If you're considering dipping your toes into the real estate market, understanding Canadian house prices in different cities is a great first step.
New data from the National Bank of Canada has revealed that saving up for a down payment might take a serious chunk of time, especially in Vancouver.
Household income needed.
In order to buy this "average" priced home, you or you and your home-buying partner need to earn over $200,000 annually.
If you make that type of money and you're able to put aside 10% of it, it will take you a whopping 409 months to save up for the down payment.
That's more than 34 years, so we hope you've already got that savings account cooking.*
If you're looking for something in the condo department, an annual income of $127,633 is needed and you'll have to save for 58 months.
Meanwhile, over in Winnipeg, you only need to earn $69,664 and save for 28 months to buy a home. For first time home buyers, even that might be a stretch.
This article has been updated.