Housing prices across Canada seem like they’re constantly on the rise, and many Canadians who dream of owning their own home, or even upgrading or downgrading, are feeling the pinch. And it hurts. Property may be one of the best investments a person can make, but geography definitely dictates that.
The price of making that investment varies extensively across the country. RentSeeker.ca and Blue Chip Mortgage looked at what it actually costs, and what your income needs to be to purchase a home in many cities across Canada. Depending on where you live, moving might not be in the cards anytime soon.
It’s still better than West Vancouver where
it’ll cost you your firstborn the average home price is $1,757,700 and the income required to live there is upwards of $320K. Soooo, basically professional athletes and CEOs.
It’s a small price to pay if you can handle being a couple hours away from the mainland. For all this beauty? Yeah, probably.
It may have high wages and low taxes, but it snows in the summer. Just…no.
See: Calgary. Though Edmonton is an up-and-coming hot spot.
Some consider the cost of living too high for what you get out of the city, but at least you can find their delicious berries there. And sunsets like this.
If you don’t mind being that close to Montana and North Dakota, have at it.
Again, North. Dakota. (And Minnesota.) But look at that needed income. Definitely doable.
The numbers probably don’t have you clutching your pearls, but is anyone else surprised that Vaughan, Ont. (where the average home price is $717,414 and the needed income is $140,804) is more expensive than T.O.?! One can only take so much of Canada’s Wonderland and Vaughan Mills.
The capital of Canada is considered the best place to retire, so this is the place for you if you want a more serene way of life. Very serene. Like, be in bed by 8 p.m. serene.
A stone’s throw away from the best place to live in Canada, but with all the big city perks. Plus, it’s the closest thing we have to metropolitan Europe in our fine country.
New Brunswick’s capital has the lowest numbers in the nation — lower than Trois-Rivières, Que. and Charlottetown, PEI. In comparison, Fredericton is super affordable.
Idyllic for those looking for a big city with a small-town feel, music lovers, and those who enjoy the smell of the ocean.
Tiny town with an even tinier town feel. If that’s what you’re going for.
NEWFOUNDLAND & LABRADOR
Rethinking buying or selling now?