
According to Royal LePage, Canada’s leading real estate services provider, peak millennials[1] are seeing significant disparities in
the properties they can afford in the country’s largest cities. With a median salary of $38,148[2], this generation typically has a
maximum home buying budget of $203,246[3]. This factors in a 20 per cent down payment, and the impact of OSFI’s new stress test,
which has reduced the average peak millennial’s purchasing power by approximately 16.5 per cent, or $40,103. However, given that
the aggregate Canadian home value currently rests at $605,512[4], many must either bide their time or look for creative solutions to
finance a home purchase.
Continue reading From a Studio Apartment to a Large Detached Home: What the Average Peak Millennial Can Afford Across Canada on Royal LePage website