A new study published by the Quebec Professional Association of Real Estate Brokers (QPAREB) has identified the deterioration of the province’s single-family home affordability over the past 10 years, with some regions experiencing a higher level of challenge.
The QPAREB study found that while single-family home prices have doubled in most regions since 2015, household incomes have only increased by only 15% to 25%, after taxes and adjusted for inflation. The minimum required down payment has more than doubled in almost every region within Quebec, with nearly half of all transactions now exceeding the $500,000 threshold, compared to about 5% in 2015.
Ten years ago, it took Quebec buyers about three years to save for the down payment, whereas it now takes five years – while on the Island of Montreal, this period has grown to more than 10 years in 2025.
The survey also found monthly mortgage payments are two to three times higher than they were 10 years ago, with monthly payments in outlying regions are under $1,500 while on the Island of Montreal they average about $3,800.
At the provincial level, the share of net income devoted to mortgage payments has risen from 15% to 32% over the past 10 years. The highest ratios are found on the Island of Montreal (48% of income), in Montreal’s inner suburbs, and in Estrie. The more affordable regions are Abitibi-Témiscamingue, Côte-Nord, and Gaspésie—Îles-de-la-Madeleine, where the mortgage-to-income ratio is below 20%.
“A family’s financial ability to become a homeowner in their region depends largely on their disposable income, which must be sufficient to cover mortgage payments,” said Hélène Bégin, QPAREB senior economist. “Even in areas where median incomes are lower, purchasing a property may still be possible if monthly payments are also lower.”
“Current conditions leave little hope for a rapid improvement in affordability,” added Charles Brant, QPAREB market analysis director. “The rise in single-family home prices continues to outpace after-tax income growth. Moreover, the labor market lacks momentum, and a further easing of mortgage rates remains uncertain.”
