Canadians earning average incomes may struggle to afford homes in the country’s urban centres, but new research from Zoocasa is highlighting real estate markets where homes are within reach.
and found that people earning the median income for their city could not afford a home at the average price tag in 10 of those markets.
At $79,000, the median income was lower in the Atlantic Canadian city compared with the other listed markets, but the average price of a home in Saint John was listed as $291,000 – far below the maximum home price threshold of $365,165 for median income earners.At just under $111,000, the Saskatchewan capital had the largest gap between the average price of a home and the affordable range for a median income earner.
People in cities with the highest median incomes would also find it difficult to buy a home, the research showed.
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