Buying a home in Montreal in 2025? You'll need a six-figure salary (at least)

If you're hoping to buy a home in Montreal this year, you'll want to double-check your budget — because it just got a little harder.

According to a new report from WealthNorth, the median price for a single-family home in the Montreal CMA rose to $610,000 in March 2025, up $10,000 from February. To afford that, you'd now need an annual household income of $168,507, based on the Canada Mortgage and Housing Corporation's 32% affordability rule.

For those keeping count, that's a $2,452 jump in required income from just one month ago.

Meanwhile, the average weekly earnings in Quebec were about $1,229 as of November 2024, according to Statistics Canada. That adds up to roughly $63,900 a year before taxes

Here's what it now takes to buy a median-priced single-family home in Montreal and surrounding regions:

Single-family homes (March 2025)

• Montreal CMA: $168,507 for a $610,000 home
  
• Island of Montreal: $210,199 for a $780,000 home
• Laval: $162,621 for a $586,000 home
• North Shore: $156,245 for a $560,000 home
• South Shore: $170,776 for a $619,250 home
• Vaudreuil-Soulanges: $163,909 for a $591,250 home
• Saint-Jean-sur-Richelieu: $152,566 for a $545,000 home

And while home prices climbed in most areas, Laval, Vaudreuil-Soulanges, and the North Shore actually saw slight price drops in March — meaning slightly lower income thresholds.

If you're not quite there income-wise, condos remain a more realistic option.

Condos (March 2025)

• Montreal CMA: $121,910 for a $420,000 condo
• Island of Montreal: $137,238 for a $482,500 condo
• Laval: $117,005 for a $400,000 condo
• North Shore: $108,176 for a $364,000 condo
• South Shore: $117,005 for a $400,000 condo
• Vaudreuil-Soulanges: $105,969 for a $355,000 condo
• Saint-Jean-sur-Richelieu: N/A

For reference, the affordability estimates are based on a 20% down payment, 25-year amortization, and current mortgage rates of 6.84%, stress tested at 8.84%. The calculations also account for average property taxes and heating costs.

If you want to plug in your own numbers or see what you can afford on your current income, you can try the WealthNorth mortgage calculator here.

AI tools may have been used to support the creation or distribution of this content; however, it has been carefully edited and fact-checked by a member of MTL Blog's Editorial team. For more information on our use of AI, please visit our Editorial Standards page.