In 2024, housing has emerged as a major concern for Canadians, with much focus on the effects of shifting interest rates, population growth, emigration trends, and other variables on housing costs.
CIC News has created the following guide on the costs of purchasing a property in Canada, taking into account the major cities and population centers in each of the nation’s provinces, after assembling a guide on rental expenses throughout Canada in 2024.
The following guide breaks down the costs of buying various kinds of housing in Canada’s largest cities. The largest city or metropolitan center is considered for each 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; and
- Detached house.
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).
Note: The figures presented are average housing prices, however these may vary substantially based on the neighborhood, time of purchase, and property type (among other factors). 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: $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.
Edmonton
- Average price of a one-bedroom, one-bathroom apartment: $152,877 CAD;
- Average price of a two-bedroom, two-bathroom apartment: $278,273 CAD;
- Three-bedroom, two-bathroom properties: $401,765 CAD;
- Townhouse: $288,968 CAD; and
- Detached house $521,238 CAD.
According to the CREA, the average price of all available housing in Alberta in July 2024 was $486,828 CAD, representing an 8.2% increase from 2023.
British Columbia
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.
According to the CREA, the average price of all available housing in British Columbia in July 2024 was $962,537 CAD, representing an -0.5% decrease from 2023.
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.
According to the CREA, the average price of all available housing in Manitoba in July 2024 was $376,770 CAD, 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: $373,755 CAD;
- Three-bedroom, two-bathroom properties: $307,520 CAD;
- Townhouse: $289,291 CAD; and
- Detached house $374,267 CAD.
According to the CREA, the average price of all available housing in New Brunswick in July 2024 was $308,800 CAD, representing a 6.4% increase from 2023.
Newfoundland and Labrador
St. John’s
- Average price of a one-bedroom, one-bathroom apartment: $184,933 CAD;
- Average price of a two-bedroom, two-bathroom apartment: $425,375 CAD;
- Three-bedroom, two-bathroom properties: $307,520 CAD;
- Townhouse: $410,102 CAD; and
- Detached house $548,960 CAD.
According to the CREA, the average price of all available housing in Newfoundland and Labrador in July 2024 was $297,000 CAD, representing a 4.2% increase from 2023.
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.
According to the CREA, the average price of all available housing in Nova Scotia in July 2024 was $418,200 CAD, representing a 4.4% increase from 2023.
Ontario
Toronto
- 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.
According to the CREA, the average price of all available housing in Ontario in July 2024 was $837,685 CAD, representing a -1.7% decrease from 2023.
Prince Edward Island
Charlottetown
- Average price of a one-bedroom, one-bathroom apartment: $321,825 CAD;
- Average price of a two-bedroom, two-bathroom apartment: $453,483 CAD;
- Three-bedroom, two-bathroom properties: $487,139 CAD;
- Townhouse: $474,480 CAD; and
- Detached house: $679,247 CAD.
According to the CREA, the average price of all available housing in Prince Edward Island in July 2024 was $365,000 CAD, representing a -0.3% decrease from 2023.
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.
Quebec City
- Average price of a one-bedroom, one-bathroom apartment: $227,492 CAD;
- Average price of a two-bedroom, two-bathroom apartment: $567,983 AD;
- Three-bedroom, two-bathroom properties: $687,143 CAD;
- Townhouse: $ 514,850 CAD; and
- Detached house: $ 643,083 CAD.
According to the CREA, the average price of all available housing in Quebec in July 2024 was $525,732 CAD, representing a 6.3% increase from 2023.
Saskatchewan
Saskatoon
- Average price of a one-bedroom, one-bathroom apartment: $235,142 CAD;
- Average price of a two-bedroom, two-bathroom apartment: $299,083 CAD;
- Three-bedroom, two-bathroom properties: $400,675 CAD;
- Townhouse: $414,308 CAD; and
- Detached house: $ 1,070,483 CAD.
According to the CREA, the average price of all available housing in Saskatchewan in July 2024 was $344,800 CAD, representing a 4.5% increase from 2023.