Mortgage Broker News has compiled recent data from Point2Homes to determine the 10 most affordable Canadia real estate markets. The Canada Mortgage and Housing Corporation defines "affordable housing" as when households spend less than 30% of their gross income on their mortgage, and in these 10 markets the morgage takes up less than 15% of a houseold's average income:


10. Trois-Rivieres, QC
Benchmark home price (2020): $409,567
Average household income (2020): $121,216
Share of mortgage in average income (2020): 14.5%


9. Regina, SK
Benchmark home price: $322,624
Average household income: $104,036
Share of mortgage in average income: 13.3%


8. Winnipeg, MB
Benchmark home price: $259,722
Average household income: $86,003
Share of mortgage in average income: 12.9%


7. Sherbrooke, QC
Benchmark home price: $249,816
Average household income: $84,189
Share of mortgage in average income: 12.7%


6. Saguenay, QC
Benchmark home price: $274,150
Average household income: $94,646
Share of mortgage in average income: 12.4%


5. Oshawa, ON
Benchmark home price: $276,733
Average household income: $97,634
Share of mortgage in average income: 12.1%


4. Quebec, QC
Benchmark home price: $293,289
Average household income: $104,890
Share of mortgage in average income: 12%


3. London, ON
Benchmark home price: $316,789
Average household income: $118,868
Share of mortgage in average income: 11.4%


2. Windsor, ON
Benchmark home price: $253,678
Average household income: $95,287
Share of mortgage in average income: 11.4%


1. Halifax, NS
Benchmark home price: $212,410
Average household income: $83,869
Share of mortgage in average income: 10.8%




Source: https://www.mortgagebrokernews.ca/news/what-are-canadas-most-affordable-real-estate-markets-337302.aspx

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