Think you can afford a home in Montreal? Here's the minimum salary you need

If you're hoping to buy a home in Montreal anytime soon, you may want to brace yourself (unless you're pulling in well over six figures).

According to a new Wealth North report based on April 2025 data, the median price of a single-family home in Montreal has hit $625,000, up $15,000 from March. That jump means you now need an annual income of $163,330 to afford it — a $3,319 increase in just one month.

That income level puts buyers in the top 4% of earners nationwide, based on Canadian income percentiles. For context, the average Canadian salary in 2025 is about $67,000, according to Statistics Canada. That's not even half of what it now takes to own a median-priced home in Montreal.

This calculation assumes the minimum down payment, CMHC mortgage insurance, a 25-year amortization, and typical monthly costs like $354 in property taxes and $150 in heating.

If you're hoping to get into the market with a condo instead, there's slightly better news. The median condo price in the Montreal CMA is $424,500, which requires an annual income of $118,970 — still nearly double the national average salary, but a significantly lower bar than for a house.

Here's how much you’d need to earn to buy a home in different parts of the region:

Single-family homes (April 2025)

• Montreal CMA: $625,000 home → $163,330 income
• Island of Montreal: $800,000 home → $202,048 income
• Laval: $600,000 home → $157,799 income
• North Shore: $561,900 home → $149,369 income
• South Shore: $633,500 home → $165,211 income
• Vaudreuil-Soulanges: $629,750 home → $164,381 income
• Saint-Jean-sur-Richelieu: $581,500 home → $153,706 income

Condos (April 2025)

• Montreal CMA: $425,000 condo → $119,000 income
• Island of Montreal: $475,000 condo → $130,143 income
• Laval: $410,000 condo → $115,762 income
• North Shore: $370,000 condo → $106,913 income
• South Shore: $395,000 condo → $112,444 income
• Vaudreuil-Soulanges: $389,000 condo → $111,116 income

You can explore more regions and test out your own affordability using Wealth North's income-to-home-price calculator.

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