The answer
Under the federal stress test (6.58% qualifying rate (the higher of 5.25% and the average 5-year fixed of 4.58% + 2 points; Bank of Canada, August 2026)), with 20% down, 25-year amortization, property taxes estimated at 1% of the price a year, heating at $150/month, 39% GDS ratio, no other debts, a $60,000 household income can afford a home of about $288,000; $80,000 → $393,000; $100,000 → $497,000; $120,000 → $601,000; and $150,000 → $758,000. Every extra $20,000 of income adds about $104,000 of price. Payotte math at today's rate, recomputed on every update.
Maximum price by income level
Every row uses the same published assumptions and today's rate. "Cities within reach" counts the cities, out of the 75 tracked, whose real estate board reference price is at or below the maximum price. The last column shows the effect of $500 a month of debts (44% TDS ratio).
| Household income | Maximum price | Mortgage | Actual payment | Cities within reach | Up to | With $500/mo of debts |
|---|---|---|---|---|---|---|
| $60,000 | $288,000 | $230,400 | $1,285 | 5 / 75 | Prince Albert ($285,500) | $248,000 |
| $80,000 | $393,000 | $314,400 | $1,754 | 14 / 75 | Grande Prairie ($388,467) | $366,000 |
| $100,000 | $497,000 | $397,600 | $2,218 | 29 / 75 | Sherbrooke ($490,750) | $484,000 |
| $120,000 | $601,000 | $480,800 | $2,683 | 44 / 75 | Saint-Eustache ($598,250) | $601,000 |
| $150,000 | $758,000 | $606,400 | $3,383 | 58 / 75 | Brossard ($739,500) | $758,000 |
Why two households on the same salary don't buy the same house
The maximum price doesn't depend on income alone. Debts come before the house: $500 a month of payments cuts $13,000 of price on a $100,000 income. The down payment matters too: below 20%, the loan must be insured (CMHC or a private insurer) and the premium is added to the mortgage. And the city decides the rest: on the same income, the room left after buying a typical home ranges from several hundred thousand dollars in the cheapest markets to a shortfall in the most expensive.
To go the other way — start from a city and find the salary it requires — see the income needed, city by city; to run the math with your own numbers, our affordability calculator.
Assumptions and sources
Down payment 20% · amortization 25 years · qualifying rate 6.58% (stress test: the higher of 5.25% and the average 5-year fixed + 2 points) · property taxes 1% of the price a year · heating $150/month · GDS 39% · TDS 44%. It is the same method as our affordability pillar and our stress test guide. It is neither an offer nor a pre-approval: every lender applies its own grid, and your actual rate, taxes and debts change the result. Recomputed on every site update (last: November 11, 2026).
- OSFI — minimum qualifying rate for uninsured mortgages (5.25% floor or contract rate + 2 points)
- CMHC — mortgage loan insurance, purchase (39% GDS and 44% TDS ratios)
- Bank of Canada — 5-year-and-over fixed mortgage rate, series V122667786 (August 2026)
- Reference prices: each city's real estate board, at the month shown (details and links in the income-needed dossier).
Frequently asked questions
How much house can I afford in Canada based on my salary?
Under the federal stress test (6.58% qualifying rate (the higher of 5.25% and the average 5-year fixed of 4.58% + 2 points; Bank of Canada, August 2026)), with 20% down, 25-year amortization, property taxes estimated at 1% of the price a year, heating at $150/month, 39% GDS ratio, no other debts, a $60,000 household income can afford a home of about $288,000; $80,000 → $393,000; $100,000 → $497,000; $120,000 → $601,000; and $150,000 → $758,000. Every extra $20,000 of income adds about $104,000 of price. Payotte math at today's rate, recomputed on every update.
How much house can I afford on $60,000 a year?
About $288,000 ($230,400 mortgage, $57,600 down), at the 6.58% qualifying rate with no other debts; 5 of the 75 cities tracked have a reference price within reach.
How much house can I afford on $80,000 a year?
About $393,000 ($314,400 mortgage, $78,600 down), at the 6.58% qualifying rate with no other debts; 14 of the 75 cities tracked have a reference price within reach.
How much house can I afford on $100,000 a year?
About $497,000 ($397,600 mortgage, $99,400 down), at the 6.58% qualifying rate with no other debts; 29 of the 75 cities tracked have a reference price within reach.
How much house can I afford on $120,000 a year?
About $601,000 ($480,800 mortgage, $120,200 down), at the 6.58% qualifying rate with no other debts; 44 of the 75 cities tracked have a reference price within reach.
How much house can I afford on $150,000 a year?
About $758,000 ($606,400 mortgage, $151,600 down), at the 6.58% qualifying rate with no other debts; 58 of the 75 cities tracked have a reference price within reach.
Related reading — our data dossiers
- Short-term rental rules
- Joint tenancy vs tenancy in common
- Credit score to buy a house
- Home inspection checklist
- Rent increase 2026 (Ontario, Quebec)
- Mortgage rates in Canada today
- Canada policy rate
- 2026-2027 forecasts: will prices drop?
- Average rent by city (CMHC)
- Quebec real estate prices
- Ontario real estate prices
- Alberta real estate prices
- British Columbia real estate prices
- Saskatchewan real estate prices
- Manitoba real estate prices
- Nova Scotia real estate prices
- New Brunswick real estate prices
- Rent or buy? The monthly gap by city
- How long to sell? City by city
- Land transfer tax, city by city
- 25 vs 30-year amortization: the real cost
- Real estate commission: the real numbers
- Sell with an agent or sell yourself?
- Quebec notary fees
- GST/HST on a new home, by province
- Title insurance: cost and coverage
- How much does a home appraisal cost?
- Condo status certificate: price by province
- Mortgage discharge fees
- Cancelling an accepted offer: the deadlines by province
- New home warranty, province by province
- Foreign buyers: the ban and the taxes
- Who owns that property? The title search
- Surveys and the certificat de localisation
- Real-estate market statistics
- Notary or lawyer? Province by province
- Lawyer and notary fees, by province
- Inspection vs appraisal: the difference
- Who pays what: buyer vs seller
- How to negotiate with mortgage lenders
- Mortgage broker vs bank
- Mortgage pre-approval, without the myths
Your own number
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