What income do you need to buy a house in Toronto?

To qualify for an average Toronto home, you typically need an annual income well above the median. Based on CMHC affordability data, most detached homes require a qualifying income of $150,000–$200,000+, depending on your downpayment and mortgage rate.

Can I afford a condo in Toronto on an average salary?

Condos are the most accessible entry point in Toronto. Depending on the price and your downpayment, a qualifying income of roughly $80,000–$120,000 may be sufficient for a condo purchase as of 2024.

How does Toronto housing affordability compare across age groups?

Income varies significantly by age cohort in Toronto. Younger earners (20s–30s) tend to be concentrated in lower percentiles, making homeownership harder, while those in their 40s–50s are more likely to meet qualifying income thresholds based on StatCan T1FF data.

What percentile is my income in Toronto?

You can use the Toronto Income & Housing Affordability tool at torontoaffordability.com to enter your annual income and instantly see which income percentile you fall into for your age cohort, based on Statistics Canada data.

How long does it take to save a downpayment in Toronto?

The time to save a downpayment in Toronto depends on your income and savings rate. The affordability calculator on this site lets you model different savings rates and see how many years it would take to reach a downpayment based on your income.

How does the Canadian mortgage stress test work?

Under OSFI's B-20 rules, lenders must qualify borrowers at the higher of (a) the contract mortgage rate plus 2 percentage points or (b) 5.25%. The stress test calculator on this page shows your qualifying payment and the income required to pass.

Toronto Housing Affordability Calculator

Age — Mortgage rate 5.49% Property type

01 · Market

Greater Toronto Area Market

Click a region in the table or on the map · TRREB Q2 2025

Buyer Competition Now

10 GTA regions · Condo prices

Region	Avg Price	$/Sqft	Income Req'd	vs. GTA

Median Price

$685k

+2.4% YoY

Qualifying Income

$142k

+$8k vs '24

$/Sqft

$912

+1.1% YoY

Affordability

−4 pts YoY

Average Condo Price by Region

Hover for details · click to pin

Lower

Higher Source: TRREB Q2 2025

01b · Histories

The Story Behind Each Area

Old Toronto, new prices — short original histories of the places on the map

Why does each part of the city cost what it does? Our neighbourhood series pairs a short, original history of each area with today's numbers — from the colonial Town of York to the postwar suburban boom.

All neighbourhoods → Downtown Toronto North York Etobicoke Scarborough

02 · Income

Income Distribution by Age

Upper-tail percentiles across Toronto earners · StatCan T1FF, FY2024

03 · Mortgage

Mortgage Stress Test Calculator

OSFI B-20 rule: lenders qualify at the higher of (contract rate + 2%) or 5.25%

Down %

20%

$160,000

Home Price Downpayment % Mortgage Rate % Amortization (yrs)

04 · Affordability

What Can I Afford & How Long to Save?

Set your income to see your percentile, what you qualify for, and your downpayment runway

My Annual Income $100,000

Downpayment savings runway

Years to save 20% down at different savings rates

05 · Reference

Full Income Percentile Table

All age cohorts × all percentiles · StatCan T1FF FY2024

Methodology

How these numbers work.

Sources, assumptions, and common questions — so you can trust the numbers and reproduce them yourself.

Read full methodology

How the calculators work

Estimated qualifying income uses ~22.5% of home price as required gross household income. Based on a typical 30% Gross Debt Service ratio. Mortgage payments assume 20% down, 25-year amortization, and the rate from the global slider.

What income do I need to buy in Toronto?

Detached/semi at ~$1.13M needs ~$250k qualifying income at current rates. Condo at ~$651K needs ~$149k. Adjust the rate slider to see how rates move these thresholds.

How does the mortgage stress test work?

Federally regulated lenders qualify uninsured borrowers at the higher of contract rate + 2% or 5.25%. With 5-yr fixed at ~5.0–5.5%, qualifying rate is typically 7.0–7.5%.

Methodology and sources

Income: Statistics Canada T1FF custom tabulations, FY2024, Toronto CMA
City-wide pricing: CMHC Housing Market Information Portal, 2024
Regional pricing: TRREB Q2 2025 market watch
Stress test: OSFI Guideline B-20