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Canada Housing & Accommodation

Renting, buying, mortgage rates, first-time buyer programs, and finding your home in Canada.

🏠 Renting in Canada

📋 Requirements

• Credit check (no Canadian credit = harder)
• Employment letter or proof of funds
• First + last month rent (Ontario), or damage deposit
• References (previous landlord)
• Photo ID. Some need SIN (shouldn't ask but do)

📱 Finding Rentals

• Realtor.ca: #1 property site
• Rentals.ca: Dedicated rental platform
• Facebook Marketplace: Very popular
• Kijiji: Especially in smaller cities
• PadMapper: Map-based searching
• Zumper: Good for apartments

🛡️ Tenant Rights

• Rent control in Ontario (for pre-2018 units)
• BC has annual rent increase cap (~3.5%)
• Landlord needs proper notice for eviction
• 60-90 days notice from landlord (varies by province)
• Damage deposits must be returned (interest in some provinces)

💰 Average Rent (1-BR)

• Vancouver: CAD $2,500
• Toronto: CAD $2,400
• Ottawa: CAD $1,800
• Montreal: CAD $1,600
• Calgary: CAD $1,700
• Edmonton: CAD $1,400
• Winnipeg: CAD $1,200

🏡 Buying a Home

  • Average Price (2026): CAD $680,000 nationally. Toronto: $1.1M. Vancouver: $1.2M. Calgary: $550K. Montreal: $520K.
  • Down Payment: 5% for first $500K, 10% for $500K-$1M, 20% for $1M+. First-time buyers may qualify for FHSA/RRSP HBP.
  • Mortgage Rates (2026): 5-year fixed: ~4.5-5.5%. Variable: ~5.5-6.5%. Stress test: qualify at rate +2%.
  • First-Time Buyer Incentives: FHSA ($40K tax-free), RRSP Home Buyers' Plan ($35K), Land Transfer Tax rebate.
  • Process: Pre-approval → house hunting (realtor) → offer → inspection → closing (30-60 days). Lawyer needed.
  • Foreign Buyer Ban: Non-residents restricted from buying residential property (2023-2027 ban with exceptions).

📖 Explore More About Canada

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Cost of Living

City Comparison
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Banking

Mortgage & FHSA
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Major Cities

Areas to Live
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Tax System

Property Tax