Notes for this analysis:

 

• Choose a starting point for home prices and incomes (based on today's numbers) as well as an estimated annual growth rate. Based on your selections, you can see how home prices and incomes would change over the next 25 years. The purpose of this tool is to help us better understand the medium to long-term implications of various growth rates, as it can be difficult to perceive how quickly an amount can change even with a single-digit growth rate.

 

• For reference:

  • 2019 income metrics per Stat Can

    • Average: $49,000

    • Median: $37,800

    • Average (25 to 54 years old): $58,400

    • Median (25 to 54 years old): $48,200

    • Annual growth rate of approximately 3%

  • ​National benchmark home prices per CREA

    • May 2021: $728,800

    • January 2005: $242,400​

    • Annual growth rate of approximately 7%

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• Hover over any year to see the home price to income ratio.

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