Housing has become a vital issue for Canadians in 2024, with much attention given to the impact that changing rates of interest, increase in population, natural emigration patterns, & other factors have had on costs of housing. This blog shows the average cost of buying a home across Canada’s cities. So, let’s discuss in detail.
The following guide breaks down the cost of buying various kinds of housing in Canada’s largest cities. The largest city or metropolitan center is considered for every province or territory. Specifically, the guide covers the cost of buying a:
- One-bedroom, one-bathroom apartment
- Two-bedroom, two-bathroom apartment
- Three-bedroom, two-bathroom properties
- Townhouse
- Detached house
Data was collected from listing websites like realtor.ca, & zillow.com, as well as housing boards like the Canadian Real Estate Association (CREA) and the Canadian Housing & Mortgage Corporation (CHMC).
Note: The data presented include average housing prices. However, these might vary substantially depending on neighborhood, time of purchase, and property type. It is suggested that these figures be used as a guide and not a definitive measure of housing costs in these locations.
Alberta
Calgary
- Average price of a one-bedroom, one-bathroom apartment: CAD 325,863
- Average price of a two-bedroom, two-bathroom apartment: CAD 414,427
- Three-bedroom, two-bathroom properties: CAD 443,443
- Townhouse: CAD 482,774
- Detached house $1,018,888 CAD
Edmonton
- Average price of a one-bedroom, one-bathroom apartment: CAD 152,877
- Average price of a two-bedroom, two-bathroom apartment: CAD 278,273
- Three-bedroom, two-bathroom properties: CAD 401,765
- Townhouse: CAD 288,968
- Detached house CAD 521,238
According to the CREA, the average price of all available housing in Alberta in July 2024 was CAD 486,828, representing an 8.2% increase from 2023.
British Columbia
The average cost of buying a home across Canada’s cities varies on various factors. Another city is British Columbia.
Vancouver
- Average price of a one-bedroom, one-bathroom apartment: CAD 597,051
- Average price of a two-bedroom, two-bathroom apartment: CAD 1,444,846
- Three-bedroom, two-bathroom properties: CAD 2,662,771
- Townhouse: $1,626,282 CAD
- Detached house $8,493,824 CAD
Surrey
- Average price of a one-bedroom, one-bathroom apartment: CAD 451,920
- Average price of a two-bedroom, two-bathroom apartment: CAD 616,574
- Three-bedroom, two-bathroom properties: CAD 808,187
- Townhouse: $1,239,000 CAD
- Detached house $2,364,226 CAD
According to the CREA, the average price of all available housing in British Columbia in July 2024 was CAD 962,537, demonstrating a -0.5% decrease from 2023.
Manitoba
Winnipeg
- Average price of a one-bedroom, one-bathroom apartment: CAD 159,567
- Average price of a two-bedroom, two-bathroom apartment: CAD 317,400
- Three-bedroom, two-bathroom properties: CAD 346,117
- Townhouse: CAD 391,575
- Detached house CAD 459,325
According to the CREA, the average price of all available housing in Manitoba in July 2024 was CAD 376,770, representing a 6.9% increase from 2023.
New Brunswick
Moncton
- Average price of a one-bedroom, one-bathroom apartment: Data not available
- Average price of a two-bedroom, two-bathroom apartment: CAD 373,755
- Three-bedroom, two-bathroom properties: CAD 307,520
- Townhouse: CAD 289,291
- Detached house CAD 374,267
According to the CREA, the average price of all available housing in New Brunswick in July 2024 was CAD 308,800, showcasing a 6.4% increase from 2023.
Newfoundland and Labrador
Exploring Newfoundland and Labrador? Discover how the average cost of buying a home across Canada’s cities compares to this stunning region.
St. John’s
- Average price of a one-bedroom, one-bathroom apartment: CAD 184,933
- Average price of a two-bedroom, two-bathroom apartment: CAD 425,375
- Three-bedroom, two-bathroom properties: CAD 307,520
- Townhouse: CAD 410,102
- Detached house CAD 548,960
According to the CREA, the average price of all available housing in Newfoundland and Labrador in July 2024 was CAD 297,000, representing a 4.2% increase from 2023.
Nova Scotia
Halifax
- Average price of a one-bedroom, one-bathroom apartment: CAD 471,092
- Average price of a two-bedroom, two-bathroom apartment: CAD 732,532
- Three-bedroom, two-bathroom properties: CAD 771,540
- Townhouse: CAD 578,833
- Detached house CAD 764,766
According to the CREA, the average price of all available housing in Nova Scotia in July 2024 was CAD 418,200, representing a 4.4% increase from 2023.
Ontario
Toronto
- Average price of a one-bedroom, one-bathroom apartment: CAD 671,092
- Average price of a two-bedroom, two-bathroom apartment: CAD 920,588
- Three-bedroom, two-bathroom properties: CAD 2,952,402
- Townhouse: CAD 992,280
- Detached house $4,713,735 CAD
Ottawa
- Average price of a one-bedroom, one-bathroom apartment: CAD 399,544
- Average price of a two-bedroom, two-bathroom apartment: CAD 568,338
- Three-bedroom, two-bathroom properties: CAD 789,717
- Townhouse: CAD 629,665
- Detached house: CAD 1,020,820
According to the CREA, the average price of all available housing in Ontario in July 2024 was $837,685 CAD, a -1.7 % decrease from 2023.
Prince Edward Island
Charlottetown
- Average price of a one-bedroom, one-bathroom apartment: CAD 321,825
- The average price of a two-bedroom, two-bathroom apartment is CAD 453,483
- Three-bedroom, two-bathroom properties: CAD 487,139
- Townhouse: CAD 474,480
- Detached house: CAD 679,247
According to the CREA, the average price of all available housing in Prince Edward Island in July 2024 was CAD 365,000, representing a -0.3% decrease from the year 2023.
Quebec
Montreal
- Average price of a one-bedroom, one-bathroom apartment: CAD 420,616
- Average price of a two-bedroom, two-bathroom apartment: CAD 871,050
- Three-bedroom, two-bathroom properties: CAD 997,473
- Townhouse: CAD 782,850
- Detached house: CAD 1,091,333
Quebec City
- Average price of a one-bedroom, one-bathroom apartment: CAD 227,492
- Average price of a two-bedroom, two-bathroom apartment: $567,983 AD
- Three-bedroom, two-bathroom properties: CAD 687,143
- Townhouse: CAD 514,850
- Detached house: CAD 643,083
According to the CREA, the average price of all available housing in Quebec in July 2024 was CAD 525,732, representing a 6.3% increase from 2023.
Saskatchewan
Discover how the average cost of buying a home across Canada’s cities compares to the housing alternatives available in Saskatchewan.
Saskatoon
- Average price of a one-bedroom, one-bathroom apartment: CAD 235,142
- Average price of a two-bedroom, two-bathroom apartment: CAD 299,083
- Three-bedroom, two-bathroom properties: CAD 400,675
- Townhouse: CAD 414,308
- Detached house: CAD 1,070,483
According to the CREA, the average price of all available housing in Saskatchewan in July 2024 was CAD 344,800, representing a 4.5% increase from 2023.
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