From oceanfront escapes to alpine retreats, Canada’s landscapes are as diverse as its home prices. Whether you’re dreaming of charming coastal towns, European-style cities, or rugged mountain life, there’s a place for almost every lifestyle you’re looking for. But when it comes to affordability? That’s another story.
Zoocasa found the median prices for single-family homes in 20 of Canada’s top vacation destinations, calculating both the average monthly mortgage payment and the annual income needed to afford a home in each location. Average monthly mortgage payments were calculated based on a 20% down payment and a 5-year fixed mortgage rate of 3.89%.
Here’s how much income your household will need to make to turn your favorite vacation destination into your home address.
Coastal Charm and Prairie Magic in Affordable Vacation Destinations
Cape Breton Island
If you’re passionate about going on coastal hikes and seeing stunning cliffside views, Cape Breton Island is an affordable choice. With average home prices around $271,734, you can live the East Coast dream on a modest $45,000 income. Head farther to the South Shore with its iconic lighthouse views of Peggy’s Cove, and it’s a bit pricier at $430,435, requiring an income of $71,280.
Charlottetown
Dreaming of red sand beaches and world-famous seafood? Charlottetown delivers all the coastal charm without breaking the bank. Known for its warm hospitality and cobblestone-lined Victoria Row, PEI’s capital city offers a relaxed lifestyle and stunning views of the Atlantic. With a median home price of just $403,987, a household income of $66,880 is enough to plant roots in one of Canada’s most welcoming communities.
Prince Albert
For a more affordable, underrated year-round vacation spot, Prince Albert, Saskatchewan, offers the perfect mix of city convenience and natural beauty. Just outside the city, Prince Albert National Park features vast boreal forests, aspen parkland, and pristine lakes, creating a stunning backdrop for outdoor adventures in every season. In the summer, visitors can enjoy canoeing, hiking, wildlife watching, and swimming at sandy beaches, while winter brings cross-country skiing and snowshoeing.
With a median home price of just $254,600 and an estimated monthly mortgage of $1,322, it’s an affordable vacation destination that should be on your bucket list.
The Undeniable Appeal of a Quebec Holiday Home
Quebec City
From historic architecture to festive winter carnivals, Quebec City offers a more affordable way to experience the feel of a European vacation without an international flight. Enjoy cultural richness and a four-season lifestyle for less than you might think. A median home price of $456,000 and an income requirement of $75,480 make this UNESCO-recognized gem surprisingly accessible.
Montreal
Montreal strikes a balance between cosmopolitan living and a lower cost of entry more effectively than many major cities. With a single detached home price costing $804,000 and an income threshold of $133,120, you’ll enjoy vibrant arts, diverse cuisine, and a walkable downtown—all with a distinct French flair.
West Coast Living isn’t Affordable for Most
Vancouver, BC
In Vancouver, you’re only minutes from beaches, forests, and mountains—all while enjoying a warmer climate than the rest of the country. But living in beautiful British Columbia means paying a premium: with average home prices nearly $2M, you’ll need at least $330,200 in income. Want to live near Stanley Park? Homes in the nearby West End average $3.4M, placing you steps from lush trails and waterfront paths.
Sunshine Coast, BC
Accessible only by ferry or plane, the Sunshine Coast is a part of mainland BC but feels like a world away. For those craving serenity, ocean views, and adventure, homes average $891,600, with an income requirement near $148,000. It’s a haven for outdoor enthusiasts (think kayaking, hiking, cycling, and even scuba diving) all set against a backdrop of coastal rainforest.
Mountain Escapes with a Steep Price Tag
Whistler, BC
Canada’s ski capital is just as magical in summer, but owning here requires deep pockets. With median home prices over $2.5 million, you’ll need an annual income of $419,000 to join the après-ski elite. It’s one of the country’s most expensive real estate markets, but the mountain views might just make up for it.
Canmore, AB
Just outside Banff, Canmore blends alpine charm with upscale amenities. Whether you’re into skiing, hiking, or just sipping coffee with a mountain view, it’s a lifestyle worth swooning over, but it doesn’t come cheap. Homes average $1.7 million, with an income requirement of $282,160. For many, the fresh mountain air is worth every penny.
Calgary, AB
If you’re dreaming of a home that offers both city life and a quick jaunt over to the Rockies, Calgary, Alberta, might be your perfect match. Every July, the city comes alive with the world-famous Calgary Stampede, setting the tone for a vibrant and festive lifestyle. With median home prices around $764,300 and an income requirement of $127,000, Calgary remains relatively affordable by big-city standards. Best of all, you’re just a few hours’ drive from Banff and Jasper national parks, making weekend escapes to the Rockies a regular part of life.
Making a Home in Ontario’s Premier Travel Destinations
Prince Edward County
Dubbed “Canada’s underrated answer to the Hamptons” by The Telegraph, Prince Edward County is known for its wineries, boutique hotels, and beachside escapes. Median home prices are around $781,000, and an income of $129,320 will secure you a spot in this weekend getaway-turned-luxury hometown.
Niagara-on-the-Lake
Just a short drive from the roar of Niagara Falls, Niagara-on-the-Lake is a picturesque vacation spot famed for its vineyards, historic cobblestone streets, and charming boutique inns. But this postcard-perfect region doesn’t come cheap. In fact, a median home price sits around $944,600, meaning you’ll need an income of $156,400 to live here full-time. That said, with Niagara Falls being Canada’s most visited tourist destination as well as “the honeymoon capital of the world”, investing in a vacation property could be perfect for getting out of the city on long weekends, while also providing a steady stream of rental income throughout the year.
Toronto
Toronto, Canada’s largest city, is a cultural powerhouse boasting a wealth of concerts, festivals, world-class museums, and international dining options. It draws over 9 million visitors a year, including 6.3 million from across the country, making it a city that truly never sleeps. However, living here comes with a steep price tag. The median home costs $1.64 million, which requires an income of $271,840 to comfortably manage the mortgage. Even a one-bedroom condo in sought-after areas like Central Downtown, Entertainment District, and Liberty Village area averages $785,990, but you’ll be just steps from iconic venues like the Rogers Center, Budweiser Stage, and end-of-summer favorite, the CNE.
Vaughan
If you’re hoping to live near Canada’s Wonderland and make the most of that season pass, be prepared for more than just rollercoaster highs. In Vaughan, the average home costs $1.65 million, which requires a household income of approximately $274,600 per year. Between the theme park, premium outlets, and rapid growth, Vaughan offers no shortage of entertainment, but affordability isn’t part of the ride.
Ottawa
While Ottawa might not top the list of Canada’s must-see tourist hotspots, it’s a rite of passage for Canadian students to visit the nation’s capital on a school trip. With a median home price of $707,600 and an income requirement of $117,160, Ottawa offers relative affordability for those seeking big-city living in Ontario, without being a part of the expensive GTA housing bubble.
Buying a Vacation Home in Canada’s Top Holiday Spots
With more than 45 national parks and coast-to-coast landscapes that range from alpine peaks to sandy beaches, Canada is a country built for travellers. But whether you’re eyeing a home near a UNESCO site or just a short walk from Canada’s Wonderland, one thing’s for sure: living next door to all that beauty and excitement doesn’t usually come cheap.
Whether you’re dreaming of beachfront views or ski-town charm, affording a vacation home might be more possible than you think. Start your search today with Zoocasa!