GTA Income-to-Buy Index
July 2026 · Updated August 12, 2026Prices: TRREB Market Watch, July 2026
Everyone publishes what GTA homes cost. This index publishes what you need to earn to buy one — the household income required to pass the mortgage stress test on the typical home in each segment. It is recalculated every month from TRREB data, and the entire method is below so anyone can reproduce or challenge it.
To buy the average GTA home in July 2026, at 20% down
$184,394
household income · $1,003,956 home · qualifying at 6.16% under the stress test
Change the assumptions
Every figure on this page recalculates. Defaults are stated in the method below.
Stress-tested at 6.16%
The index — July 2026
Ranked from most to least attainable. Condominium segments include a monthly fee assumption; half of it counts toward the debt-service ratio.
| Property type | Avg. price | Down payment | Monthly cost | Income needed |
|---|---|---|---|---|
| Condo apartment+$650/mo fees | $636,323 | $127,265 | $4,178 | $128,562 |
| Condo townhouse+$550/mo fees | $704,367 | $140,873 | $4,524 | $139,208 |
| Freehold townhouse | $903,986 | $180,797 | $5,411 | $166,492 |
| Semi-detached | $964,922 | $192,984 | $5,766 | $177,404 |
| All property types (GTA average) | $1,003,956 | $200,791 | $5,993 | $184,394 |
| Detached | $1,291,690 | $258,338 | $7,667 | $235,919 |
What does your income reach?
Method
An index nobody can recompute does not deserve to be believed. Here is every step.
- 1
Start from TRREB's published average price
Average sold price by property type for July 2026, from TRREB Market Watch, July 2026. Average rather than benchmark, because the average is what TRREB publishes by segment.
- 2
Apply the down payment
Default 20%, adjustable above. The statutory minimum is 5% of the first $500,000, 10% of the portion to $1,500,000, and 20% at or above $1,500,000. Below 20% down, CMHC default-insurance premiums of 2.8%–4.0% of the loan are added to the principal.
- 3
Stress-test the rate
Lenders qualify borrowers at the greater of the contract rate plus two points or 5.25%. At the 4.16% default the qualifying rate is 6.16%.
- 4
Amortise the Canadian way
Canadian fixed-rate mortgages are compounded semi-annually, not monthly, under the Interest Act. The effective monthly rate is (1 + annual ÷ 2)^(1/6) − 1. Using annual ÷ 12 overstates the payment, and many online calculators get this wrong.
- 5
Add the other housing costs
Gross Debt Service counts principal, interest, property tax, heat and half of any condo fee. We assume property tax at 0.75% of price annually and $150/month for heat. Condo fees are assumed at $650/month for apartments and $550/month for condo townhouses.
- 6
Divide by the GDS ceiling
Insured mortgages cap Gross Debt Service at 39% of gross income. Income required = annual housing cost ÷ 0.39. We use GDS rather than the 44% TDS ceiling because TDS depends on other debts we cannot know.
What this index does not do
- It ignores other debts. A car loan or student debt pushes the real requirement higher through the 44% TDS ceiling.
- It assumes a single tax and heat figure across the region. Property tax rates differ by municipality — Toronto's is among the lowest in the GTA.
- It is a qualification threshold, not advice on what you should borrow. Qualifying for a mortgage and comfortably carrying it are different questions.
- Closing costs are excluded. Budget those separately with the land transfer tax calculator.
Reusing these figures? Please do — that is what it is for. Cite as “RealEstateHQ GTA Income-to-Buy Index, July 2026” and link back to this page so readers can see the method and the assumptions behind the number.
Sources
- Prices — TRREB Market Watch, July 2026
- Qualification rules — Financial Consumer Agency of Canada and CMHC: the minimum down payment tiers, the stress-test qualifying rate, and the 39% GDS / 44% TDS ceilings.
- Rate default — average 5-year fixed rate as published by Canadian rate comparison services, 10 August 2026. Adjustable above.
General information, not financial advice. Lender policies vary and qualification is decided by your lender. Figures are recalculated monthly with each TRREB release; see the GTA housing market report for the underlying data.