Costs of buying homes in Canada’s 10 largest cities

In 2024, housing has emerged as a crucial issue for Canadians, with attention on how changing interest rates, population growth, natural migration patterns, and other factors impact housing costs.

Following a comprehensive review of rental costs across Canada, CIC News has now published a guide detailing home-buying costs in major cities and population centers across the provinces. This guide includes:

• One-bedroom, one-bathroom apartments
• Two-bedroom, two-bathroom apartments
• Three-bedroom, two-bathroom properties
• Townhouses
• Detached houses

Data was sourced from listing sites like realtor.ca and zillow.com, as well as from housing boards such as the Canadian Real Estate Association (CREA) and the Canada Mortgage and Housing Corporation (CMHC). Note that these figures are averages and may vary based on neighborhood, timing, and property type. Use these numbers as a general guide rather than precise indicators of housing costs.

Alberta

Calgary

• One-bedroom, one-bathroom apartment: $325,863 CAD
• Two-bedroom, two-bathroom apartment: $414,427 CAD
• Three-bedroom, two-bathroom property: $443,443 CAD
• Townhouse: $482,774 CAD
• Detached house: $1,018,888 CAD

Edmonton

• One-bedroom, one-bathroom apartment: $152,877 CAD
• Two-bedroom, two-bathroom apartment: $278,273 CAD
• Three-bedroom, two-bathroom property: $401,765 CAD
• Townhouse: $288,968 CAD
• Detached house: $521,238 CAD

CREA data shows the average price of all housing in Alberta was $486,828 CAD in July 2024, an 8.2% increase from 2023.

British Columbia

Vancouver

• One-bedroom, one-bathroom apartment: $597,051 CAD
• Two-bedroom, two-bathroom apartment: $1,444,846 CAD
• Three-bedroom, two-bathroom property: $2,662,771 CAD
• Townhouse: $1,626,282 CAD
• Detached house: $8,493,824 CAD

Surrey

• One-bedroom, one-bathroom apartment: $451,920 CAD
• Two-bedroom, two-bathroom apartment: $616,574 CAD
• Three-bedroom, two-bathroom property: $808,187 CAD
• Townhouse: $1,239,000 CAD
• Detached house: $2,364,226 CAD

CREA data shows the average price of all housing in British Columbia was $962,537 CAD in July 2024, a -0.5% decrease from 2023.

Manitoba

Winnipeg

• One-bedroom, one-bathroom apartment: $159,567 CAD
• Two-bedroom, two-bathroom apartment: $317,400 CAD
• Three-bedroom, two-bathroom property: $346,117 CAD
• Townhouse: $391,575 CAD
• Detached house: $459,325 CAD

CREA data shows the average price of all housing in Manitoba was $376,770 CAD in July 2024, a 6.9% increase from 2023.

New Brunswick

Moncton

• One-bedroom, one-bathroom apartment: Data not available
• Two-bedroom, two-bathroom apartment: $373,755 CAD
• Three-bedroom, two-bathroom property: $307,520 CAD
• Townhouse: $289,291 CAD
• Detached house: $374,267 CAD

CREA data shows the average price of all housing in New Brunswick was $308,800 CAD in July 2024, a 6.4% increase from 2023.

Newfoundland and Labrador

St. John’s

• One-bedroom, one-bathroom apartment: $184,933 CAD
• Two-bedroom, two-bathroom apartment: $425,375 CAD
• Three-bedroom, two-bathroom property: $307,520 CAD
• Townhouse: $410,102 CAD
• Detached house: $548,960 CAD

CREA data shows the average price of all housing in Newfoundland and Labrador was $297,000 CAD in July 2024, a 4.2% increase from 2023.

Nova Scotia

Halifax

• One-bedroom, one-bathroom apartment: $471,092 CAD
• Two-bedroom, two-bathroom apartment: $732,532 CAD
• Three-bedroom, two-bathroom property: $771,540 CAD
• Townhouse: $578,833 CAD
• Detached house: $764,766 CAD

CREA data shows the average price of all housing in Nova Scotia was $418,200 CAD in July 2024, a 4.4% increase from 2023.

Ontario

Toronto

• One-bedroom, one-bathroom apartment: $671,092 CAD
• Two-bedroom, two-bathroom apartment: $920,588 CAD
• Three-bedroom, two-bathroom property: $2,952,402 CAD
• Townhouse: $992,280 CAD
• Detached house: $4,713,735 CAD

Ottawa

• One-bedroom, one-bathroom apartment: $399,544 CAD
• Two-bedroom, two-bathroom apartment: $568,338 CAD
• Three-bedroom, two-bathroom property: $789,717 CAD
• Townhouse: $629,665 CAD
• Detached house: $1,020,820 CAD

CREA data shows the average price of all housing in Ontario was $837,685 CAD in July 2024, a -1.7% decrease from 2023.

Prince Edward Island

Charlottetown

• One-bedroom, one-bathroom apartment: $321,825 CAD
• Two-bedroom, two-bathroom apartment: $453,483 CAD
• Three-bedroom, two-bathroom property: $487,139 CAD
• Townhouse: $474,480 CAD
• Detached house: $679,247 CAD

CREA data shows the average price of all housing in Prince Edward Island was $365,000 CAD in July 2024, a -0.3% decrease from 2023.

Quebec

Montreal

• One-bedroom, one-bathroom apartment: $420,616 CAD
• Two-bedroom, two-bathroom apartment: $871,050 CAD
• Three-bedroom, two-bathroom property: $997,473 CAD
• Townhouse: $782,850 CAD
• Detached house: $1,091,333 CAD

Quebec City

• One-bedroom, one-bathroom apartment: $227,492 CAD
• Two-bedroom, two-bathroom apartment: $567,983 CAD
• Three-bedroom, two-bathroom property: $687,143 CAD
• Townhouse: $514,850 CAD
• Detached house: $643,083 CAD

CREA data shows the average price of all housing in Quebec was $525,732 CAD in July 2024, a 6.3% increase from 2023.

Saskatchewan

Saskatoon

• One-bedroom, one-bathroom apartment: $235,142 CAD
• Two-bedroom, two-bathroom apartment: $299,083 CAD
• Three-bedroom, two-bathroom property: $400,675 CAD
• Townhouse: $414,308 CAD
• Detached house: $1,070,483 CAD

CREA data shows the average price of all housing in Saskatchewan was $344,800 CAD in July 2024, a 4.5% increase from 2023.