Buying your own home in Quebec is becoming less and less affordable. According to the Quebec Professional Association of Real Estate Brokers (QPAREB), in the second quarter of 2026 the median price of a detached house in the province reached $523,250, which is 5% higher than a year earlier. At the same time, sales volume continued to decline.
To understand what income is needed to buy a home, specialists calculated the minimum annual salary that would make it possible to purchase a median-priced house in different cities across Quebec. The calculations are based on standard requirements of Canadian mortgage lenders.
In brief
- $523,250.
- 5%.
- $120,741 per year.
- Thetford Mines, and the most expensive is Saint-Sauveur.
How was the required income calculated?
The following assumptions were used in the calculations:
- 5%;
- 25 years;
- 5% on the first $500,000 of the purchase price;
- 10% on the amount above $500,000;
- housing costs must not exceed 35% of gross annual income.
At the same time, the calculations did not include:
- municipal taxes;
- heating;
- utility costs;
- personal loans and other debt obligations.
Therefore, the actual required income for many families may be even higher.
Where is it cheapest to buy a house?
The most affordable housing markets among the cities presented:
| City | Median house price | Minimum income |
|---|---|---|
| Thetford Mines | $245,000 | $46,412 |
| Baie-Comeau | $275,000 | $52,095 |
| Shawinigan | $316,500 | $59,957 |
| Sept-Îles | $320,000 | $60,620 |
| Rivière-du-Loup | $337,500 | $63,935 |
Where is housing the most expensive?
The highest income level is required in popular Montreal suburbs and tourist areas of the Laurentians.
| City | Median house price | Minimum income |
|---|---|---|
| Saint-Sauveur | $647,400 | $121,172 |
| Montreal (agglomeration) | $645,000 | $120,741 |
| Sainte-Adèle | $557,500 | $105,038 |
| Sainte-Agathe-des-Monts | $534,200 | $100,856 |
| Gatineau | $523,500 | $98,936 |
How much do you need to earn in the largest cities?
- Montreal — the average house costs $645,000, and the required income is $120,741 per year.
- Quebec City — $478,000, income — $90,551.
- Sherbrooke — $490,000, income — $92,824.
- Granby — $510,000, income — $96,513.
- Gatineau — $523,500, income — $98,936.
- Trois-Rivières — $405,250, income — $76,769.
- Saguenay — $370,000, income — $70,092.
Why does this matter?
Despite a slight decline in buyer activity, real estate prices in Quebec continue to rise. This means that to buy a home, most families need an increasingly higher income.
The gap between regions is especially noticeable: while in Thetford Mines a family with an income of about $46,000 a year can buy a house, in Montreal or Saint-Sauveur it already takes more than $120,000 in annual income.
Frequently asked questions
Were property taxes taken into account?
No. Only mortgage payments and the minimum down payment were included in the calculation.
Why can the actual required income be higher?
Because homeowners also have to pay municipal and school taxes, home insurance, heating, utilities, and other mandatory expenses.
Are prices still rising?
Yes. According to QPAREB, in the second quarter of 2026 the median price of a single-family home in Quebec increased by 5% compared with the same period last year.
Author’s commentary
Quebec’s real estate market is becoming increasingly polarized. If just a few years ago the difference between regions was relatively moderate, today it amounts to tens of thousands of dollars in required annual income. For many buyers, this means that when choosing a home, they increasingly have to focus not only on work or quality of life, but also on the financial affordability of a particular region. That is why smaller cities in Quebec continue to attract those who dream of owning a home but are not ready to pay the “Montreal price.”
