With constantly increasing rents and the price of houses that climbs tirelessly in the large Quebec region, the pressure on budgets has never been so strong. At the beginning of 2025, when this trend shows no signs of stopping, a question is essential: what income yourself or your cleaning should you have to finally become the owner in the national capital and its surroundings?
In its latest assessment entitled Statistics of Centris residential sales, the Professional Association of Quebec Real Estate Brokers (APCIQ) presents its most recent real estate market data in the Quebec sector.
Thus, we learn that the median price of a single -family house amounts to $ 385,000 in the last quarter of the year 2024. This represents an increase of 10 % for this type of property, compared to the same period in 2023. On the condos side, the median value was $ 270,000 in 2024, an increase of 13 % compared to the front year.
Residential sales jumped 19 % compared to 2023. “This is a level of sales much higher than the historical average”, can be read in the APCIQ press release.
What you should know: The Government of Canada recommends that they do not exceed 35 % of its gross income for rent -related expenses. Under these conditions, it is important to determine the annual salary that you or your cleaning should earn an average of a house or a condo in Quebec, at present.
Narcity Quebec has carried out calculations taking into account the Stardard mortgage conditions in Canada.
Financial assembly for a single -family house at $ 385,000:
-- Putting of funds: 5 % on $ 385,000 = $ 19,250
- Mortgage amount: $ 385,000 – $ 19,250 = $ 365,750
- Monthly mortgage payments: approximately $ 2,246.03 (calculated with an annual fixed rate of 5.5 % over 25 years)
- Annual gross income required: environ 77 006,57 $
Financial assembly for a condo at $ 270,000:
- Funding: 5 % on $ 270,000 = $ 13,500
- Mortgage amount: $ 270,000 – $ 13,500 = $ 256,500
- Monthly mortgage payments: approximately $ 1,575.13 (calculated with an annual fixed rate of 5.5 % over 25 years)
- Annual gross income required: environ 54 004,61 $
Note that our calculations do not take into account the welcome tax, annual property taxes as well as heating costs.
In case you did not know: The income necessary to buy a house or a condo in the large Quebec region are significantly lower than those in Montreal.
As a comparison, you must win about $ 107,152.88 to become a owner in Montreal in 2025, while it is necessary to have a salary of about a condo.
You can consult our article “Buy a house in Montreal in 2025: here is how much you have to win to get there” for all the details on this subject.
