The affordability of single-family detached homes in Canada in the second quarter of 2021, by market, was calculated as a share of mortgage payment in average household income. The mortgage payments in Vancouver constituted 85.4 percent of average household income in the second quarter of 2021, making it the most expensive area in Canada to own a single-family home. The average mortgage payment in Canada constituted 49.7 percent of the average household income.
Affordability of single-family detached homes in Canada 2nd quarter 2021, 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 14 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. (October 6, 2021). Affordability of single-family detached homes in Canada 2nd quarter 2021, by market [Graph]. In Statista. Retrieved November 03, 2024, from https://www.statista.com/statistics/720848/affordability-of-single-family-detached-homes-by-market-canada/
Royal Bank of Canada. "Affordability of single-family detached homes in Canada 2nd quarter 2021, by market." Chart. October 6, 2021. Statista. Accessed November 03, 2024. https://www.statista.com/statistics/720848/affordability-of-single-family-detached-homes-by-market-canada/
Royal Bank of Canada. (2021). Affordability of single-family detached homes in Canada 2nd quarter 2021, by market. Statista. Statista Inc.. Accessed: November 03, 2024. https://www.statista.com/statistics/720848/affordability-of-single-family-detached-homes-by-market-canada/
Royal Bank of Canada. "Affordability of Single-family Detached Homes in Canada 2nd Quarter 2021, by Market." Statista, Statista Inc., 6 Oct 2021, https://www.statista.com/statistics/720848/affordability-of-single-family-detached-homes-by-market-canada/
Royal Bank of Canada, Affordability of single-family detached homes in Canada 2nd quarter 2021, by market Statista, https://www.statista.com/statistics/720848/affordability-of-single-family-detached-homes-by-market-canada/ (last visited November 03, 2024)
Affordability of single-family detached homes in Canada 2nd quarter 2021, by market [Graph], Royal Bank of Canada, October 6, 2021. [Online]. Available: https://www.statista.com/statistics/720848/affordability-of-single-family-detached-homes-by-market-canada/
