These Are the Cheapest and the Most expensive Canadian Cities to Buy an Apartment Solo

These Are the Cheapest and the Most expensive Canadian Cities to Buy an Apartment Solo

That being said, it’s possible to buy an apartment in Canada on a single income, according to a new report.

Real estate firm Zoocasa has crunched the numbers to compile the top Canadian cities to buy an apartment for singles.

In order to do this, they looked at the minimum down payment needed to purchase a benchmark apartment in 15 regions across Canada, and then compared that with the after-tax median income earned by a single-person household in each spot.

What are the cheapest Canadian cities to buy an apartment as a single person?

1. Edmonton (benchmark apartment price: $183,100, you could have your down payment ready in 2.6 months)
2. Regina (benchmark apartment price: $208,200, you could have your down payment ready in 2.9 months)
3. Saskatchewan city (benchmark apartment price: $225,500, you could have your down payment ready in 3.4 months)
4. Winnipeg (benchmark apartment price: $219,100, you could have your down payment ready in 3.5 months)
5. Calgary (benchmark apartment price: $303,100, you could have your down payment ready in 3.5 months)
6. Ottawa (benchmark apartment price: $408,800, you could have your down payment ready in 5.1 months)

Moncton, Vancouver Island, Montreal and Kitchener-Waterloo round up the 10 cheapest cities on this list, with the time needed to collect that down payment ranging between 5 and 7 months.

Most expensive Canadian cities to buy property as singles?

1. Vancouver (benchmark apartment price: $737,400, you could have your down payment ready in 13.9 months)
2. Toronto (benchmark apartment price: $703,700, you could have your down payment ready in 13.2 months)