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Ontario Mortgage Affordability Calculator (2026): Income Needed to Buy

Updated

This page shows the income needed for a typical home in Ontario and in Toronto, Ottawa and Hamilton.

Household income (before tax, a year)
Savings for the down payment
Other debt payments ($ a month)
Mortgage rate (%), blank for the current average
Amortization (years)
Property tax (% of price a year)
Heating ($ a month)
Condo fees ($ a month)
Most you can spend on a home
Down payment
CMHC insurance premium
Mortgage (with premium)
Qualifying (stress test) rate
Actual monthly payment

Income needed for a typical home

AreaPrice measurePriceIncome needed, minimum downIncome needed, 20% down
OntarioMLS HPI benchmark$745,400$166,300$145,000
OntarioAverage sale price$788,835$175,500$153,100
Toronto (GTA)MLS HPI benchmark$925,900$204,200$179,000
OttawaMLS HPI benchmark$637,700$143,700$124,700
HamiltonMLS HPI benchmark$728,400$162,800$141,800

Prices: provincial REALTOR association figures on CREA Stats (August 2026); Toronto (GTA): Toronto Regional Real Estate Board (August 2026); Ottawa: Ottawa Real Estate Board (August 2026); Hamilton: Cornerstone Association of REALTORS (Hamilton-Burlington) (August 2026). Incomes: this site's calculation, with the assumptions on the calculator page.

Toronto

The GTA’s MLS HPI benchmark home, at $925,900 in August 2026, needs about $204,200 of household income with the minimum down payment of $67,590. Putting 20% down lowers that to $179,000. More on the Toronto housing market.

Ottawa

Ottawa’s benchmark price was $637,700 in August 2026. A buyer putting 20% down, $127,540, would need about $124,700 a year; with the minimum $38,770, about $143,700. See the Ottawa housing market page.

Hamilton

In Hamilton-Burlington, the benchmark of $728,400 calls for roughly $162,800 of income at the minimum down payment and $141,800 with 20% down. The Hamilton housing market page breaks prices down by type.

Closing costs

Closing costs are on top of the down payment: see closing costs in Ontario.

Sources

The figures and rules on this page come from these sources, last checked against them between September 24, 2026 and September 25, 2026. How we check facts.

15 more sources