The housing affordability in Canada was the lowest in Vancouver and the higher in Edmonton in 2023. In the third quarter of the year, the ratio of homeownership costs to income in Canada was 62.5 percent. On the other hand, in Vancouver, the ratio amounted to 102.6 percent.
Affordability of housing in Canada in 3rd quarter 2023, by market
The affordability measures are based on a 25% down payment, a 25-year mortgage loan at a five-year fixed rate, and are estimated on a quarterly basis for the major urban markets in Canada and a national composite. The measures use household income rather than family income to account for the growing number of unattached individuals in the housing market.
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Royal Bank of Canada. (December 20, 2023). Affordability of housing in Canada in 3rd quarter 2023, by market [Graph]. In Statista. Retrieved December 21, 2024, from https://www.statista.com/statistics/720693/affordability-of-housing-by-market-canada/
Royal Bank of Canada. "Affordability of housing in Canada in 3rd quarter 2023, by market." Chart. December 20, 2023. Statista. Accessed December 21, 2024. https://www.statista.com/statistics/720693/affordability-of-housing-by-market-canada/
Royal Bank of Canada. (2023). Affordability of housing in Canada in 3rd quarter 2023, by market. Statista. Statista Inc.. Accessed: December 21, 2024. https://www.statista.com/statistics/720693/affordability-of-housing-by-market-canada/
Royal Bank of Canada. "Affordability of Housing in Canada in 3rd Quarter 2023, by Market." Statista, Statista Inc., 20 Dec 2023, https://www.statista.com/statistics/720693/affordability-of-housing-by-market-canada/
Royal Bank of Canada, Affordability of housing in Canada in 3rd quarter 2023, by market Statista, https://www.statista.com/statistics/720693/affordability-of-housing-by-market-canada/ (last visited December 21, 2024)
Affordability of housing in Canada in 3rd quarter 2023, by market [Graph], Royal Bank of Canada, December 20, 2023. [Online]. Available: https://www.statista.com/statistics/720693/affordability-of-housing-by-market-canada/
