Estimate your monthly mortgage payment based on Saskatchewan home prices. Saskatchewan offers affordable housing with no land transfer tax, making it an accessible market for first-time buyers and families.
The average home price in Saskatchewan is approximately $360,000. With a minimum down payment of $18,000 (5%) and CMHC insurance, the total mortgage would be approximately $355,740. At a 4.25% interest rate over 25 years, the monthly mortgage payment would be $1,923.
5-year term summary:
25-year summary:
Saskatchewan mortgage payment examples
| Home Price | Down Payment | Mortgage + CMHC | Monthly at 4% | Monthly at 5% | Monthly at 6% |
|---|---|---|---|---|---|
| $200,000 | $20,000 | $185,580 | $978 | $1,084 | $1,194 |
| $300,000 | $30,000 | $278,370 | $1,467 | $1,626 | $1,792 |
| $360,000 | $36,000 | $334,008 | $1,760 | $1,951 | $2,150 |
| $450,000 | $45,000 | $417,825 | $2,202 | $2,441 | $2,690 |
| $550,000 | $55,000 | $510,225 | $2,689 | $2,980 | $3,285 |
No land transfer tax in Saskatchewan
Saskatchewan does not charge a land transfer tax. Instead, buyers pay a land titles fee of 0.3% of the property value.
Example: On a $360,000 home, the land titles fee would be approximately $1,080 — compared to $5,275 in Ontario or $3,200 in BC for the same price.
Saskatchewan property tax rates
| Municipality | Approximate Tax Rate | Annual Tax on $360,000 Home |
|---|---|---|
| Regina | 1.08% | $3,888 |
| Saskatoon | 1.02% | $3,672 |
| Moose Jaw | 1.24% | $4,464 |
| Prince Albert | 1.35% | $4,860 |
| Swift Current | 1.10% | $3,960 |
Saskatchewan property taxes include municipal and education components. Rates are moderate compared to national averages.
Saskatchewan housing cost breakdown
| Cost Category | Typical Monthly Range |
|---|---|
| Mortgage payment (on average home) | $1,800 – $2,100 |
| Property taxes | $300 – $410 |
| Home insurance | $100 – $175 |
| Utilities & heating | $200 – $400 |
| Maintenance (1% of value/year) | $300 – $360 |
Total estimated monthly cost: $2,700 – $3,445
Saskatchewan-specific homebuyer considerations
- No land transfer tax — Only a 0.3% land titles fee applies, saving thousands compared to most provinces.
- PST on new homes — Saskatchewan charges 6% PST on new construction (in addition to 5% GST). This does not apply to resale homes.
- Saskatchewan Home Renovation Tax Credit — An income tax credit for eligible renovation expenses.
- Higher heating costs — Similar to Manitoba, Saskatchewan’s cold winters increase heating expenses. SaskPower and SaskEnergy rates are moderate but winter bills can be significant.
- First Home Savings Account (FHSA) — Save up to $40,000 tax-free. See the FHSA calculator.
- RRSP Home Buyers’ Plan — Withdraw up to $60,000 ($120,000 per couple) for a down payment.
Saskatchewan housing market overview
- Regina — The provincial capital, with average prices around $380,000. Government and agriculture drive the economy. See the Regina housing market report.
- Saskatoon — Slightly more affordable at around $370,000, with a diversified economy including mining, agriculture, and technology. See the Saskatoon housing market report.
- Smaller centres — Cities like Moose Jaw, Prince Albert, and Swift Current offer homes under $250,000.
Related calculators
- Saskatchewan Land Titles Fee Calculator — Calculate your land titles fees
- Mortgage Affordability Calculator — How much house can you afford?
- Mortgage Down Payment Calculator — Minimum down payment
- Closing Costs Calculator — Estimate all purchase costs