How much does a home cost in your province? Canada’s housing market varies dramatically from coast to coast. Here’s the latest data on average home prices.
Average Home Price by Province (2026)
| Province/Territory | Average Home Price | Year-Over-Year Change |
|---|---|---|
| British Columbia | $958,000 | -2.1% |
| Ontario | $868,000 | -1.8% |
| Alberta | $485,000 | +6.2% |
| Quebec | $518,000 | +4.5% |
| Manitoba | $362,000 | +3.8% |
| Saskatchewan | $325,000 | +2.9% |
| New Brunswick | $318,000 | +5.1% |
| Nova Scotia | $395,000 | +3.2% |
| Prince Edward Island | $372,000 | +2.4% |
| Newfoundland & Labrador | $278,000 | +1.8% |
| Northwest Territories | $398,000 | +1.2% |
| Nunavut | $410,000 | +0.8% |
| Yukon | $495,000 | +2.1% |
| National Average | $670,000 | +0.5% |
Source: Canadian Real Estate Association (CREA), 2025-2026 data.
Average Home Price by Major City
| City | Average Price | Benchmark Price | Type Most Sold |
|---|---|---|---|
| Vancouver | $1,195,000 | $1,175,000 | Condos |
| Toronto | $1,085,000 | $1,065,000 | Condos |
| Victoria | $885,000 | $870,000 | Single-family |
| Ottawa | $665,000 | $640,000 | Single-family |
| Hamilton | $785,000 | $760,000 | Single-family |
| Calgary | $565,000 | $545,000 | Single-family |
| Edmonton | $395,000 | $380,000 | Single-family |
| Montreal | $555,000 | $530,000 | Condos |
| Halifax | $475,000 | $450,000 | Single-family |
| Winnipeg | $365,000 | $350,000 | Single-family |
| Saskatoon | $340,000 | $325,000 | Single-family |
| Regina | $318,000 | $305,000 | Single-family |
| St. John’s | $290,000 | $275,000 | Single-family |
| Fredericton | $305,000 | $290,000 | Single-family |
How Much Income Do You Need?
Using the guideline that housing costs should be under 30% of gross income, here’s the income needed to afford the average home in each province (with 20% down, 25-year amortization at 5%):
| Province | Avg. Price | Down Payment (20%) | Mortgage | Monthly Payment | Income Needed |
|---|---|---|---|---|---|
| British Columbia | $958,000 | $191,600 | $766,400 | $4,459 | $178,400 |
| Ontario | $868,000 | $173,600 | $694,400 | $4,040 | $161,600 |
| Alberta | $485,000 | $97,000 | $388,000 | $2,258 | $90,300 |
| Quebec | $518,000 | $103,600 | $414,400 | $2,411 | $96,500 |
| Manitoba | $362,000 | $72,400 | $289,600 | $1,685 | $67,400 |
| Saskatchewan | $325,000 | $65,000 | $260,000 | $1,513 | $60,500 |
For a personalized calculation, use our Canadian mortgage affordability calculator.
Home Price Trends Over Time
National average home prices over the last decade:
| Year | Average Home Price | Annual Change |
|---|---|---|
| 2016 | $473,000 | +10.0% |
| 2017 | $496,000 | +4.9% |
| 2018 | $488,000 | -1.6% |
| 2019 | $500,000 | +2.5% |
| 2020 | $567,000 | +13.4% |
| 2021 | $720,000 | +27.0% |
| 2022 | $704,000 | -2.2% |
| 2023 | $657,000 | -6.7% |
| 2024 | $667,000 | +1.5% |
| 2025 | $670,000 | +0.5% |
The 2020-2021 surge (+40%) driven by low interest rates and pandemic demand has largely corrected, but prices remain well above pre-pandemic levels.
Average Home Price by Property Type
| Property Type | National Average | Vancouver | Toronto | Calgary | Montreal |
|---|---|---|---|---|---|
| Detached | $790,000 | $1,850,000 | $1,385,000 | $615,000 | $620,000 |
| Semi-detached | $640,000 | $1,250,000 | $1,050,000 | $470,000 | $530,000 |
| Townhouse | $550,000 | $985,000 | $815,000 | $385,000 | $440,000 |
| Condo | $420,000 | $740,000 | $660,000 | $295,000 | $395,000 |
Home Affordability Snapshot
| Metric | Amount |
|---|---|
| Average home price | $670,000 |
| Median household income | $75,000 |
| Price-to-income ratio | 8.9x |
| Minimum down payment (5% on first $500K + 10% rest) | $42,000 |
| Mortgage stress test rate | ~7.2% |
| CMHC mortgage insurance required? | Yes, if <20% down |
For most Canadians, saving for a down payment is the biggest barrier. See our down payment calculator and learn about the FHSA (First Home Savings Account) for tax-advantaged saving.
Key Takeaways
- National average is $670,000 but varies from $278,000 (Newfoundland) to $958,000 (BC)
- BC and Ontario account for the bulk of expensive housing — Alberta and the Prairies remain relatively affordable
- Prices are 40%+ above pre-pandemic levels despite the 2022-2023 correction
- The price-to-income ratio of 8.9x means saving for a home in Canada takes nearly a decade
- Calgary and Edmonton have seen the strongest recent growth, driven by interprovincial migration from BC and Ontario