Is Calgary Still Affordable Compared to Toronto and Vancouver? 🤔🏡
If you’ve been watching the Canadian housing market, you know prices in cities like Toronto and Vancouver have skyrocketed. But how does Calgary compare?
Let’s look at the numbers 👇
📊 Average Home Price
• Calgary: ~ $570K – $600K
• Toronto: ~ $1.06M+
• Vancouver: ~ $1.27M+
That means homes in Toronto and Vancouver can cost almost double what they do in Calgary.
💰 Income vs Home Price
A major affordability measure is the price-to-income ratio.
• Calgary: about 6.4× household income
• Toronto: about 10.7× income
• Vancouver: about 12.7× income
The lower the ratio, the more affordable the housing market.
📈 Income Needed to Buy
Approximate income needed to afford a typical home:
• Calgary: about $115K household income
• Toronto: $220K+ income needed
• Vancouver: among the highest in Canada
In fact, Calgary households often earn enough to qualify, while buyers in Toronto and Vancouver frequently face a major income shortfall.
👨👩👧 What This Means for Families
In Calgary you can often get:
✔️ Larger homes
✔️ Family-friendly communities
✔️ More space for your money
All while living in one of Canada’s fastest-growing cities.
✨ The bottom line:
While prices have risen in Calgary, it’s still one of the most affordable major cities in Canada compared with Toronto and Vancouver.
📩 Thinking about buying or moving to Calgary? Send me a message — I’d love to help you explore your options!
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