Ottawa/Gatineau, Home ownership rate 65%, Median annual household income: $89,372 (Toronto $89,825). Median Home Price: $655,843. Qualify for mortgage annual Income: $155,633, The average Mortgage payment 48.9% of annual income ( $3,641/M),
Ottawa/Gatineau home prices dipped 1.6% during the third quarter ( Q/Q) while the median income increased by 0.9%.
The average mortgage payment in Ottawa/Gatineau now represents 48.9% of the median income, above the long-term average for this indicator (29.7%) but below the composite average (67.3%).
Renting is better than buying ( 2 bedrooms Condo Morgage $2,287 Vs Rent $1,858). Premium 30.4%
Nationwide, NB research shows Canadian home prices -7.7% ( peak to date); expect a 15% decline in 2023 from the peak. The affordability in 10 major cities:
Only Calgary and Edmonton buying is better than renting( 2 bedrooms condo)
Ottawa/Gatineau home prices dipped 1.6% during the third quarter ( Q/Q) while the median income increased by 0.9%.
The average mortgage payment in Ottawa/Gatineau now represents 48.9% of the median income, above the long-term average for this indicator (29.7%) but below the composite average (67.3%).
Renting is better than buying ( 2 bedrooms Condo Morgage $2,287 Vs Rent $1,858). Premium 30.4%
Nationwide, NB research shows Canadian home prices -7.7% ( peak to date); expect a 15% decline in 2023 from the peak. The affordability in 10 major cities:
Only Calgary and Edmonton buying is better than renting( 2 bedrooms condo)
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