After a long period of relentless home price increases, affordability is starting to improve in a number of Canada’s most expensive cities. According to the National Bank of Canada’s third quarter Housing Affordability Monitor, the housing affordability composite index has backpedaled to historical averages thanks to a rise in incomes and lower mortgage rates. Still, how much you can afford and how long you’ll be saving for your downpayment varies dramatically from city to city.

Whether you’re moving to a new city or just curious to see how much further your Toronto-earned dollars go just down the highway in Hamilton, we broke down how much you’ll need to earn to afford an average home in Canada’s biggest cities.

Toronto

Income required for a non-condo home: $188,299
Average price of a non-condo home: $908,785
Income required for a condo: $117,235
Average price of a condo: $555,328

To no one’s surprise, Toronto ranks high for pricey Canadian real estate. Saving for a downpayment on a non-condo home takes around eight years and one month at a savings rate of 10 percent in this city. If you simply can’t wait that long, the average condo will take you three years and nine months to save for.

If you were to buy at the current average prices, you might like:

This three-bedroom detached at 61 McDonald Avenue, asking $918,000.

Or, one-bedroom 75 Portland Street #317, asking $555,000.

Hamilton

Income required for a non-condo home: $128,581
Average price of a non-condo home: $611,761
Income required for a condo: $96,425
Average price of a condo: $454,359

Homebuyers looking to save but stay close to Toronto have looked to Hamilton over the last few years for affordable-ish family-sized homes. If you’re in the market for a non-condo, saving for a downpayment will take half the time of Toronto, about four years and eight months. Condo-hopefuls have an easier time saving for a downpayment for the average condo, taking two years and 11 months to save for.

If you were to buy at the current average prices, you might like:

This three-bedroom detached at 31 Tidemore Hts, for $609,900.

Or try this one-bedroom condo at 112 King Street E #604 for $450,000.

Ottawa-Gatineau

Income required for a non-condo home: $95,478
Average price of a non-condo home: $449,894
Income required for a condo: $58,733
Average price of a condo: $276,750

With home prices well below those in other major Ontario cities (we’re looking at you, Toronto and Hamilton), affording a home in Ottawa is much more doable. In less than three years, you can scrape together enough for a downpayment on a non-condo home, or one year and nine months if condo living is more your style.

For that money, you could buy this bungalow at 24 Sunnycrest Drive, priced at $449,000.

Or, a two-bedroom condo at 152 Boul. de Lucerne #107 for $274,900.

Montreal

Income required for a non-condo home: $81,494
Average price of a non-condo home: $384,000
Income required for a condo: $61,101
Average price of a condo: $287,909

Montreal homebuyers are benefiting from lower home financing costs and higher incomes along with the historically much more affordable home prices relative to other major Canadian urban centres. Saving for a home will take you exactly three years, or a little less for condos at two years and three months.

If you’re looking for a two-bedroom detached, 10520 Rue Rancourt is available for $389,000.

Or, for condo-dwellers, you could buy 3300 Avenue Troie #203 for $279,000.

Vancouver

Income required for a non-condo home: $219,239
Average price of a non-condo home: $1,226,762
Income required for a condo: $127,948
Average price of a condo: $608,610

It’s tough out there for those house hunting on the West Coast. Luckily for condo-shoppers, Vancouver saw the second largest affordability improvement in the condo market since 2009 in the third quarter. It takes about four years and seven months to save for a condo. For prospective non-condo owners, however, the downpayment saving prospects are pretty bleak — it would take 31 years and six months to save for the average home.

For $1,225,000, you could buy this four-bedroom detached at 3035 Charles Street.

Or, there’s the one-bedroom 2525 Blenheim Street #403 going for $609,000

Calgary

Income required for a non-condo home: $104,111
Average price of a non-condo home: $490,576
Income required for a condo: $54,353
Average price of a condo: $256,111

After years of persistent economic hardship, incomes are rising in Calgary, which means affordability is improving. In just a year and a half, you could scrape together enough for a downpayment on a condo. Non-condo buyers will have to save a little longer, with the average save time just under three years.

You could buy 120 Strathcona CL SW, a three-bedroom detached with potential for two extra bedrooms, listed at $494,900.

Or, try 955 McPherson Road NE, a one-bedroom condo for $250,000.

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