Ottawa Home Values Rise, Reflecting Stronger Market This Summer

The income needed to buy a home in Ottawa rose to $137,400 in August as the average home price increased to $637,700. Mortgage payments averaged $3,291 monthly. Ottawa, Halifax, and Fredericton saw affordability worsen due to rising home prices, while Toronto, Vancouver, and Montreal experienced decreases in required income and home prices. Mortgage rates remained steady, not affecting affordability.