Can You Afford to Buy in Toronto?
Live DataLast updated: March 31, 2026·Source: OECD, Numbeo & National Statistics
$680,000
Home Price
$136,000
Down Payment (20%)
$2,987.163/mo
Mortgage Payment
$128,021/yr
Required Salary
💡 Why it matters: Toronto
To afford a home in Toronto at 5.2% mortgage rate, you need a salary of at least $128,021/year. The local median income is $67,000/year — meaning most residents would struggle to buy at current prices. Alternatively, renting at $2,200/mo may be more practical.
Mortgage Breakdown (30yr fixed)
| Home Price | $680,000 |
| Down Payment (20%) | $136,000 |
| Loan Amount | $544,000 |
| Interest Rate | 5.2% |
| Monthly Payment | $2,987.163/mo |
| Required Annual Salary (28% rule) | $128,021 |
| Local Median Income | $67,000 |
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HomePricePeek Research TeamData Specialists
Our team analyzes data from OECD, Numbeo & National Statistics to deliver accurate, up-to-date information. All data is verified and cross-referenced with official sources.
✓ OECD, Numbeo & National Statistics✓ Updated 2025
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