How much does it cost to buy a home across Canada?

Buying a home is one of the most important financial decisions of your life. Find out how much money you’ll need to buy a home in these popular Canadian cities.

By Homicity

Sep 24, 2019

How much does it cost to buy a home across Canada?

From breathtaking scenery to bustling nightlife, Canada has attracted individuals from all over with its exceptional quality of life. Canada has some of the best cities to live and play in the world, but home affordability can change drastically depending on the province, region, and city.

In Canada, a home would cost approximately $498,943 (CREA, July 2019), an increase of 3.9% from last year’s price of $480,082.

Affordability is one of the most important factors to consider when deciding whether you’re ready to purchase a home. To help you with your budget, see how these popular Canadian cities compare to one another.

British Columbia

Average home price (2019): $682,807

Vancouver

Average home price (2019): $995,200
Income required: $156,052

Victoria

Average home price (2019): $699,600
Income required: $115,978

Alberta

Average home price (2019): $376,363

Calgary 

Average home price (2019): $419,900
Income required: $75,005

Edmonton 

Average home price (2019): $323,000
Income required: $61,993

Saskatchewan

Average home price (2019): $286,432

Regina

Average home price (2019): $269,400
Income required: $54,403

Saskatoon 

Average home price (2019): $291,300
Income required: $54,333

Ontario

Average home price (2019): $596,545

Ottawa

Average home price (2019): $428,200
Income required: $78,794

Toronto

Average home price (2019):  $800,900
Income required: $134,468

Quebec

Average home price (2019): $325,318

Montréal

Average home price (2019): $367,800
Income required: $57,690

Québec City 

Average home price (2019): $280,580
Income required: $50,311

New Brunswick

Average home price (2019): $179,988

Saint John

Average home price (2019): $188,973
Income required: $40,824 

Nova Scotia

Average home price (2019): $253,472

Halifax

Average home price (2019): $309,101
Income required: $59,249

Newfoundland and Labrador

Average home price (2019): $248,818

St. John’s

Average home price (2019): $282, 219
Income required: $54,989


Now that you have a better idea as to how much it will cost to buy a home in cities across Canada, take the next step and start your search!

Homicity

Homicity helps you find your dream home in the perfect community. Whether you are buying, renting, or selling, you can navigate the Canadian real estate market with confidence with our expert advice, market news, and recommendations powered by AI.

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