Despite a terrible trifecta of rising real estate prices, inflation, and interest rates, there are still several Canadian cities where single-income buyers can afford a home.
In a new report, Zoocasa has narrowed down the cities where solo buyers can qualify for a mortgage and purchase property – no partner, parents, or friend group required.
To determine the best markets for single-income buyers, the real estate agency compared average home prices and qualifying mortgage amounts with regional income levels.
Out of the 20 cities on Zoocasa’s list, Regina was deemed the most affordable. Someone earning the city’s median income of $58,000 would qualify for the purchase of an average-priced home, which runs $322,800.
Solo buyers in Saint John who earn the median income of $48,000 could also afford an average-priced ($294,900) home in the city.
With a median income of $50,400 and…