Canada’s Topsy-Turvy Housing Affordability

Blog, Housing Affordability, David Seymour

The 7th Annual Demographia International Housing Affordability Survey was released by Frontier this Monday. It has been widely reported in print and on television and radio across the country. It takes the median house sale price and divides that figure by the median household income in each housing market. For example, in Regina the figures are:

Median house sale price: $213,000
Median household income: $69,500
Median Multiple: 3.1

All of the multiples for Canada are here:

As some general observations:

•Vancouver: Third Least Affordable amongst 325 major English speaking markets;
•British Columbia: Canada’s least affordable housing;
•Saskatoon: Now less affordable than Calgary and Edmonton;
•Montreal: Becomes less Affordable than Toronto;
•Windsor: Canada’s most Affordable metropolitan market;
•Atlantic Canada: Canada’s most affordable region.