Infographic: The Cost of Buying a House in Canada

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Infographic: The Cost of Buying a House in Canada

Written by Caitlin Wood

Infographic: The Cost of Buying a House in Canada

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Canada House Mortgage Real Estate

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

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Rating of 4/5 based on 14 votes.

Caitlin is one of Canada's leading personal finance writers. She is a graduate of Dawson College and Concordia University. She has been part of the Loans Canada team for over eight years. 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.

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