What salary do you need to buy a house in Montreal in 2026?

To buy a single-family home at the median price of $615,000 in Montreal in 2026, a household needs a gross income of approximately $130,000 per year, with a 10% down payment ($61,500) and a 3.89% fixed rate.

What is the minimum down payment in Quebec in 2026?

The minimum down payment is 5% for properties up to $500,000, then 10% on the portion between $500,000 and $1,500,000. For a $615,000 home, the minimum is $36,500 (5% on $500K + 10% on $115K).

Can you buy a house on a single salary in Quebec?

On a single salary, access is difficult in Montreal ($130,000 required) but possible in regions: Sherbrooke ($85,000), Trois-Rivières ($75,000) or Saguenay ($70,000) homes remain accessible.

What programs exist for first-time buyers in Quebec?

First-time buyers can access the HBP (withdraw $60,000 from RRSP), the FHSA ($8,000/year), the federal $10,000 tax credit, and welcome tax rebates in some municipalities.

What is the maximum debt ratio for a mortgage?

Lenders require a maximum GDS (gross debt service) ratio of 39% and a maximum TDS (total debt service) ratio of 44%. This means your housing costs should not exceed 39% of your gross income.

What Salary Do You Need to Buy a House in Quebec in 2026?

🎯 Calculate your buying power in 2 minutes

Free estimate based on your income and region

Buyer calculator →

Buying your first home in Quebec in 2026 requires a household income that varies considerably by region. Here are detailed calculations based on current median prices and a 5-year fixed rate of 3.89%.

📊 What is your property worth? Get a free estimate in 2 minutes.

Estimate my property

📊 Required Salary by City (Single-Family)

Calculations based on: 10% down payment, 3.89% fixed rate, 25-year amortization, max 39% GDS ratio.

Montreal

$130,000/yr

Home at $615,000

Gatineau

$105,000/yr

Home at $490,000

Sherbrooke

$85,000/yr

Home at $420,000

Quebec City

$80,000/yr

Home at $380,000

💡 Tip: a Montreal condo (median $428,000) requires only about $92,000 in income, making it more accessible as a first purchase.

💰 Minimum Down Payment — CMHC Rules

✅ $0 to $500,000: minimum 5% down payment

✅ $500,001 to $1,500,000: 5% on first portion + 10% on the remainder

✅ Over $1,500,000: minimum 20% down payment

$25,000

Down payment for $500,000

$36,500

Down payment for $615,000

$61,500

10% down ($615,000)

📋 GDS and TDS Debt Ratios

Lenders use two ratios to assess your borrowing capacity:

GDS (max 39%)

Mortgage + taxes + heating

Divided by gross income

Must be ≤ 39%

TDS (max 44%)

GDS + all other debts

Car, cards, student loans

Must be ≤ 44%

⚠️ Note: the stress test requires banks to calculate eligibility at the qualifying rate (contract rate + 2%, minimum 5.25%), not the actual rate. This reduces your borrowing capacity by approximately 20%.

🎁 Programs for First-Time Buyers

✅ HBP (Home Buyers’ Plan) — Withdraw up to $60,000 from your RRSP tax-free

✅ FHSA — Contribute $8,000/year (max $40,000) with tax deduction and tax-free withdrawal

✅ Federal tax credit — $10,000 non-refundable credit ($1,500 savings)

✅ Welcome tax — Some municipalities offer rebates for first-time buyers

💡 Strategies to Access Homeownership

1. 🏠 Start with a condo — More accessible than a house, build your equity

2. 🏢 Buy a plex — Rental income is factored into eligibility calculations

3. 🗺️ Explore the regions — Cities 1hr from Montreal offer homes at half the price

4. 🤝 Buy with a partner — A co-buyer doubles your borrowing capacity

5. 💰 Maximize FHSA + HBP — Combine both to accelerate your down payment

💳 Buyer calculator 💵 Seller calculator

Ready to buy? Estimate your capacity

Free estimate and realistic buying budget calculation.

Estimate a property →Compare brokers

Restez informé du marché immobilier

Recevez nos analyses et conseils chaque semaine, directement dans votre boîte courriel.

📊 What is your property worth? Get a free estimate in 2 minutes.

Estimate my property