What is the average house price in Canada in 2026?

The national average home price in Canada is approximately $653,000 as of early 2026. However, this figure is heavily skewed by expensive markets like Toronto ($1,009,000) and Vancouver ($1,206,000). The median price across all markets is closer to $500,000.

What is the cheapest city to buy a house in Canada?

Among major cities, the most affordable housing markets in 2026 are in the Prairies and Atlantic Canada. Regina, Saskatoon, and Edmonton have average home prices between $330,000 and $420,000. Moncton and Saint John in New Brunswick are also affordable, with average prices below $400,000.

What is the most expensive city to buy a house in Canada?

Vancouver is the most expensive major city with an average home price of $1,206,000, followed by Victoria at $1,307,000 (reflecting high single-family prices) and Toronto at $1,009,000. Among property types, detached homes in Toronto average $1,326,000 and in Vancouver average $1,964,000.

Are house prices going up or down in Canada in 2026?

It depends on the region. In early 2026, prices are declining in Toronto (down 7.0%) and Vancouver (down 1.5%) while rising in Calgary (up 2.4%), Montreal (up 6.1%), and several Prairie and Atlantic markets. The national picture is mixed, with lower interest rates supporting demand but high inventory in some markets keeping prices flat.

How much has the average house price changed since 2020?

The national average home price rose from approximately $531,000 in 2020 to a peak of $816,000 in early 2022 (a 54% increase), then declined to around $656,000 by 2024 as interest rates rose. Prices stabilized in 2025 and are approximately $653,000 in early 2026 — about 23% higher than pre-pandemic levels.

Why is housing so expensive in Toronto and Vancouver?

The high prices in Toronto and Vancouver are driven by constrained land supply, geographic limitations (mountains and ocean in Vancouver, greenbelt in Toronto), high immigration-driven population growth, restrictive zoning that limits new housing construction, and their positions as major economic centres attracting domestic and international investment.

What income do I need to buy an average house in Canada?

Based on the national average price of $653,000 and current mortgage rates, a household income of approximately $120,000-$140,000 is needed. In Toronto, you need roughly $185,000+, while in Vancouver you need $220,000+. In affordable cities like Regina or Edmonton, household income of $70,000-$90,000 is sufficient. Use our mortgage affordability calculator for an exact figure.

How does Canada compare to other countries for house prices?

Canada has some of the most expensive housing relative to income in the world. The average price-to-income ratio nationally is approximately 8-9×, compared to 5-6× in the United States and 3-4× in many European countries. Vancouver and Toronto rank among the most unaffordable cities globally by most housing affordability indices.

Average House Price in Canada by City and Province (2026)

Average house price by city in Canada

Average home prices for major Canadian cities, ranked from highest to lowest. Data is from local real estate boards as of early 2026.

Rank	City	Average Home Price	Year-over-Year Change	Market Conditions
1	Victoria	$1,307,400	-1.8%	Balanced
2	Vancouver	$1,206,180	-1.5%	Buyer’s market
3	Toronto (GTA)	$1,008,968	-7.0%	Buyer’s market
4	Waterloo Region	$753,316	-0.3%	Seller’s market
5	Hamilton	$734,639	-3.0%	Balanced
6	Montreal	$656,708	+6.1%	Seller’s market
7	Ottawa	$641,436	-4.3%	Balanced
8	Calgary	$627,776	+2.4%	Balanced
9	London, ON	$624,550	-2.3%	Buyer’s market
10	Winnipeg	$379,500	+3.1%	Balanced
11	Edmonton	$415,136	+5.8%	Balanced
12	Saskatoon	$389,900	+4.6%	Seller’s market
13	Regina	$331,800	+3.2%	Balanced
—	National Average	$653,000	-1.2%	Mixed

Sources: TRREB, REBGV, CREA, local real estate boards. All figures represent average residential sale prices.

For a detailed breakdown of any market, see the full housing market report for that city.

Average home price by property type

Prices vary dramatically by property type. Here is the breakdown for the three largest markets:

Toronto

Property Type	Average Price	Y/Y Change
Detached	$1,325,654	-8.3%
Semi-Detached	$1,027,376	-4.9%
Townhouse	$930,779	-6.1%
Condo Apartment	$626,650	-8.9%
All Types	$1,008,968	-7.0%

Vancouver

Property Type	Average Price	Y/Y Change
Detached	$1,964,000	-2.1%
Townhouse	$1,103,500	-0.8%
Condo Apartment	$745,500	-1.2%
All Types	$1,206,180	-1.5%

Calgary

Property Type	Average Price	Y/Y Change
Detached	$762,400	+1.9%
Semi-Detached	$590,200	+3.8%
Townhouse	$428,300	+4.2%
Condo Apartment	$315,600	+5.1%
All Types	$627,776	+2.4%

Average home price by province

Province	Average Home Price	Y/Y Change
British Columbia	$942,000	-1.3%
Ontario	$843,000	-4.8%
Quebec	$534,000	+5.9%
Alberta	$498,000	+4.2%
Manitoba	$361,000	+2.8%
Saskatchewan	$349,000	+3.5%
Nova Scotia	$415,000	+1.2%
New Brunswick	$331,000	+6.7%
Newfoundland & Labrador	$298,000	+2.4%
Prince Edward Island	$370,000	+0.8%
Canada	$653,000	-1.2%

Source: CREA, provincial real estate associations. National and provincial figures include all residential property types.

Income required to buy a home by city

Based on current average home prices, a 20% down payment, a 25-year amortization, and a 4.5% mortgage rate.

City	Average Price	Down Payment (20%)	Mortgage	Income Required	Hourly Wage
Victoria	$1,307,400	$261,480	$1,045,920	$213,000	$102
Vancouver	$1,206,180	$241,236	$964,944	$197,000	$95
Toronto	$1,008,968	$201,794	$807,174	$165,000	$79
Hamilton	$734,639	$146,928	$587,711	$120,000	$58
Montreal	$656,708	$131,342	$525,366	$107,000	$51
Ottawa	$641,436	$128,287	$513,149	$105,000	$50
Calgary	$627,776	$125,555	$502,221	$103,000	$49
Edmonton	$415,136	$83,027	$332,109	$68,000	$33
Saskatoon	$389,900	$77,980	$311,920	$64,000	$31
Winnipeg	$379,500	$75,900	$303,600	$62,000	$30
Regina	$331,800	$66,360	$265,440	$54,000	$26

For an exact calculation based on your income and debts, use the mortgage affordability calculator or the income to afford home calculator.

Historical average home prices in Canada

National average home price trend from CREA:

Year	National Average	Annual Change
2015	$443,000	+9.6%
2016	$490,000	+10.6%
2017	$510,000	+4.1%
2018	$489,000	-4.1%
2019	$500,000	+2.2%
2020	$531,000	+6.2%
2021	$713,000	+34.3%
2022	$704,000	-1.3%
2023	$659,000	-6.4%
2024	$656,000	-0.5%
2025	$660,000	+0.6%
2026 (YTD)	$653,000	-1.2%

Source: Canadian Real Estate Association (CREA). Annual figures are full-year averages except 2026 (year-to-date).

The peak national average price was in early 2022, driven by pandemic-era demand and historically low interest rates. Prices then corrected as the Bank of Canada raised rates aggressively in 2022-2023.

Price-to-income ratio by city

The price-to-income ratio measures how many years of average household income it takes to buy an average home. A ratio above 5 is generally considered unaffordable by international standards.

City	Average Home Price	Median Household Income	Price-to-Income Ratio
Vancouver	$1,206,180	$95,000	12.7×
Victoria	$1,307,400	$94,000	13.9×
Toronto	$1,008,968	$98,000	10.3×
Hamilton	$734,639	$88,000	8.3×
Ottawa	$641,436	$102,000	6.3×
Montreal	$656,708	$78,000	8.4×
Calgary	$627,776	$110,000	5.7×
Edmonton	$415,136	$102,000	4.1×
Winnipeg	$379,500	$82,000	4.6×
Saskatoon	$389,900	$90,000	4.3×
Regina	$331,800	$92,000	3.6×

Edmonton, Winnipeg, Saskatoon, and Regina are the only major Canadian cities with price-to-income ratios that most international housing analysts consider affordable (below 5×).

Average home price vs average rent

For those deciding between buying and renting, here is how monthly ownership costs compare to average rents:

City	Home Price	Monthly Mortgage*	Average 1-BR Rent	Buy vs Rent Gap
Vancouver	$1,206,180	$5,340	$2,600	+$2,740
Toronto	$1,008,968	$4,470	$2,350	+$2,120
Calgary	$627,776	$2,780	$1,750	+$1,030
Ottawa	$641,436	$2,840	$1,900	+$940
Montreal	$656,708	$2,910	$1,750	+$1,160
Edmonton	$415,136	$1,840	$1,400	+$440
Winnipeg	$379,500	$1,680	$1,350	+$330

Mortgage payment based on 20% down, 25-year amortization, 4.5% rate. Does not include property tax, insurance, or maintenance.

The gap between monthly ownership costs and rent is narrowest in Prairie cities, where buying can be competitive with renting. In Vancouver and Toronto, the ownership premium remains large. See the rent vs buy calculator for a personalized comparison.

Housing market conditions explained

Understanding whether a market favours buyers or sellers helps set expectations for negotiations and offer strategy.

Metric	Buyer’s Market	Balanced Market	Seller’s Market
Months of inventory	6+ months	4-6 months	Under 4 months
Prices	Declining or flat	Stable	Rising
Offers	Fewer competing bids	Variable	Multiple offers common
Conditions	Buyers can include conditions	Negotiable	Often condition-free
Negotiation	More room to negotiate	Even	Limited leverage

Current market conditions vary widely across Canada — Toronto and Vancouver are in buyer’s territory with elevated inventory, while Calgary, Saskatoon, and Montreal are more balanced or seller-friendly.

Housing Market Reports — Detailed city-by-city housing data and analysis
Mortgage Affordability Calculator — How much home can you afford?
Income to Afford Home Calculator — Income needed for a specific home price
Mortgage Calculator — Calculate your monthly payment
Land Transfer Tax Calculator — Closing costs by province
Average Rent by City — Rental data across Canadian cities
Income in Canada — Average and median income by province