AFFORDABILITY OF HOUSE PURCHASE FOR FIRST TIME HOME BUYERS IN CANADA
information for uottawa mba students looking to purchase their first home in canada
average price of housing in major canadian cities
Current Percentage of Salary Used to Pay Total Monthly Home Ownership Costs
0
%
ASSUMPTIONS:
- $674,000 MORTGAGE after down payment
- $80,000 MEDIAN SALARY for MBA graduates
- $4,969 MONTHLY SALARY after tax
- $1,100 ANCILLARY costs
AFFORDABILITY (HOme ownership COSTS VS. SALARY)
Group
MBA 5100
References
Canada, F. C. A. of. (2024, August 16). Government of Canada. Canada.ca. https://www.canada.ca/en/financial-consumer-agency/services/buying-home.html
Interest rates posted for selected products by the Major Chartered Banks. Bank of Canada. (n.d.). https://www.bankofcanada.ca/rates/banking-and-financial-statistics/posted-interest-rates-offered-by-chartered-banks/#download
CREA. (n.d.). https://www.crea.ca/housing-market-stats/mls-home-price-index/hpi-tool
David, J. (2024, September 17). Best mortgage rates Canada: Compare Canada Mortgage rates. Ratehub.ca. https://www.ratehub.ca/best-mortgage-rates
MBA salary in Canada – average salary. Talent.com. (n.d.-a). https://shorturl.at/KY8Kf