Here's what you actually need to make in a year to afford a home in Toronto right now

these days, but affordability seems to be worse than ever lately, with real estate prices remaining unduly high and more homeowners

And, while this figure is likely unbelievable to most residents and is the second-highest of any major Canadian city , it actually shows a slight improvement compared to the month earlier. The mortgage comparison site, which provides these measures monthly, found that purchasing the average house or condo in the city necessitated an annual salary of about $1,250 more in April 2024 than May, due to the mean home prices being $5,900 lower.

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