And the Award for Most Expensive Housing Market in North America Goes to…

Mexico, Canada, and the United States are all at least "moderately unaffordable", according to studies, but which country is the most expensive overall?

housing market

…Canada, for its median house price of $485,680, weighing in at almost twice as much as the median sale price in the US, which stands at $258,300, and making it the most unaffordable housing market on the continent, according to point2homes.com

When you also consider that the annual median family income in Canada is $64,752, affordability drops even further — for reference, the American benchmark of $56,516, so it still falls into the “seriously unaffordable” category.

Buying a home in Mexico may only cost $41,748, but the average income is only $12,806, which is 4.4 times and 5 times less than the US and Canada, respectively, so the country’s housing market is still considered “moderately unaffordable”. Food for thought if you’re thinking of relocating anywhere.

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1 comment

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    In Canada… Will the cost of housing continue to climb as the minimum wage increases? Debt burden? Interest rates? Inflation? Rising cost of Living? Interesting times ahead. Thoughts?