The affordability of condominiums 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 36 percent of the average household income in 2021 making it the most expensive area in Canada to own a condominium.
Affordability of condominiums 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 condominiums in Canada 2nd quarter 2021, by market [Graph]. In Statista. Retrieved November 05, 2024, from https://www.statista.com/statistics/720853/affordability-of-condos-by-market-canada/
Royal Bank of Canada. "Affordability of condominiums in Canada 2nd quarter 2021, by market." Chart. October 6, 2021. Statista. Accessed November 05, 2024. https://www.statista.com/statistics/720853/affordability-of-condos-by-market-canada/
Royal Bank of Canada. (2021). Affordability of condominiums in Canada 2nd quarter 2021, by market. Statista. Statista Inc.. Accessed: November 05, 2024. https://www.statista.com/statistics/720853/affordability-of-condos-by-market-canada/
Royal Bank of Canada. "Affordability of Condominiums in Canada 2nd Quarter 2021, by Market." Statista, Statista Inc., 6 Oct 2021, https://www.statista.com/statistics/720853/affordability-of-condos-by-market-canada/
Royal Bank of Canada, Affordability of condominiums in Canada 2nd quarter 2021, by market Statista, https://www.statista.com/statistics/720853/affordability-of-condos-by-market-canada/ (last visited November 05, 2024)
Affordability of condominiums in Canada 2nd quarter 2021, by market [Graph], Royal Bank of Canada, October 6, 2021. [Online]. Available: https://www.statista.com/statistics/720853/affordability-of-condos-by-market-canada/
