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.
Table of Contents
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
