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 image via Shutterstock
Average price: $264,447
Monthly mortgage payment: $1,152
Property tax: $266
Income required: $56,929
9. Winnipeg
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 image via Shutterstock
Average price: $344,273
Monthly mortgage payment: $1,500
Property tax: $237
Income required: $68,884
7. Regina
Image: Tourism Regina
Average price: $331,161
Monthly mortgage payment: $1,443
Property tax: $378
Income required: $72,028
6. Edmonton
Image: WinterforceMedia
Average price: $365,520
Mortgage payment: $1,592
Property tax: $244
Salary required: $72,617
5. Saskatoon
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 image via Shutterstock
Average price: $357,887
Monthly mortgage payment: $1,559
Property tax: $336
Income required: $74,820.28
3. Calgary
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 image via Shutterstock
Average price: $587,505
Monthly mortgage payment: $2,560
Property tax: $354
Income required: $113,009
1. Vancouver
Average price: $819,336
Monthly mortgage payment: $3,570
Property tax: $251
Income required: $147,023
Feature image: Saving for house via Shutterstock