As the volume of the political debate over housing prices, and more specifically, affordability of housing in this country, increases Saskatchewan continues to look like a quiet success story in this fray.
The folks at Zoocasa have updated their assessment of what kind of house a median income will buy you in cities across the land.
Not surprisingly, they found Ontario and BC were the most pricey or unaffordable. At the other end of the spectrum was Newfoundland as the closest province to match median incomes to the benchmark real estate price. The gap between the two was $35,000.
Saskatchewan was next with a gap of $45,000. That means the median provincial income – that is the point where half the population is above and half is below – can afford a house that is $45,000 below the benchmark, a sort of average realtors use to measure property values.
The gap in Ontario is almost $700,000 and it is over that threshold in BC where the benchmark home price is $1 million, three times as high as Saskatchewan’s benchmark of $330,000.
