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 Price | Average Monthly Mortgage Payment | Median Family Income | House Price Change Y/Y (2020 – 2021) | |
| Calgary | $436,800 | $1,572 | $109,100 | 6.2% |
| Vancouver | $1,123,300 | $2156 | $98,600 | 9.4% |
| Edmonton | $330,200 | $1,474 | $104,100 | 4.4% |
| Regina | $258,800 | $1,362 | $96,080 | 9.5% |
| Saskatoon | $314,300 | $1,326 | $96,320 | 8.2% |
| Winnipeg | $306,800 | $1,194 | $83,900 | 12.1% |
| Ottawa | $611,900 | $1,423 | $104,100 | 29.1% |
| Toronto | $918,883 | $2,103 | $93,200 | 12% |
| Montreal | $474,000 | $1,274 | $83,300 | 22.4% |
| Halifax | $370,271 | $1,248 | $92,130 | 12% |
| St.John’s | $265,600 | $934 | $100,150 | 3.0% |
