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Newfoundland & Labrador Mortgage Affordability Calculator

Updated

Maximum Home Price

How much house can you afford in Newfoundland?

Newfoundland and Labrador’s average home price is $348,366 as of January 2026, up 3.9% year-over-year. More notably, the MLS benchmark surged 9.7% YoY to $334,000 — the strongest benchmark growth of any province in Canada. The market is balanced with 5.8 months of supply.

Newfoundland: the benchmark growth story

NL’s benchmark growth outpaces every other province:

Province Benchmark Price YoY Change
Newfoundland & Labrador $334,000 +9.7%
Quebec $535,000 +7.1%
Saskatchewan $359,500 +5.6%
New Brunswick $329,400 +4.8%
PEI $371,700 +1.7%
Nova Scotia $417,700 +0.6%
Ontario $745,800 -7.0%
BC $886,200 -4.9%
Alberta $499,300 -3.1%

While Ontario and BC are falling, NL is accelerating. This is significant for buyers considering timing.

What your income buys in Newfoundland

Annual Income Max Home (20% DP) Where in NL
$60,000 ~$305,000 Outside St. John’s, Corner Brook, Gander
$70,000 ~$360,000 Rural NL comfortably, near St. John’s average
$87,000 ~$450,000 Provincial average — most of St. John’s
$100,000 ~$515,000 Premium areas in St. John’s

A single income of $87,000 covers the average home — making NL one of Canada’s most accessible markets for solo buyers.

How NL compares to other affordable provinces

Factor NL NB SK MB
Average price $348,366 $329,850 $333,574 $373,802
Benchmark $334,000 $329,400 $359,500 N/A
YoY growth (benchmark) +9.7% +4.8% +5.6% N/A
Months of supply 5.8 5.5 4.9 ~4.0
Transfer tax on avg Minimal 1% ($3,299) 0.3% (~$1,000) ~$4,800

NL has the strongest growth, moderate supply, and among the lowest transfer costs.

Newfoundland market conditions — January 2026

Metric Value
Average home price $348,366 (+3.9% YoY)
Benchmark price $334,000 (+9.7% YoY)
Total sales 288 (+8.9% YoY)
Months of supply 5.8
Market condition Balanced

See the Newfoundland housing market report for the latest.

Tips for Newfoundland homebuyers

  1. Benchmark growth is accelerating — At 9.7% YoY, delays cost real money. A 1-year wait at this rate adds ~$33,000
  2. Still affordable by any standard — $87,000 income covers the average home
  3. Minimal transfer costs — Among the lowest closing costs in Canada
  4. 5% down on $348K is just $17,418 — Very achievable savings target
  5. Compare mortgage rates — Shop for the best deal, even on smaller mortgages