New data has revealed Canada's most affordable cities for buying homes and the mortgage payments would take up only a tiny fraction of your income.

The data put forth by Point2Homes shows that nine out of these ten cities have median incomes that are increasing faster than home prices. 

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Halifax, NS, is the most affordable city of the 50 markets in the study. The average mortgage here takes up 10.8% of the median household income. Point2Homes

The most affordable markets are as follows:

  • Halifax, NS
  • Windsor, ON
  • London, ON
  • Quebec, QC
  • Oshawa, ON
  • Saguenay, QC
  • Sherbrooke, QC
  • Winnipeg, MB
  • Regina, SK
  • Trois-Rivieres, QC

In Trois-Rivieres, the least affordable city on the list, an average mortgage takes up only 14.5% of a household's income. 

In comparison, Burnaby, B.C. is at the top of the list when it comes to unaffordable markets

Mortgages in Burnaby take up 44.7% of household income. 

The study shows that Burnaby locals would need to make about 54% more to afford the local housing market. 

So, if you're looking to buy a home and you don't have a big old trust fund, you may want to take a gander at real estate in the most affordable markets in Canada.