Average House Price in Canada by City and Province

Canada’s national average home price was $668,219 in August 2026, a change of 0.6% from a year earlier (Canadian Real Estate Association). That single number hides a wide spread: in August 2026 the Toronto-area average was $993,410, and in August 2026 the benchmark home in Regina cost $348,900. This page gives prices for the major cities and every province with their dates, then what it takes to buy at those prices and how prices have moved since 2015. For the market detail in each city (sales, listings, prices by neighbourhood), see the housing market reports; for renting instead, see average rent, and for every other household cost, our cost of living guides.

Average and benchmark prices: what they measure

Real estate boards publish two kinds of price. An average is the total value of homes sold in the month divided by the number sold, so it rises when more expensive homes happen to sell. A benchmark (the MLS Home Price Index) prices a typical home with fixed features, so it moves only when prices for comparable homes move. Some boards publish only one of the two, so the tables below say which is which. CREA’s national benchmark was $657,500 in August 2026, a change of -3.0% from a year earlier, against the $668,219 average.

Average house price by city

Prices from each city’s real estate board (named on its housing market page) and CREA, each for its board’s latest month: boards release their figures on different days. Quebec City and Halifax are aggregator estimates of board data; Montreal and Winnipeg are each board’s total sales volume divided by its number of sales, and Winnipeg’s change compares that figure with the same month a year earlier; Saskatoon’s and Regina’s changes are the board’s own wording, since it gives no exact figure; Victoria’s board publishes no all-types figure, so the value is the sales-weighted average of its single-family, condo and townhouse averages.

The Toronto-area average is 2.8 times the Regina benchmark, though the two are different measures. Where people move also differs by province: in 2025 Ontario’s net interprovincial migration was -22,871 and Alberta’s was +21,387 (Statistics Canada). What the rest of a budget costs in each city is in the city guides, such as cost of living in Toronto, Vancouver and Calgary, and the cities with the lowest overall costs are compared in most affordable cities in Canada.

Average house price by province

Provincial REALTOR associations on CREA Stats; the British Columbia, Alberta, Saskatchewan and Quebec averages and changes, and New Brunswick’s change, via an aggregator of CREA data. Averages of all residential sales in the month shown (Manitoba’s latest release is a month earlier than the others).

British Columbia and Ontario had the two highest provincial averages, and New Brunswick, Saskatchewan and Newfoundland and Labrador the three lowest. How housing fits into each province’s full cost of living is on the cost of living by province page.

Prices by property type

Within one city, the type of home matters as much as the location. Three markets whose boards publish prices by type, each for its board’s latest month.

Toronto

TRREB, August 2026:

Vancouver

Greater Vancouver REALTORS, September 2026:

Calgary

CREB, September 2026:

Greater Vancouver REALTORS publishes benchmark prices (MLS Home Price Index); TRREB and CREB publish averages.

Income needed to buy a home by city

These figures assume a 20% down payment, a 25-year amortization and the Bank of Canada 5-year conventional mortgage rate (6.09%, September 30, 2026), compounded semi-annually. “Income required” is the gross household income at which principal and interest plus $354 a month of property tax and $150 of heating equal 32% of income (the gross debt service ratio). These are this site’s working assumptions, not a lender’s test, and they leave out the mortgage stress test. Lenders check that you could afford the payments at the greater of your contract rate plus 2% or 5.25%, a floor set by OSFI for uninsured mortgages and by the federal government's mortgage insurance rules (the Minister of Finance's Eligible Mortgage Loan Regulations) for insured ones. Other debts, such as a car loan, reduce what you can borrow. The hourly wage assumes 40 hours a week for 52 weeks.

Home prices as in the city table above (Winnipeg: the board’s dollar volume divided by its number of sales).

The median income of Canadian families and unattached individuals was $86,000 in 2024 (Canadian Income Survey), against $148,234 needed for a national-average-priced home on these assumptions. The mortgage affordability calculator and the income needed to buy a house page work it out with your own income, debts and down payment.

Historical average home prices in Canada

Source: Canadian Real Estate Association (CREA) forecast releases, which report each year’s national average. The 2020, 2024 and 2025 values are derived from the percentage change CREA reported in the following release; 2021 and 2023 are CREA’s near-final estimates. The last row is the latest single month (August 2026, released September 15, 2026), not a full-year average. Annual changes from 2017 are computed from the stored levels.

From the 2020 annual average ($567,200) to the record monthly average of $816,720 in February 2022, the national average rose 44%. The Bank of Canada raised its policy rate from 0.25% to 0.50% on March 2, 2022, the first of a series of increases, and the annual average was $680,686 in 2023. As of August 2026, the national average is 18% above the 2020 annual average and 18% below the February 2022 record. For an analysis of where prices stand against long-run measures, see is Canada in a housing bubble?

Price-to-income ratio by city

A price-to-income ratio divides a home price by household income: the number of years of gross income the home costs. The table uses each city’s home price from the city table and its median household income from the 2021 Census (2020 incomes, the latest census figures for every city).

Incomes: 2021 Census median total household income (2020 incomes, Statistics Canada Table 98-10-0061); Ottawa uses the Ontario part of Ottawa-Gatineau. Incomes have risen since 2020, so today’s ratios are lower than shown; the prices mix averages and benchmarks, as in the city table.

How the gap between prices and incomes opened over time is covered in home prices vs household income in Canada, and what it means for younger buyers in the generational homeownership gap.

Monthly mortgage payment vs average rent

The table compares the monthly mortgage payment on each city’s home price with the average 3-bedroom asking rent. The gap is the extra monthly cost of owning over renting, before property tax, condo fees, insurance and maintenance, and before the equity each payment builds.

Mortgage payment: 20% down, 25-year amortization, Bank of Canada 5-year conventional rate (6.09%), semi-annual compounding. Rent: Statistics Canada average asking rent for a 3-bedroom apartment, second quarter of 2026 (Table 46-10-0092-01).

In Vancouver the payment is 1.3 times the average 3-bedroom asking rent, in Toronto 1.6 times and in Winnipeg 1.0 times. Whether owning is worth that difference depends on how long you stay, future prices and what the down payment would earn elsewhere; the rent vs buy calculator runs the comparison with your numbers. Rents for every city and province are on the average rent page.

Buyer’s and seller’s markets

CREA describes a seller’s market as one with less than 3.6 months of inventory and a buyer’s market as one with more than 6.4 months, based on one standard deviation either side of the long-term average. Nationally there were 4.8 months of inventory at the end of August 2026. The Toronto area had 4.6 months of supply in August 2026 (TRREB), Calgary 3.9 in September 2026 (CREB) and Kitchener-Waterloo 3.5 in August 2026 (Cornerstone). The housing market reports track these for each city.

Related pages

• Housing market reports by city and province
• Housing affordability in Canada
• The housing crisis in Canada explained
• Average rent in Canada by city and province
• Average household expenses in Canada
• Mortgage affordability calculator
• Land transfer tax calculator