What income do you need to buy a house? City by city

The income required in 75 cities

For each city we start from the reference price published by its real estate board (composite HPI, median or average — the same as our price dossiers), and compute the gross household income needed to qualify under the insured-loan standard. Ranked from highest to lowest income.

Income rounded to the nearest thousand. The reference price is the one published by each city's board (see our price dossiers for each figure's exact scope). A household with other debts (car, cards, credit lines) needs a higher income — the TDS ratio (44%) takes over.

Part of the down payment can come from a First Home Savings Account (FHSA: $8,000 of room a year, $40,000 lifetime limit) and the Home Buyers' Plan (HBP: up to $60,000 withdrawn from your RRSPs) — the Canada Revenue Agency allows both for the same home.

The method, in full

The assumptions. 20% down payment · 25-year amortization · qualifying rate of 6.58% (the higher of the 5.25% regulatory floor and the system's average 5-year fixed — 4.58% per the Bank of Canada — plus 2 points) · property taxes estimated at 1% of the price per year · heating estimated at $150/month · 39% GDS ratio (the insured-loan standard) · no other debts.

The math. Canadian mortgage payment (semi-annual compounding) on 80% of the price, plus taxes and heating, all capped at 39% of gross monthly income: required income = (payment + taxes/12 + heating) × 12 ÷ 0.39. It is exactly the mechanics detailed in our affordability pillar, applied to each city's actual price.

What this figure is not. Neither a loan promise nor a market average: it is the theoretical qualification threshold for a debt-free file under the assumptions above. Your actual rate, taxes and debts change the result — a mortgage broker runs it with your numbers. The prices themselves are never estimated: each comes from the city's real estate board, at the date shown.

Regeneration. This table is recomputed on every data update (last generated: November 9, 2026) — if the Bank of Canada moves or a board publishes a new month, the required incomes follow automatically.

How to read these figures

The national gap is dizzying. Between Sept-Îles ($54,000) and Victoria ($252,000), the required income varies by a factor of 5. The same Canadian household can be a comfortable owner in one city and priced out in another — the required-income gap is first a geography gap, not an effort gap.

The median total income of Canadian households was $84,000 (2021 Census, Statistics Canada): every city above that threshold in the table therefore requires more than the median household earns — often two full incomes. That is the affordability crisis in concrete terms.

Two levers change the picture: a 30-year amortization instead of 25 (available to first-time buyers on insured loans) cuts the required income by roughly 8-10%, and every point of decline in the qualifying rate cuts it by roughly 9-11%. See the policy-rate dossier for the decision calendar.

Frequently asked questions