Planning to buy a home in Canada? Know the average housing costs in major cities

In 2024, housing has become a significant concern in Canada due to fluctuating interest rates, population growth, and migration trends. A CIC News report provides average home prices across major cities, revealing substantial variations: for insta...

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Housing has emerged as a major concern this year for Canadians, drawing significant focus to how fluctuating interest rates, rising population, natural migration trends, and other variables have affected housing expenses.

A CIC news report breaks down the costs of buying various kinds of housing in Canada's largest cities.

As per the report, the data was collected from listing websites like realtor.ca, and zillow.com, as well as housing boards like the Canadian Real Estate Association (CREA) and the Canadian Housing and Mortgage Corporation (CHMC).


The figures provided represent average housing prices, but actual costs can vary significantly depending on the neighborhood, timing of the purchase, and type of property, among other factors. These numbers should be viewed as a general reference rather than an exact measure of housing expenses in these areas.

Alberta
Calgary


  • Average price of a one-bedroom, one-bathroom apartment: $325,863 CAD;
  • Average price of a two-bedroom, two-bathroom apartment: $414,427 CAD;
  • Three-bedroom, two-bathroom properties: $443,443 CAD;
  • Townhouse: $482,774 CAD; and
  • Detached house $1,018,888 CAD.
British Columbia
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Vancouver

  • Average price of a one-bedroom, one-bathroom apartment: $597,051 CAD;
  • Average price of a two-bedroom, two-bathroom apartment: $1,444,846 CAD;
  • Three-bedroom, two-bathroom properties: $2,662,771 CAD;
  • Townhouse: $1,626,282 CAD; and
  • Detached house $8,493,824 CAD.
Surrey

  • Average price of a one-bedroom, one-bathroom apartment: $451,920 CAD;
  • Average price of a two-bedroom, two-bathroom apartment: $616,574 CAD;
  • Three-bedroom, two-bathroom properties: $808,187 CAD;
  • Townhouse: $1,239,000 CAD; and
  • Detached house $2,364,226 CAD.

Manitoba
Winnipeg


  • Average price of a one-bedroom, one-bathroom apartment: $159,567 CAD;
  • Average price of a two-bedroom, two-bathroom apartment: $317,400 CAD;
  • Three-bedroom, two-bathroom properties: $346,117 CAD;
  • Townhouse: $391,575 CAD; and
  • Detached house $459,325 CAD.
Nova Scotia
Halifax

  • Average price of a one-bedroom, one-bathroom apartment: $471,092 CAD;
  • Average price of a two-bedroom, two-bathroom apartment: $732,532 CAD;
  • Three-bedroom, two-bathroom properties: $771,540 CAD;
  • Townhouse: $578,833 CAD; and
  • Detached house $764,766 CAD.
Ontario
Toronto

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  • Average price of a one-bedroom, one-bathroom apartment: $ 671,092 CAD;
  • Average price of a two-bedroom, two-bathroom apartment: $ 920,588 CAD;
  • Three-bedroom, two-bathroom properties: $2,952,402 CAD;
  • Townhouse: $992,280 CAD; and
  • Detached house $4,713,735 CAD.

Ottawa
  • Average price of a one-bedroom, one-bathroom apartment: $399,544 CAD;
  • Average price of a two-bedroom, two-bathroom apartment: $568,338 CAD;
  • Three-bedroom, two-bathroom properties: $789,717 CAD;
  • Townhouse: $629,665 CAD; and
  • Detached house: $1,020,820 CAD.

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Quebec
Montreal

  • Average price of a one-bedroom, one-bathroom apartment: $420,616 CAD;
  • Average price of a two-bedroom, two-bathroom apartment: $871,050 CAD;
  • Three-bedroom, two-bathroom properties: $997,473 CAD;
  • Townhouse: $782,850 CAD; and
  • Detached house: $1,091,333 CAD.
Moving to Canada? Know the difference between visas and permits
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Understanding the distinction between a visa and a permit is crucial for anyone planning to visit, work, or study in Canada, as these documents grant different privileges and entail distinct responsibilities.

Understanding the distinction between a visa and a permit is crucial for anyone planning to visit, work, or study in Canada, as these documents grant different privileges and entail distinct responsi..
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A visa, issued by the Government of Canada, serves the sole purpose of permitting entry into the country or transit through a Canadian airport. It is a physical sticker placed in your passport, containing essential details like your name, date of birth, and the purpose of your visit (worker, student, or visitor), along with issuance and expiry dates.

Importantly, a visa does not confer the right to work or study in Canada. Its primary function is to facilitate legal entry into the country. Even if labeled as a worker or student visa, it does not grant work or study authorization.

A visa, issued by the Government of Canada, serves the sole purpose of permitting entry into the country or transit through a Canadian airport. It is a physical sticker placed in your passport, conta..
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For individuals from countries requiring visas, obtaining one before arrival is mandatory, typically through the Canadian Embassy or Visa Application Center (VAC). Failure to possess a valid visa can lead to delays or denial of boarding for flights to Canada.

Should a visa expire after arrival, renewal applications can be made within Canada. However, departing without a valid visa means being barred from re-entry, even with a valid work or study permit.

For individuals from countries requiring visas, obtaining one before arrival is mandatory, typically through the Canadian Embassy or Visa Application Center (VAC). Failure to possess a valid visa can..
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On the other hand, a permit is a separate document specifying permissions and limitations regarding work or study activities within Canada, including any associated restrictions or conditions. Unlike a visa, a permit directly authorizes work or study and must be presented to employers or educational institutions.

However, a permit alone does not grant entry or re-entry into Canada – that is the role of the visa.

On the other hand, a permit is a separate document specifying permissions and limitations regarding work or study activities within Canada, including any associated restrictions or conditions. Unlike..
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To ensure a smooth arrival in Canada, individuals from visa-requiring countries must obtain both a visa and a permit beforehand. Adequate preparation, including completing application processes and gathering necessary documentation, is essential.

To ensure a smooth arrival in Canada, individuals from visa-requiring countries must obtain both a visa and a permit beforehand. Adequate preparation, including completing application processes and g..
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For travelers from non-visa requiring countries, such as the United States or the European Union, entry into Canada is possible without a visa. However, a work or study permit must still be obtained at the Canadian border or Port of Entry to engage in relevant activities within the country.

For travelers from non-visa requiring countries, such as the United States or the European Union, entry into Canada is possible without a visa. However, a work or study permit must still be obtained ..
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Visas and permits may have different expiry dates. While a valid permit allows staying in Canada beyond a visa's expiration, leaving without a valid visa renders re-entry impossible, posing challenges, particularly for students intending to return between terms or after completing studies.


Visas and permits may have different expiry dates. While a valid permit allows staying in Canada beyond a visa's expiration, leaving without a valid visa renders re-entry impossible, posing challenge..
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