Here Are The Places In Canada Where You Could Actually Afford A House On A Single Income
You can finally move out of your parent's place.
It seems like every week there's at least one new story about how much houses cost in Canada, and that young people will never be able to get enough money together on their own to be able to afford one.
But depending on where you choose to live you may actually be able to afford a house of your own apparently.
A recent study looked at the average income for a single person in a city and compared it to the average cost of a house in that city and apparently there are places where home ownership isn't out of reach.
Let's count down the top 5.
5. Saguenay, Quebec
The average cost of a house in Saguenay is $161,587, and the average income of a single person is $29,125. Meaning that if you saved your money right you could actually pay a mortgage and fully own your home in a reasonable amount of years!
4. Fredericton, New Brunswick
Ahh good old New Brunswick, that province you almost forget exists sometimes. In Fredricton the average home price is $179,981 and the average one-person income is around $34,724. Save your money right and you could be living here!
3. Trois Rivieres, Quebec
Trois Rivieres is only an hour and a half drive from Montreal, but WAY more affordable. With a average home price of $153,591, and a average income of $34,745 it's not hard to imagine being able to own a home here.
2. Moncton, New Brunswick
Moncton is one of the biggest cities in New Brunswick but unlike almost every other city in Canada you could actually afford to live there. The average house costs ONLY $174,800, and if you're making $39,456 a year you could easily afford to live here.
1. St. John New Brunswick
In case you haven't noticed New Brunswick DOMINATES this list. 3 in the top 5 of Canada! In St. John the average home price is a measly $171,596, which looking at places like Toronto and Vancouver looks like a complete steal! Especially when the average income for a single person is is $39,163.