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.
Profit from the additional features of your individual account
Currently, you are using a shared account. To use individual functions (e.g., mark statistics as favourites, set
statistic alerts) please log in with your personal account.
If you are an admin, please authenticate by logging in again.
Learn more about how Statista can support your business.
Royal Bank of Canada. (October 6, 2021). Affordability of single-family detached homes in Canada 2nd quarter 2021, by market [Graph]. In Statista. Retrieved December 26, 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 December 26, 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: December 26, 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 December 26, 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/
