A decade ago, earning $100,000 a year felt like a clear milestone — a salary that could open doors to home ownership, especially in Canada’s major cities. But the landscape has shifted dramatically. What once represented strong buying power now struggles to keep pace with soaring real estate prices.
Recent data from a national analysis highlights just how much has changed between 2015 and 2025, revealing a stark decline in what a six-figure income can secure in the housing market.
The Shrinking Reach of $100,000
In 2015, $100,000 in savings could buy a notable portion of an average home in many Canadian cities. Today, it covers far less. This erosion of purchasing power is happening despite a steady rise in household incomes.
Between 2015 and 2023, the median after-tax income for Canadian families and individuals rose from about $56,000 to just over $74,000 — a 32% increase. But home prices and living costs have grown much faster, leaving many feeling financially squeezed.
Comparing Home Prices Across Canada
The numbers tell the story clearly. In 2015, the average home price in Greater Toronto sat around $640,000. A $100,000 down payment covered about 15.6% of the purchase. By 2025, with average prices nearing $1.1 million, that same $100,000 covers only about 9%.
Greater Vancouver shows a similar pattern. In 2015, the average home price was roughly $920,000, meaning $100,000 represented about 10.8% of a home. In 2025, with prices at approximately $1.27 million, it buys just 7.8% — despite already being the most expensive market a decade ago.
This trend repeats across the country:
In some regions, prices have nearly doubled over ten years, cutting the buying power of $100,000 in half.
St. John’s Stands Out
One of the most striking changes is in St. John’s. In 2015, the average home price was about $160,000, and $100,000 could cover roughly 62.7% of it. By 2025, average prices have climbed to nearly $390,000, meaning that same $100,000 now covers only 25.6% — a drop of almost 40 percentage points.
Condos Show the Same Pattern
Condos, often viewed as an entry point into homeownership, have also seen sharp increases. In Vancouver, average condo prices rose from about $400,900 in 2015 to $743,700 in 2025. In Toronto, the jump has been from just under $395,000 to about $685,000 over the same period.
For many first-time buyers, even smaller units are slipping out of reach.
A Decade of Declining Buying Power
In 2015, a $100,000 salary could realistically place someone within reach of home ownership in several parts of Canada. By 2025, it often represents only a fraction of what’s needed to enter the market. While incomes have climbed, they have not kept up with housing prices, creating an affordability gap that continues to widen.
This shift isn’t limited to the largest cities. Smaller urban centers and even regions once considered affordable — like parts of Atlantic Canada and Quebec — have seen rapid growth, moving from mortgage-free lifestyles to competitive bidding wars.
The last ten years have redefined what it means to earn a six-figure salary in Canada. For those hoping to buy a home, $100,000 no longer stretches as far as it once did.
This isn’t just a financial calculation — it’s a reality shaping how and where people can build their futures. The question many are now asking is simple: What does it really take to own a home in Canada today?
Recent data from a national analysis highlights just how much has changed between 2015 and 2025, revealing a stark decline in what a six-figure income can secure in the housing market.
The Shrinking Reach of $100,000
In 2015, $100,000 in savings could buy a notable portion of an average home in many Canadian cities. Today, it covers far less. This erosion of purchasing power is happening despite a steady rise in household incomes.
Between 2015 and 2023, the median after-tax income for Canadian families and individuals rose from about $56,000 to just over $74,000 — a 32% increase. But home prices and living costs have grown much faster, leaving many feeling financially squeezed.
Comparing Home Prices Across Canada
The numbers tell the story clearly. In 2015, the average home price in Greater Toronto sat around $640,000. A $100,000 down payment covered about 15.6% of the purchase. By 2025, with average prices nearing $1.1 million, that same $100,000 covers only about 9%.
Greater Vancouver shows a similar pattern. In 2015, the average home price was roughly $920,000, meaning $100,000 represented about 10.8% of a home. In 2025, with prices at approximately $1.27 million, it buys just 7.8% — despite already being the most expensive market a decade ago.
This trend repeats across the country:
- Victoria dropped from about 18% coverage to 10%
- Saskatoon from 28.5% to 23.7%
- Winnipeg from 35.6% to 23%
- Hamilton-Burlington from 22.2% to 11.2%
- London-St. Thomas and Niagara from around 37% to about 16–17%
In some regions, prices have nearly doubled over ten years, cutting the buying power of $100,000 in half.
St. John’s Stands Out
One of the most striking changes is in St. John’s. In 2015, the average home price was about $160,000, and $100,000 could cover roughly 62.7% of it. By 2025, average prices have climbed to nearly $390,000, meaning that same $100,000 now covers only 25.6% — a drop of almost 40 percentage points.
Condos Show the Same Pattern
Condos, often viewed as an entry point into homeownership, have also seen sharp increases. In Vancouver, average condo prices rose from about $400,900 in 2015 to $743,700 in 2025. In Toronto, the jump has been from just under $395,000 to about $685,000 over the same period.
For many first-time buyers, even smaller units are slipping out of reach.
A Decade of Declining Buying Power
In 2015, a $100,000 salary could realistically place someone within reach of home ownership in several parts of Canada. By 2025, it often represents only a fraction of what’s needed to enter the market. While incomes have climbed, they have not kept up with housing prices, creating an affordability gap that continues to widen.
This shift isn’t limited to the largest cities. Smaller urban centers and even regions once considered affordable — like parts of Atlantic Canada and Quebec — have seen rapid growth, moving from mortgage-free lifestyles to competitive bidding wars.
The last ten years have redefined what it means to earn a six-figure salary in Canada. For those hoping to buy a home, $100,000 no longer stretches as far as it once did.
This isn’t just a financial calculation — it’s a reality shaping how and where people can build their futures. The question many are now asking is simple: What does it really take to own a home in Canada today?
