Based on home prices from the CREA MLS home price index, a mortgage with 10 percent down payment, 25-year amortization, 4,000 Canadian dollars annual property taxes, 150 Canadian dollars monthly heating, and the average 5-year fixed rate mortgage rate of Big Five Banks.
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Income needed to afford to buy a home in Canada 2025, by city
Prospective homebuyers in Vancouver, British Columbia, and Toronto, Ontario, needed an annual income of over ** Canadian dollars in June 2025 to qualify for the average priced home. In Vancouver, this figure was approximately ** Canadian dollars. British Columbia and Ontario, are Canada's most expensive provinces for housing. According to a January 2025 forecast by the Canadian Real Estate Association (CREA), the housing market is expected to grow in the next two years, which is likely to worsen home affordability.
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Website (ratehub.ca). (July 18, 2025). Income needed to afford to buy a home in Canada in June 2025, by city (in Canadian dollars) [Graph]. In ÌÇÐÄÆƽâ°æ. Retrieved July 27, 2026, from /statistics/1287002/income-needed-to-buy-a-home-canada/
Website (ratehub.ca). "Income needed to afford to buy a home in Canada in June 2025, by city (in Canadian dollars)." Chart. July 18, 2025. ÌÇÐÄÆƽâ°æ. Accessed July 27, 2026. /statistics/1287002/income-needed-to-buy-a-home-canada/
Website (ratehub.ca). (2025). Income needed to afford to buy a home in Canada in June 2025, by city (in Canadian dollars). ÌÇÐÄÆƽâ°æ. ÌÇÐÄÆƽâ°æ Inc.. Accessed: July 27, 2026. /statistics/1287002/income-needed-to-buy-a-home-canada/
Website (ratehub.ca). "Income Needed to Afford to Buy a Home in Canada in June 2025, by City (in Canadian Dollars)." ÌÇÐÄÆƽâ°æ, ÌÇÐÄÆƽâ°æ Inc., 18 Jul 2025, /statistics/1287002/income-needed-to-buy-a-home-canada/
Website (ratehub.ca), Income needed to afford to buy a home in Canada in June 2025, by city (in Canadian dollars) ÌÇÐÄÆƽâ°æ, /statistics/1287002/income-needed-to-buy-a-home-canada/ (last visited July 27, 2026)
Income needed to afford to buy a home in Canada in June 2025, by city (in Canadian dollars) [Graph], Website (ratehub.ca), July 18, 2025. [Online]. Available: /statistics/1287002/income-needed-to-buy-a-home-canada/
