in PEI? Be sure to do your research and find out what the average PEI house prices are going for before you do.

https://loanscanada.ca/wp-content/uploads/2021/05/Average-Home-Prices-In-Manitoba.png
What Is The Average House Price In Manitoba 2025?

By Lisa Rennie
Updated on February 28, 2025

Buying a house in Manitoba? Find out how much the average house price in Manitoba compares to the nation-wide average.

https://loanscanada.ca/wp-content/uploads/2021/05/Average-Home-Prices-In-Saskatchewan.png
Average House Price In Saskatchewan 2025

By Lisa Rennie
Updated on February 28, 2025

Check out the average house price in Saskatchewan and learn about what affects the price and whether you can afford one.

https://loanscanada.ca/wp-content/uploads/2021/07/Average-Home-Prices-In-Vancouver-2021-1.png
Average House Price In Vancouver 2025

By Lisa Rennie
Updated on February 25, 2025

Before you buy a home in Vancouver, it would be helpful to do a little homework on prices and take some time to save for a big down payment.

https://loanscanada.ca/wp-content/uploads/2021/07/Average-Home-Prices-In-Montreal-2021-1.png
What’s The Average House Price In Montreal 2025?

By Lisa Rennie
Updated on February 25, 2025

Montreal is a fabulous place to call home, and it's relatively affordable compared to other busy cities across Canada.

https://loanscanada.ca/wp-content/uploads/2021/07/Average-Home-Prices-In-Halifax-2021-1.png
Average House Price In Halifax 2025

By Lisa Rennie
Updated on February 25, 2025

Let's take a look at what the average house price is in Halifax, and what you can do to make sure you spend within your budget.

https://loanscanada.ca/wp-content/uploads/2022/02/What-Is-A-Cash-Out-Refinance-Car-Loan.png
What Is A Cash-Out Refinance Car Loan?

By Lisa Rennie
Updated on February 6, 2025

Do you have positive equity in your car? The you may qualify for a cash-out refinance on a car loan. Find out how much money you can access.

Recognized As One Of Canada's Top Growing Companies

Why choose Loans Canada?

Apply Once &
Get Multiple Offers
Save Time
And Money
Get Your Free
Credit Score
Free
Service
Expert Tips
And Advice
Exclusive
Offers