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Published by Statista Research Department, Jan 29, 2024
Prospective homebuyers in Vancouver, British Columbia, and Toronto, Ontario, needed an annual income of over 200,000 Canadian dollars in 2023 to qualify for the average priced home. In Vancouver, this figure was approximately 237,000 Canadian dollars. British Columbia and Ontario, are Canada's most expensive provinces for housing. According to a January 2023 forecast by the Canadian Real Estate Association (CREA), the housing market is expected to cool down in the next two years, which is likely to improve home affordability.
Income needed to afford to buy a home in Canada in 2023, by city (in Canadian dollars)
| Characteristic | Annual income in Canadian dollars |
|---|---|
| - | - |
| - | - |
| - | - |
| - | - |
| - | - |
| - | - |
| - | - |
| - | - |
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