Go to content

You need an average household income of $100K to be able to afford a house in Montreal right now...

You need an average household income of $100K to be able to afford a house in Montreal right now...
/ LWA/Dann Tardif / Stone / Getty Images

Looks like the housing market just keeps getting worse and worse by the minute…

According to MTL Blog, the housing market in Montreal is the worst it's ever been - at least in about 40 years anyway: “The Soviet Union was still a thing, Bob Gainey was captain of the Habs, and Michael Jackson was topping the charts the last time Montreal's real estate market was this out of control.”

In a report released August 3rd by the National Bank of Canada, Montreal home prices have increased by 19% over the course of the last year. This significant increase comes at a shock to many people that are looking to purchase a home at this time, which leaves many young people asking themselves, “Will I ever be able to afford a home?”

With the increase in pricing, this means that…

  • A representative non-condo home at $492,777 would require an annual household income of $100,489.
  • A representative condo at $356,433 would require an annual household income of $72,688.

Are you feeling the weight of the housing market in Montreal currently? Let us know what you think.

Subscribe to our newletter!Subscribe to our newletter!
By subscribing, I agree to receive communications by email from Cogeco Média and its affiliates, including news, updates, activities and contests. You can unsubscribe at any time by using the link at the bottom of our emails or contacting us via our Privacy Policy. Please note, however, that we may still continue to send you service-related and other non-commercial communications. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
Streaming will resume following advertisement.
The Beat of your Workday with Donna
Live