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How much do you need to earn to buy a house across Canada?

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DH Vancouver Staff Jan 13, 2015 11:33 am

Think you’re ready to go from being a renter to a buyer in Vancouver? Workopolis recently released a breakdown of the minimum household income needed to buy a house in each of the major cities across Canada, and, not surprisingly, Vancouver topped the list.

10. Halifax

Halifax Nova Scotia stock

Halifax, Nova Scotia image via Shutterstock

Average price: $264,447
Monthly mortgage payment: $1,152
Property tax: $266
Income required: $56,929

9. Winnipeg

winnipeg manitoba stock

Winnipeg, Manitoba image via Shutterstock

Average price: $270,605
Monthly mortgage payment: $1,179
Property tax: $274
Income required: $58,235

8. Montreal

montreal quebec stock

Montreal, Quebec image via Shutterstock

Average price: $344,273
Monthly mortgage payment: $1,500
Property tax: $237
Income required: $68,884

7. Regina

regina - tourism regina

Image: Tourism Regina

Average price: $331,161
Monthly mortgage payment: $1,443
Property tax: $378
Income required: $72,028

6. Edmonton

edmonton alberta skyline

Image: WinterforceMedia

Average price: $365,520
Mortgage payment: $1,592
Property tax: $244
Salary required: $72,617

5. Saskatoon

saskatoon saskatchewan stock

Saskatoon, Saskatchewan image via Shutterstock

Average price: $349,322
Monthly mortgage payment: $1,522
Property tax: $366
Income required: $74,546

4. Ottawa

ottawa ontario stock

Ottawa, Ontario image via Shutterstock

Average price: $357,887
Monthly mortgage payment: $1,559
Property tax: $336
Income required: $74,820.28

3. Calgary

calgary alberta stock

Calgary, Alberta image via Shutterstock

Average price: $465,047
Mortgage mortgage payment: $2,026
Property taxes: $236
Income required: $88,578

2. Toronto

toronto ontario stock

Toronto, Ontario image via Shutterstock

Average price: $587,505
Monthly mortgage payment: $2,560
Property tax: $354
Income required: $113,009

1. Vancouver

Vancouver

Average price: $819,336
Monthly mortgage payment: $3,570
Property tax: $251
Income required: $147,023

 

Feature image: Saving for house via Shutterstock

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D8d194f40cb13417f79d4d8daee34fdb?s=96&d=mm&r=g
DH Vancouver Staff
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