Income Needed to Buy a Home in Canada, by City
To buy the typical home with the minimum down payment, a household needs about $99,000 a year in Winnipeg and $246,000 in Greater Vancouver, the least and most expensive of our 11 markets. Across 54 cities, it ranges from $100,000 in the City of Winnipeg to $397,000 in West Vancouver. The figures use each market's latest report and the Bank of Canada's average rate on new 5-year fixed mortgages in July 2026 (4.05% insured, 4.49% uninsured), stress-tested as lenders do.
By market
| Market | Price | Minimum Down | Monthly Cost | Income Needed | Month |
|---|---|---|---|---|---|
| Winnipeg | $413,250 | $20,663 | $2,764 | $99,000 | August 2026 |
| Edmonton | $469,602 | $23,480 | $2,999 | $109,000 | August 2026 |
| Nova Scotia | $467,585 | $23,379 | $3,035 | $110,000 | August 2026 |
| Quebec City | $489,295 | $24,465 | $3,043 | $111,000 | August 2026 |
| Calgary | $638,440 | $38,844 | $3,801 | $139,000 | August 2026 |
| Montreal | $689,824 | $43,982 | $4,117 | $150,000 | August 2026 |
| Waterloo Region | $723,196 | $47,320 | $4,735 | $170,000 | August 2026 |
| Hamilton | $737,496 | $48,750 | $4,894 | $176,000 | August 2026 |
| GTA | $993,410 | $74,341 | $5,989 | $218,000 | August 2026 |
| Burlington | $1,047,064 | $79,706 | $6,355 | $231,000 | August 2026 |
| Greater Vancouver | $1,215,516 | $96,552 | $6,669 | $246,000 | August 2026 |
By city
| City | Market | Price | Monthly Cost | Income Needed |
|---|---|---|---|---|
| City of Winnipeg | Winnipeg | $415,442 | $2,778 | $100,000 |
| City of Edmonton | Edmonton | $436,475 | $2,807 | $102,000 |
| Airdrie | Calgary | $493,390 | $3,010 | $110,000 |
| Leduc | Edmonton | $518,529 detached | $3,260 | $118,000 |
| Fort Saskatchewan | Edmonton | $540,179 detached | $3,317 | $121,000 |
| Beaumont | Edmonton | $533,774 | $3,345 | $121,000 |
| Spruce Grove | Edmonton | $544,602 detached | $3,392 | $123,000 |
| Sherwood Park | Edmonton | $599,258 detached | $3,617 | $132,000 |
| Halifax-Dartmouth | Nova Scotia | $592,675 | $3,781 | $137,000 |
| Laval | Montreal | $650,826 | $3,872 | $141,000 |
| St. Albert | Edmonton | $625,434 detached | $3,960 | $143,000 |
| New Westminster | Greater Vancouver | $722,300 benchmark | $4,151 | $152,000 |
| Oshawa | GTA | $652,775 | $4,375 | $157,000 |
| Kitchener | Waterloo Region | $674,204 | $4,414 | $159,000 |
| Waterloo | Waterloo Region | $711,292 | $4,657 | $168,000 |
| Chestermere | Calgary | $788,642 | $4,597 | $168,000 |
| Island of Montreal | Montreal | $779,646 | $4,624 | $169,000 |
| Innisfil | GTA | $741,394 | $4,722 | $171,000 |
| Clarington | GTA | $733,960 | $4,788 | $172,000 |
| Port Coquitlam | Greater Vancouver | $840,300 benchmark | $4,710 | $173,000 |
| Cambridge | Waterloo Region | $746,672 | $4,924 | $177,000 |
| Pitt Meadows | Greater Vancouver | $849,100 benchmark | $4,817 | $177,000 |
| Burnaby North | Greater Vancouver | $883,700 benchmark | $4,903 | $181,000 |
| Maple Ridge | Greater Vancouver | $890,800 benchmark | $5,033 | $185,000 |
| New Tecumseth | GTA | $825,444 | $5,136 | $186,000 |
| Georgina | GTA | $819,910 | $5,159 | $187,000 |
| Burnaby South | Greater Vancouver | $974,800 benchmark | $5,378 | $198,000 |
| Burnaby East | Greater Vancouver | $985,700 benchmark | $5,435 | $201,000 |
| Coquitlam | Greater Vancouver | $981,400 benchmark | $5,459 | $201,000 |
| Mississauga | GTA | $898,510 | $5,549 | $201,000 |
| Ajax | GTA | $871,853 | $5,611 | $202,000 |
| Brampton | GTA | $886,865 | $5,603 | $202,000 |
| Halton Hills | GTA | $922,377 | $5,624 | $204,000 |
| Richmond | Greater Vancouver | $1,025,100 benchmark | $5,663 | $209,000 |
| Whitby | GTA | $905,123 | $5,810 | $209,000 |
| City of Toronto | GTA | $979,684 | $5,762 | $210,000 |
| Milton | GTA | $977,576 | $5,830 | $212,000 |
| Port Moody | Greater Vancouver | $1,037,400 benchmark | $5,792 | $213,000 |
| Pickering | GTA | $935,490 | $5,960 | $215,000 |
| Ladner | Greater Vancouver | $1,061,400 benchmark | $5,890 | $217,000 |
| Tsawwassen | Greater Vancouver | $1,102,200 benchmark | $6,106 | $225,000 |
| Vancouver East | Greater Vancouver | $1,111,700 benchmark | $6,101 | $225,000 |
| Newmarket | GTA | $1,048,321 | $6,278 | $229,000 |
| Aurora | GTA | $1,105,004 | $6,561 | $239,000 |
| Caledon | GTA | $1,120,586 | $6,750 | $245,000 |
| Vancouver West | Greater Vancouver | $1,222,000 benchmark | $6,678 | $247,000 |
| Stouffville | GTA | $1,158,512 | $6,847 | $250,000 |
| Markham | GTA | $1,208,692 | $6,997 | $256,000 |
| Richmond Hill | GTA | $1,205,777 | $7,019 | $256,000 |
| Vaughan | GTA | $1,234,758 | $7,169 | $262,000 |
| North Vancouver | Greater Vancouver | $1,305,600 benchmark | $7,117 | $263,000 |
| Whistler | Greater Vancouver | $1,317,400 benchmark | $7,112 | $263,000 |
| Oakville | GTA | $1,324,472 | $7,781 | $284,000 |
| West Vancouver | Greater Vancouver | $2,269,000 benchmark | $10,799 | $397,000 |
Each city at the average price of its latest report (Greater Vancouver's areas at their benchmark price, and some Edmonton-area towns at their detached average), with the minimum down payment, a 25-year mortgage, its own property tax rate and $150 a month for heating, and no other debts. Each city's page shows the full breakdown, the 20% down case and, where its report has them, the figures by home type.
More reports
Every market on the housing market reports page, cities side by side on the comparisons page, and your own numbers in the affordability calculator.
Mortgage rates from the Bank of Canada; prices from each market's board; 2026 property tax rates from each city.
The information presented on HousingPortal.ca is intended for general illustrative purposes only. While the information is believed to be reliable, it cannot be guaranteed for accuracy, completeness, or currency. Neither HousingPortal.ca and its employees, nor any other party identified in this guide/report, assumes any liability for the information provided. The views and opinions expressed by the analysts at HousingPortal.ca are their own and should not be considered as investment advice. It is recommended that you seek the advice of a licensed real estate professional before making any decisions regarding real estate investments.