Portugal, Canada, and the United States were the countries with the highest house price to income ratio in 2024. In all three countries, the index exceeded 130 index points, while the average for all OECD countries stood at 116.2 index points. The index measures the development of housing affordability and is calculated by dividing nominal house price by nominal disposable income per head, with 2015 set as a base year when the index amounted to 100. An index value of 120, for example, would mean that house price growth has outpaced income growth by 20 percent since 2015. How have house prices worldwide changed since the COVID-19 pandemic? House prices started to rise gradually after the global financial crisis (2007–2008), but this trend accelerated with the pandemic. The countries with advanced economies, which usually have mature housing markets, experienced stronger growth than countries with emerging economies. Real house price growth (accounting for inflation) peaked in 2022 and has since lost some of the gain. Although, many countries experienced a decline in house prices, the global house price index shows that property prices in 2023 were still substantially higher than before COVID-19. Renting vs. buying In the past, house prices have grown faster than rents. However, the home affordability has been declining notably, with a direct impact on rental prices. As people struggle to buy a property of their own, they often turn to rental accommodation. This has resulted in a growing demand for rental apartments and soaring rental prices.

The house price to income ratio in Canada peaked in the second quarter of 2022, followed by a decline until the second quarter of 2025. The ratio measures the development of housing affordability and is calculated by dividing nominal house price by nominal disposable income per head, with 2015 set as a base year when the index amounted to 100. Canada's index score in the second quarter of 2025 amounted to *****, which means that house price growth has outpaced income growth by almost **** percent since 2015. Canadian home prices continue to grow House prices in Canada have steadily increased over the past decade, despite a very mild decline in 2023. This trend is forecast to continue until 2026, albeit at a lower rate than in the period between 2019 and 2022. In British Columbia, which has consistently been the most expensive province for housing, the average house price is expected to reach nearly *** million Canadian dollars in 2026. The rising homeownership costs have also affected rents. In 2024, the average two-bedroom apartment rent in Vancouver exceeded ***** Canadian dollars. Canadian incomes on the rise Incomes in Canada have steadily risen since 2000 and show no signs of slowing down in the near future. This should improve housing affordability, as long as home price growth slows down.

Data on resident buyers who are persons that purchased a residential property in a market sale and filed their T1 tax return form: number of and incomes of residential property buyers, sale price, price-to-income ratio by the number of buyers as part of a sale, age groups, first-time home buyer status, buyer characteristics (sex, family type, immigration status, period of immigration, admission category).

This statistic shows the house price to income ratio in Canada from 2013 to 2015 with forecasts for 2016 and 2017, by province. The house prices in British Columbia were *** times the average household income in 2015, but were set to increase to *** times average household income in 2016, then return to *** by 2017. For more recent data on housing affordability in the major Canadian markets click here.

Graph and download economic data for Residential Property Prices for Canada (QCAN628BIS) from Q1 1970 to Q2 2025 about Canada, residential, HPI, housing, price index, indexes, and price.

Residential Property Prices in Canada decreased 3.60 percent in June of 2025 over the same month in the previous year. This dataset includes a chart with historical data for Canada Residential Property Prices.

Prospective homebuyers in Vancouver, British Columbia, and Toronto, Ontario, needed an annual income of over 200,000 Canadian dollars in June 2025 to qualify for the average priced home. In Vancouver, this figure was approximately 238,820 Canadian dollars. British Columbia and Ontario, are Canada's most expensive provinces for housing. According to a January 2025 forecast by the Canadian Real Estate Association (CREA), the housing market is expected to grow in the next two years, which is likely to worsen home affordability.

New housing price index (NHPI). Monthly data are available from January 1981. The table presents data for the most recent reference period and the last four periods. The base period for the index is (201612=100).

Home affordability has worsened substantially in Canada since 2021. In the first quarter of 2025, the monthly single-family mortgage payment amounted to approximately 61.7 percent of a household's income, on average. In 2021, when affordability had improved slightly, the average mortgage payment constituted 46.5 percent of a household's income.

Data on resident buyers who are persons that purchased a residential property in a market sale and filed their T1 tax return form: number of and incomes of residential property buyers, sale price, price-to-income ratio by the number of buyers as part of a sale, age groups, first-time home buyer status, buyer characteristics (sex, family type, immigration status, period of immigration, admission category).

Graph and download economic data for Real Residential Property Prices for United States (QUSR628BIS) from Q1 1970 to Q2 2025 about residential, HPI, housing, real, price index, indexes, price, and USA.

The average sales price decreased for all property types in Greater Vancouver, Canada in June 2025. Buying a condo as of June 2025 would cost a home buyer about 760,000 Canadian dollars. Greater Vancouver is one of Canada's most important economic centers. It consists of 21 municipalities, including Vancouver City, Surrey, Burnaby, Richmond, Coquitlam, and other.

The median condo sales price in Toronto, Canada, was 615,000 Canadian dollars in the first quarter of 2025. Among the most active areas, Toronto C01 had the highest prices, at 665,000 Canadian dollars.

Data on shelter-cost-to-income ratio by visible minority, immigrant status and period of immigration, age and gender for the population in owner and tenant households with household total income greater than zero and shelter-cost-to-income ratio less than 100%, in non-reserve, non-farm private dwellings in Canada, provinces and territories, census metropolitan areas, census agglomerations and parts.

Price to Rent Ratio in Canada decreased to 128.87 in the second quarter of 2025 from 134.34 in the first quarter of 2025. This dataset includes a chart with historical data for Canada Price to Rent Ratio.

In June 2025, the average sales price in Greater Toronto, Canada, was the highest for detached houses, at 1.39 million Canadian dollars. Buying a condo would cost a homebuyer about 696,000 Canadian dollars. Toronto is Canada's most populous city and the country's most important economic center. It consists of 25 municipalities, including Toronto City, Mississauga, Brampton, and others.

The Canadian home lending market, valued at approximately $XX million in 2025, is experiencing robust growth, projected to maintain a Compound Annual Growth Rate (CAGR) exceeding 5% through 2033. This expansion is fueled by several key factors. Firstly, a consistently growing population and increasing urbanization are driving demand for housing, particularly in major metropolitan areas. Secondly, favorable government policies aimed at supporting homeownership, while subject to change, have historically played a crucial role. Thirdly, the prevalence of low-interest rates (though subject to fluctuations) in recent years has made mortgages more accessible to a wider range of borrowers. Finally, the diverse range of lenders, including commercial banks, financial institutions, credit unions, and online lenders, fosters competition and innovation within the market, offering consumers more choice and potentially better rates. However, the market is not without its challenges. Rising interest rates, inflation, and potential economic downturns pose significant risks to the sustained growth trajectory. Furthermore, stricter lending regulations implemented to mitigate risks within the financial system could impact affordability and accessibility for some borrowers. Market segmentation reveals a preference for fixed-rate loans and a growing adoption of online lending platforms, alongside continued reliance on traditional brick-and-mortar institutions. Key players in the market, such as HSBC Bank Canada, Tangerine Direct Bank, and others, compete aggressively to capture market share through varied product offerings and service models. The market’s long-term prospects remain positive, albeit contingent on macroeconomic stability and regulatory shifts. Continued innovation and adaptation by lenders will be crucial in navigating the evolving landscape of the Canadian home lending market. This insightful report provides a deep dive into the dynamic Canadian home lending market, analyzing key trends, growth drivers, and challenges from 2019 to 2033. With a focus on the crucial year 2025 (base and estimated year), this comprehensive study offers invaluable insights for stakeholders across the industry. We leverage data from the historical period (2019-2024) to project the market's trajectory during the forecast period (2025-2033). Keywords: Canadian mortgage market, home equity loans Canada, mortgage rates Canada, online mortgage lenders Canada, Canadian real estate finance. Recent developments include: On March 15, 2022, First Ontario Credit Union announced its merger with Heritage savings & Credit union to offer the best in financial products and services., On February 09, 2022, Hello safe announced a new partnership with Hard bacon, a personal finance application used by more than 35,000 Canadians, this partnership is to leverage Hard bacon's portfolio of comparison tools.. Notable trends are: A Rise in Home Prices Boosting Home Equity Lending Market.

The housing affordability in Canada was the lowest in Vancouver and the higher in Edmonton in the first quarter of 2025. In the first quarter of the year, the ratio of homeownership costs to income in Canada was **** percent. In Vancouver, the ratio amounted to **** percent, while in Edmonton, it was ** percent.

Housing conditions of Canadian military families: Canada, provinces and territories, census metropolitan areas and census agglomerations with parts Frequency: Occasional Table: 98-10-0145-01 Release date: 2023-11-15 Geography: Canada, Province or territory, Census metropolitan area, Census agglomeration, Census metropolitan area part, Census agglomeration part Universe: Population aged 17 and over in owner and tenant households with household total income greater than zero in non-reserve, non-farm private households, 2021 Census — 25% Sample data Variable List: Housing indicators (6), Household type of person (10), Tenure including presence of mortgage payments and subsidized housing (7), Structural type of dwelling (10), Age (15D), Gender (3), Military service status (4A) Footnotes: 1 Household type Household type refers to the differentiation of households on the basis of whether they are census family households or non-census-family households. Census family households are those that contain at least one census family. Non-census-family households are either one person living alone or a group of two or more persons who live together but do not constitute a census family. Census family households may be differentiated based on the presence of additional persons (that is, persons not in a census family). 2 Structural type of dwelling 'Structural type' refers to the structural characteristics and/or dwelling configuration, that is, whether the dwelling is a single-detached house, an apartment in a high-rise building, a row house, a mobile home, etc. 3 Age 'Age' refers to the age of a person (or subject) of interest at last birthday (or relative to a specified, well-defined reference date). 4 Gender Gender refers to an individual's personal and social identity as a man, woman or non-binary person (a person who is not exclusively a man or a woman). Gender includes the following concepts: gender identity, which refers to the gender that a person feels internally and individually; gender expression, which refers to the way a person presents their gender, regardless of their gender identity, through body language, aesthetic choices or accessories (e.g., clothes, hairstyle and makeup), which may have traditionally been associated with a specific gender. A person's gender may differ from their sex at birth, and from what is indicated on their current identification or legal documents such as their birth certificate, passport or driver's licence. A person's gender may change over time. Some people may not identify with a specific gender. 5 Given that the non-binary population is small, data aggregation to a two-category gender variable is sometimes necessary to protect the confidentiality of responses provided. In these cases, individuals in the category “non-binary persons” are distributed into the other two gender categories and are denoted by the “+” symbol. 6 Dwelling condition 'Dwelling condition' refers to whether the dwelling is in need of repairs. This does not include desirable remodelling or additions. Housing suitability Housing suitability refers to whether a private household is living in suitable accommodations according to the National Occupancy Standard (NOS); that is, whether the dwelling has enough bedrooms for the size and composition of the household. A household is deemed to be living in suitable accommodations if its dwelling has enough bedrooms, as calculated using the NOS. 'Housing suitability' assesses the required number of bedrooms for a household based on the age, sex, and relationships among household members. An alternative variable, 'persons per room,' considers all rooms in a private dwelling and the number of household members. Housing suitability and the National Occupancy Standard (NOS) on which it is based were developed by Canada Mortgage and Housing Corporation (CMHC) through consultations with provincial housing agencies. Shelter-cost-to-income ratio 'Shelter-cost-to-income ratio' refers to the proportion of average total income of household which is spent on shelter costs. Core housing need Core housing need refers to whether a private household's housing falls below at least one of the indicator thresholds for housing adequacy, affordability or suitability, and would have to spend 30% or more of its total before-tax income to pay the median rent of alternative local housing that is acceptable (attains all three housing indicator thresholds). Housing indicator thresholds are defined as follows: Adequate housing is reported by their residents as not requiring any major repairs. Affordable housing has shelter costs equal to less than 30% of total before-tax household income. Suitable housing has enough bedrooms for the size and composition of resident households according to the National Occupancy Standard (NOS), conceived by the Canada Mortgage and Housing Corporation and provincial and territorial representatives. Only private, non-farm, non-reserve and owner- or renter-households with incomes greater than zero and shelter-cost-to-income ratios less than 100% are assessed for 'core housing need.' Non-family households with at least one maintainer aged 15 to 29 attending school are considered not to be in 'core housing need' regardless of their housing circumstances. Attending school is considered a transitional phase, and low incomes earned by student households are viewed as being a temporary condition. 7 Military service status Military service status refers to whether or not the person is currently serving or has previously served in the Canadian military. Military service status is asked of all Canadians aged 17 and older. For the purposes of the 2021 Census, Canadian military service includes service with the Regular Force or Primary Reserve Force as an Officer or Non-Commissioned Member. It does not include service with the Cadets, Cadet Organizations Administration and Training Service (COATS) instructors or the Canadian Rangers. 8 Tenure refers to whether the household owns or rents their private dwelling. The private dwelling may be situated on rented or leased land or be part of a condominium. A household is considered to own their dwelling if some member of the household owns the dwelling even if it is not fully paid for, for example if there is a mortgage or some other claim on it. A household is considered to rent their dwelling if no member of the household owns the dwelling. A household is considered to rent that dwelling even if the dwelling is provided without cash rent or at a reduced rent, or if the dwelling is part of a cooperative. For historical and statutory reasons, shelter occupancy on Indian reserves or settlements does not lend itself to the usual classification by standard tenure categories. Therefore, a special category, 'dwelling provided by the local government, First Nation or Indian band,' has been created for census purposes. Presence of mortgage payments refers to whether an owner household makes regular mortgage or loan payments for their dwelling. Subsidized housing refers to whether a renter household lives in a dwelling that is subsidized. Subsidized housing includes rent geared to income, social housing, public housing, government-assisted housing, non-profit housing, rent supplements and housing allowances. 9 For more information on the military service status variable, including data quality and comparability with other sources of data, please refer to the Canadian Military Experience Reference Guide, Census of Population, 2021. 10 Adequacy, suitability, affordability and core housing need are four housing indicators. The indicator for housing adequacy is the dwelling condition. The indicator for housing suitability (a topic often referred to as crowding) is whether the dwelling has enough bedrooms for the size and composition of the household. The indicator of housing affordability is the proportion of household total income that is spent on shelter costs, also referred to as shelter-cost-to-income ratio. Core housing need refers to whether a private household's housing falls below at least one of the indicator thresholds for housing adequacy, affordability or suitability, and would have to spend 30% or more of its total before-tax income to pay the median rent of alternative local housing that is acceptable (attains all three housing indicator thresholds). 'Dwelling condition' refers to whether the dwelling is in need of repairs. This does not include desirable remodelling or additions. The category 'major repairs needed' includes dwellings needing major repairs such as dwellings with defective plumbing or electrical wiring and dwellings needing structural repairs to walls, floors or ceilings. 'Housing suitability' refers to whether a private household is living in suitable accommodations according to the National Occupancy Standard (NOS); that is, whether the dwelling has enough bedrooms for the size and composition of the household. A household is deemed to be living in suitable accommodations if its dwelling has enough bedrooms, as calculated using the NOS. Housing suitability and the National Occupancy Standard (NOS) on which it is based were developed by Canada Mortgage and Housing Corporation (CMHC) through consultations with provincial housing agencies. The category 'not suitable' includes households where the required number of bedrooms based on the NOS exceeds the reported number of bedrooms in the dwelling. 'Shelter-cost-to-income ratio' refers to the proportion of average total income of household which is spent on shelter costs. The category '30% or more of household income is spent on shelter costs' includes households who spend 30% or more of their average monthly total income on shelter costs. For more information, refer to the Census Dictionary: Dwelling condition; Housing suitability; Shelter-cost-to-income ratio; Core

Housing conditions of Canadian military families: Canada, provinces and territories, census metropolitan areas and census agglomerations with parts Frequency: Occasional Table: 98-10-0145-01 Release date: 2023-11-15 Geography: Canada, Province or territory, Census metropolitan area, Census agglomeration, Census metropolitan area part, Census agglomeration part Universe: Population aged 17 and over in owner and tenant households with household total income greater than zero in non-reserve, non-farm private households, 2021 Census — 25% Sample data Variable List: Housing indicators (6), Household type of person (10), Tenure including presence of mortgage payments and subsidized housing (7), Structural type of dwelling (10), Age (15D), Gender (3), Military service status (4A) Footnotes: 1 Household type Household type refers to the differentiation of households on the basis of whether they are census family households or non-census-family households. Census family households are those that contain at least one census family. Non-census-family households are either one person living alone or a group of two or more persons who live together but do not constitute a census family. Census family households may be differentiated based on the presence of additional persons (that is, persons not in a census family). 2 Structural type of dwelling 'Structural type' refers to the structural characteristics and/or dwelling configuration, that is, whether the dwelling is a single-detached house, an apartment in a high-rise building, a row house, a mobile home, etc. 3 Age 'Age' refers to the age of a person (or subject) of interest at last birthday (or relative to a specified, well-defined reference date). 4 Gender Gender refers to an individual's personal and social identity as a man, woman or non-binary person (a person who is not exclusively a man or a woman). Gender includes the following concepts: gender identity, which refers to the gender that a person feels internally and individually; gender expression, which refers to the way a person presents their gender, regardless of their gender identity, through body language, aesthetic choices or accessories (e.g., clothes, hairstyle and makeup), which may have traditionally been associated with a specific gender. A person's gender may differ from their sex at birth, and from what is indicated on their current identification or legal documents such as their birth certificate, passport or driver's licence. A person's gender may change over time. Some people may not identify with a specific gender. 5 Given that the non-binary population is small, data aggregation to a two-category gender variable is sometimes necessary to protect the confidentiality of responses provided. In these cases, individuals in the category “non-binary persons” are distributed into the other two gender categories and are denoted by the “+” symbol. 6 Dwelling condition 'Dwelling condition' refers to whether the dwelling is in need of repairs. This does not include desirable remodelling or additions. Housing suitability Housing suitability refers to whether a private household is living in suitable accommodations according to the National Occupancy Standard (NOS); that is, whether the dwelling has enough bedrooms for the size and composition of the household. A household is deemed to be living in suitable accommodations if its dwelling has enough bedrooms, as calculated using the NOS. 'Housing suitability' assesses the required number of bedrooms for a household based on the age, sex, and relationships among household members. An alternative variable, 'persons per room,' considers all rooms in a private dwelling and the number of household members. Housing suitability and the National Occupancy Standard (NOS) on which it is based were developed by Canada Mortgage and Housing Corporation (CMHC) through consultations with provincial housing agencies. Shelter-cost-to-income ratio 'Shelter-cost-to-income ratio' refers to the proportion of average total income of household which is spent on shelter costs. Core housing need Core housing need refers to whether a private household's housing falls below at least one of the indicator thresholds for housing adequacy, affordability or suitability, and would have to spend 30% or more of its total before-tax income to pay the median rent of alternative local housing that is acceptable (attains all three housing indicator thresholds). Housing indicator thresholds are defined as follows: Adequate housing is reported by their residents as not requiring any major repairs. Affordable housing has shelter costs equal to less than 30% of total before-tax household income. Suitable housing has enough bedrooms for the size and composition of resident households according to the National Occupancy Standard (NOS), conceived by the Canada Mortgage and Housing Corporation and provincial and territorial representatives. Only private, non-farm, non-reserve and owner- or renter-households with incomes greater than zero and shelter-cost-to-income ratios less than 100% are assessed for 'core housing need.' Non-family households with at least one maintainer aged 15 to 29 attending school are considered not to be in 'core housing need' regardless of their housing circumstances. Attending school is considered a transitional phase, and low incomes earned by student households are viewed as being a temporary condition. 7 Military service status Military service status refers to whether or not the person is currently serving or has previously served in the Canadian military. Military service status is asked of all Canadians aged 17 and older. For the purposes of the 2021 Census, Canadian military service includes service with the Regular Force or Primary Reserve Force as an Officer or Non-Commissioned Member. It does not include service with the Cadets, Cadet Organizations Administration and Training Service (COATS) instructors or the Canadian Rangers. 8 Tenure refers to whether the household owns or rents their private dwelling. The private dwelling may be situated on rented or leased land or be part of a condominium. A household is considered to own their dwelling if some member of the household owns the dwelling even if it is not fully paid for, for example if there is a mortgage or some other claim on it. A household is considered to rent their dwelling if no member of the household owns the dwelling. A household is considered to rent that dwelling even if the dwelling is provided without cash rent or at a reduced rent, or if the dwelling is part of a cooperative. For historical and statutory reasons, shelter occupancy on Indian reserves or settlements does not lend itself to the usual classification by standard tenure categories. Therefore, a special category, 'dwelling provided by the local government, First Nation or Indian band,' has been created for census purposes. Presence of mortgage payments refers to whether an owner household makes regular mortgage or loan payments for their dwelling. Subsidized housing refers to whether a renter household lives in a dwelling that is subsidized. Subsidized housing includes rent geared to income, social housing, public housing, government-assisted housing, non-profit housing, rent supplements and housing allowances. 9 Adequacy, suitability, affordability and core housing need are four housing indicators. The indicator for housing adequacy is the dwelling condition. The indicator for housing suitability (a topic often referred to as crowding) is whether the dwelling has enough bedrooms for the size and composition of the household. The indicator of housing affordability is the proportion of household total income that is spent on shelter costs, also referred to as shelter-cost-to-income ratio. Core housing need refers to whether a private household's housing falls below at least one of the indicator thresholds for housing adequacy, affordability or suitability, and would have to spend 30% or more of its total before-tax income to pay the median rent of alternative local housing that is acceptable (attains all three housing indicator thresholds). 'Dwelling condition' refers to whether the dwelling is in need of repairs. This does not include desirable remodelling or additions. The category 'major repairs needed' includes dwellings needing major repairs such as dwellings with defective plumbing or electrical wiring and dwellings needing structural repairs to walls, floors or ceilings. 'Housing suitability' refers to whether a private household is living in suitable accommodations according to the National Occupancy Standard (NOS); that is, whether the dwelling has enough bedrooms for the size and composition of the household. A household is deemed to be living in suitable accommodations if its dwelling has enough bedrooms, as calculated using the NOS. Housing suitability and the National Occupancy Standard (NOS) on which it is based were developed by Canada Mortgage and Housing Corporation (CMHC) through consultations with provincial housing agencies. The category 'not suitable' includes households where the required number of bedrooms based on the NOS exceeds the reported number of bedrooms in the dwelling. 'Shelter-cost-to-income ratio' refers to the proportion of average total income of household which is spent on shelter costs. The category '30% or more of household income is spent on shelter costs' includes households who spend 30% or more of their average monthly total income on shelter costs. For more information, refer to the Census Dictionary: Dwelling condition; Housing suitability; Shelter-cost-to-income ratio; Core housing need. 10 For more information on the military service status variable, including data quality and comparability with other sources of data, please refer to the Canadian Military Experience Reference Guide, Census of