Estimate your monthly mortgage payment based on New Brunswick home prices. New Brunswick has the lowest average mortgage payment in Canada at $1,342/month, making it one of the most accessible provinces for homeownership.
The average home price in New Brunswick is approximately $310,000. With a minimum down payment of $15,500 (5%) and CMHC insurance, the total mortgage would be approximately $306,189. At a 4.25% interest rate over 25 years, the monthly mortgage payment would be $1,656.
5-year term summary:
25-year summary:
New Brunswick mortgage payment examples
| Home Price | Down Payment | Mortgage + CMHC | Monthly at 4% | Monthly at 5% | Monthly at 6% |
|---|---|---|---|---|---|
| $150,000 | $15,000 | $139,185 | $733 | $813 | $896 |
| $200,000 | $20,000 | $185,580 | $978 | $1,084 | $1,194 |
| $250,000 | $25,000 | $232,200 | $1,224 | $1,356 | $1,495 |
| $310,000 | $31,000 | $287,868 | $1,517 | $1,682 | $1,854 |
| $400,000 | $40,000 | $371,160 | $1,956 | $2,168 | $2,389 |
| $500,000 | $50,000 | $463,950 | $2,445 | $2,710 | $2,987 |
New Brunswick land transfer tax
New Brunswick charges a flat land transfer tax of 1% of the assessed property value. Note that the tax is based on the assessed value (which may differ from the purchase price), or the purchase price — whichever is greater.
Example: On a $310,000 home, the land transfer tax would be approximately $3,100.
New Brunswick does not offer a first-time homebuyer rebate on land transfer tax.
New Brunswick property tax rates
New Brunswick property taxes include both a municipal rate and a provincial property tax:
| Municipality | Approximate Combined Rate | Annual Tax on $310,000 Home |
|---|---|---|
| Moncton | 1.43% | $4,433 |
| Fredericton | 1.46% | $4,526 |
| Saint John | 1.79% | $5,549 |
| Miramichi | 1.55% | $4,805 |
| Bathurst | 1.62% | $5,022 |
New Brunswick charges a provincial property tax in addition to municipal rates. Owner-occupied homes receive a credit that reduces monthly costs.
New Brunswick housing cost breakdown
| Cost Category | Typical Monthly Range |
|---|---|
| Mortgage payment (on average home) | $1,600 – $1,800 |
| Property taxes | $370 – $460 |
| Home insurance | $80 – $150 |
| Utilities & heating | $200 – $400 |
| Maintenance (1% of value/year) | $260 – $310 |
Total estimated monthly cost: $2,510 – $3,120
This is the lowest total housing cost of any province — roughly half of what you’d pay in Ontario or BC.
New Brunswick-specific homebuyer considerations
- HST — New Brunswick charges 15% HST (5% federal + 10% provincial) on new construction. The GST/HST New Housing Rebate can reduce the tax on new homes.
- Heating costs — Like other Atlantic provinces, heating costs can be significant. Oil heat is still common. Budget $2,000–$3,500/year for heating.
- Provincial property tax — New Brunswick charges a provincial property tax on all real property. Owner-occupied residential properties receive a credit.
- Bilingual province — New Brunswick is Canada’s only officially bilingual province. This can affect legal documents and service availability.
- First Home Savings Account (FHSA) — See the FHSA calculator.
New Brunswick housing market overview
- Moncton — The most active market, with average prices around $320,000–$350,000. Strong population growth has increased demand.
- Fredericton — The capital city, with average prices around $300,000–$330,000.
- Saint John — Slightly more affordable at $250,000–$290,000. The port city is attracting investment and new residents.
- Rural New Brunswick — Extremely affordable, with homes available under $150,000 in many areas.
Related calculators
- New Brunswick Land Transfer Tax Calculator — Calculate your NB land transfer tax
- Mortgage Affordability Calculator — How much house can you afford?
- Closing Costs Calculator — Estimate all purchase costs