Condos in Toronto are now more affordable than in Montreal

Toronto condo prices have dropped to pre-pandemic affordability levels, with the affordability index at 36.1% of pre-tax income, below 2019's 38.5% but still above the recommended 30%. Montreal condos are now less affordable than Toronto's for the first time in over a decade. Despite price declines, affordability remains a concern due to rising fees, taxes, and interest rates. Single-family homes in Toronto are highly unaffordable, costing 80% of pre-tax income.