How much does it cost to buy a house in Canada?

Canada’s capital city finds itself in the middle of the pack as far as population and as far housing prices. Unlike the three cities more expensive than Ottawa, the average homebuyer doesn’t have to surpass the million-dollar mark. Renting: $1,645 monthly for a one-bedroom apartment; $2,009 monthly for a two-bedroom apartment

How much does a house cost in Montreal?

In Montreal, the average home costs less than half of an average home in Toronto. Renting: $1,489 monthly for a one-bedroom apartment; $1,952 monthly for a two-bedroom apartment Buying: $573,100 average price, with monthly mortgage payments of about $3,201

How much do Canadians spend on housing?

However, in Canada and a large part of the world, individuals and families spend a significant portion of their income on accessing safe and suitable housing. The average Canadian spends 45.9 per cent of their income to meet housing costs (which includes taxes, rent/mortgage payments and/or utilities).

Why is Ontario so expensive?

Ontario is Canada's largest province with over 14.7 million people, and is one of the most expensive provinces on a cost basis. This is partially explained by the province having some of the highest housing costs in Canada, especially around the Greater Toronto Area (GTA), where 48% of Ontarians call home.