Montreal offers the most affordable housing of any major Canadian city, though rapid price growth since 2020 has changed the landscape. Here is what you need to earn to buy in 2026.
Greater Montreal median housing prices by property type
| Property Type | Montreal CMA | Island of Montreal | South Shore | North Shore | Laval |
|---|---|---|---|---|---|
| Single-family | $652,250 | $805,000 | $660,250 | $590,000 | $645,000 |
| Condo | $425,000 | $481,000 | $405,000 | $370,000 | $425,000 |
| Plex (2–5 units) | $880,000 | $922,000 | $800,000 | $705,000 | N/A |
Source: APCIQ/Centris, March 2026 median prices.
Income to afford a home in Montreal by area
This table shows how much household income is needed to afford a home in each area of the Montreal CMA based on March 2026 median home prices. The change column compares the income needed in March 2026 to the prior month February 2026.
Income to afford a home:
| Area | Home Price | Income | Change in Income Required |
|---|---|---|---|
| Montreal CMA | $652,250 | $172,190 | +$2,987 (+1.77%) |
| Island of Montreal | $805,000 | $206,620 | $-8,565 (-3.98%) |
| Laval | $645,000 | $170,555 | +$3,381 (+2.02%) |
| North Shore of Montreal | $590,000 | $158,158 | +$1,127 (+0.72%) |
| South Shore of Montreal | $660,250 | $173,993 | +$5,353 (+3.17%) |
| Vaudreuil-Soulanges | $655,000 | $172,809 | +$10,143 (+6.24%) |
| Saint-Jean-sur-Richelieu | $589,475 | $158,040 | +$9,461 (+6.37%) |
Income to afford a condo:
| Area | Home Price | Income Required | Change in Income Required |
|---|---|---|---|
| Montreal CMA | $425,000 | $120,966 | $-1,127 (-0.92%) |
| Island of Montreal | $481,000 | $133,589 | +$1,352 (+1.02%) |
| Laval | $425,000 | $120,966 | +$845 (+0.70%) |
| North Shore of Montreal | $370,000 | $108,568 | $-564 (-0.52%) |
| South Shore of Montreal | $405,000 | $116,458 | +$2,367 (+2.07%) |
| Vaudreuil-Soulanges | $380,000 | $110,822 | $-113 (-0.10%) |
| Saint-Jean-sur-Richelieu | N/A | N/A | N/A |
Impact of down payment on a $585,000 home
| Down Payment | Amount | Mortgage | CMHC Premium | Monthly Payment | Income Needed |
|---|---|---|---|---|---|
| 5% | $29,250 | $555,750 + $22,230 | $22,230 | $3,179 | ~$134,000 |
| 10% | $58,500 | $526,500 + $16,322 | $16,322 | $2,986 | ~$127,000 |
| 20% | $117,000 | $468,000 | $0 | $2,574 | ~$112,000 |
Quebec-specific costs
| Cost | Amount | Notes |
|---|---|---|
| Quebec welcome tax (droits de mutation) | 0.5% on first $55K, 1% on $55K–$263K, 1.5% on $263K–$526K, 2% on $526K+ | Montreal adds an additional 0.5% on amounts above $530,250 |
| Building inspection | $500–$800 | Strongly recommended; Quebec does not require seller disclosure |
| Notary fees | $1,200–$2,000 | Quebec uses notaries instead of lawyers for real estate transactions |
| Adjustments (taxes, fuel) | $500–$2,000 | Property tax and heating fuel adjustments on closing |
| First-time buyer welcome tax exemption | Up to $5,000 on qualifying transfers | Available in some Quebec municipalities |
The plex advantage in Montreal
Montreal is one of the few major Canadian cities where small multi-unit properties (plexes) are widely available and commonly purchased by owner-occupants.
| Plex Type | Average Price | Rental Income (est.) | Net Housing Cost | Income Needed |
|---|---|---|---|---|
| Duplex (live in 1, rent 1) | $725,000 | $1,450/month | Mortgage minus rental offset | ~$119,000 |
| Triplex (live in 1, rent 2) | $880,000 | $2,900/month | Significantly reduced | ~$124,000 |
Key benefit: Lenders can use 50% of rental income to help you qualify (added to your income for ratio calculations). A triplex with strong rental income can make a $880,000 purchase accessible on a $124,000 income.
Strategies for buying in Montreal
| Strategy | How It Helps |
|---|---|
| Buy a plex | Rental income offsets mortgage costs and helps you qualify |
| Target the South Shore | 20–35% cheaper than the island for similar property types |
| Use FHSA + HBP | Up to $100,000+ per person in tax-advantaged down payment funds |
| Consider emerging neighbourhoods | Montreal-Nord, Saint-Léonard, and Mercier–Hochelaga offer lower entry prices |
| Buy a condo first | Island condos at $350,000–$460,000 are accessible on $85,000–$105,000 income |