The issue of housing affordability is getting more than its share of attention these days. Whether it is people who are without a roof over their heads altogether or those who are struggling with higher interest rates driving up home ownership costs, this topic is top of mind these days.
But it may be better than you think in this province. An examination of housing affordability in this country puts Regina in #2 spot among the top 17 major markets in the country. Saskatoon is fourth.
Conducted by Zoocasa, this survey assesses the median income in each city and then compares that to average home prices in that city.
What they found is the median income will not buy the average home in 10 of the 17 cities. Regina and Saskatoon are in the group where a median income qualifies to buy the average house.
In fact, the biggest spread in the country between income and affordability is Regina with a gap of $111,000 favouring the buyer. In Vancouver, the gap is $800,000 against the buyer.
