Overview
Housing Affordability
The Royal Bank Housing Affordability Index – which measures a house price in relation to total payments required for a mortgage, utilities and property taxes – ranked Calgary housing as more affordable than Vancouver, Toronto, Montreal and Ottawa in the third quarter of 2011.
Calgary housing was also rated as being more affordable than the national average.
Standard Two-storey house - Q4 2011
| Census Metropolitan Area | Average Price | Qualifying | Affordability Measure |
| Vancouver | $845,000 | $159,800 | 92.3% |
| Toronto | $602,000 | $127,100 | 61.3% |
| Montreal | $358,300 | $78,600 | 50.2% |
| Ottawa | $383,700 | $91,600 | 43.1% |
| Calgary | $414,800 | $90,000 | 37.8% |
| Edmonton | $364,800 | $83,700 | 37.4% |
| Canada | $395,500 | $86,900 |
48.1% |
Source Code: RBC Economics, Housing Trends & Affordability, March 2012
* The Royal Bank Housing Affordability Index measures a house price in relation to the total payments required for a mortgage, utilities and property tax. The higher the measure, the more difficult it is to afford a house.
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