Planning to buy a home in Canada? Know the average housing costs in major cities
Housing has emerged as a major concern this year for Canadians, drawing significant focus to how fluctuating interest rates, rising population, natural migration trends, and other variables have affected housing expenses.
A CIC news report breaks down the costs of buying various kinds of housing in Canada's largest cities.
As per the report, the data was collected from listing websites like realtor.ca, and zillow.com, as well as housing boards like the Canadian Real Estate Association (CREA) and the Canadian Housing and Mortgage Corporation (CHMC).
The figures provided represent average housing prices, but actual costs can vary significantly depending on the neighborhood, timing of the purchase, and type of property, among other factors. These numbers should be viewed as a general reference rather than an exact measure of housing expenses in these areas.
Alberta
Calgary
Average price of a one-bedroom, one-bathroom apartment: $325,863 CAD;
Average price of a two-bedroom, two-bathroom apartment: $414,427 CAD;
Three-bedroom, two-bathroom properties: $443,443 CAD;
Townhouse: $482,774 CAD; and
Detached house $1,018,888 CAD.
British Columbia
Vancouver
• Average price of a one-bedroom, one-bathroom apartment: $597,051 CAD;
• Average price of a two-bedroom, two-bathroom apartment: $1,444,846 CAD;
• Three-bedroom, two-bathroom properties: $2,662,771 CAD;
• Townhouse: $1,626,282 CAD; and
• Detached house $8,493,824 CAD.
Surrey
• Average price of a one-bedroom, one-bathroom apartment: $451,920 CAD;
• Average price of a two-bedroom, two-bathroom apartment: $616,574 CAD;
• Three-bedroom, two-bathroom properties: $808,187 CAD;
• Townhouse: $1,239,000 CAD; and
• Detached house $2,364,226 CAD.
Manitoba
Winnipeg
• Average price of a one-bedroom, one-bathroom apartment: $159,567 CAD;
• Average price of a two-bedroom, two-bathroom apartment: $317,400 CAD;
• Three-bedroom, two-bathroom properties: $346,117 CAD;
• Townhouse: $391,575 CAD; and
• Detached house $459,325 CAD.
Nova Scotia
Halifax
• Average price of a one-bedroom, one-bathroom apartment: $471,092 CAD;
• Average price of a two-bedroom, two-bathroom apartment: $732,532 CAD;
• Three-bedroom, two-bathroom properties: $771,540 CAD;
• Townhouse: $578,833 CAD; and
• Detached house $764,766 CAD.
Ontario
Toronto
• Average price of a one-bedroom, one-bathroom apartment: $ 671,092 CAD;
• Average price of a two-bedroom, two-bathroom apartment: $ 920,588 CAD;
• Three-bedroom, two-bathroom properties: $2,952,402 CAD;
• Townhouse: $992,280 CAD; and
• Detached house $4,713,735 CAD.
Ottawa
• Average price of a one-bedroom, one-bathroom apartment: $399,544 CAD;
• Average price of a two-bedroom, two-bathroom apartment: $568,338 CAD;
• Three-bedroom, two-bathroom properties: $789,717 CAD;
• Townhouse: $629,665 CAD; and
• Detached house: $1,020,820 CAD.
Quebec
Montreal
• Average price of a one-bedroom, one-bathroom apartment: $420,616 CAD;
• Average price of a two-bedroom, two-bathroom apartment: $871,050 CAD;
• Three-bedroom, two-bathroom properties: $997,473 CAD;
• Townhouse: $782,850 CAD; and
• Detached house: $1,091,333 CAD.
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