What a Home Costs to Close in Each Canadian City (2026 Comparison)
The same 20% down buys very different homes across Canada: $34,950 in transfer tax on a $1.05M Toronto home versus $1,180 on a $600K Calgary one. Nine cities.
Prices differ across Canada by a factor of three or more, and the rules on top of the price (transfer tax, PST on mortgage insurance, registration fees) widen the gap further. At representative 2026 price points, a buyer with 20% down needs about $265,000 in cash to close in Vancouver and $248,000 in Toronto, against $124,000 in Calgary, $88,000 in Winnipeg and $75,000 in St. John's. This guide does not publish resale price averages, which are licensed data; the price points below are illustrative round numbers chosen to sit within each city's typical range, and you should check your local real estate board's monthly report for current figures.
Figures come from the CostToClose guided buying flow.
Cash to close at a representative price, 20% down
| City | Illustrative price | Down payment | Transfer tax or fees | Legal, title, inspection (estimate) | Cash to close |
|---|---|---|---|---|---|
| Vancouver | $1,200,000 | $240,000 | $22,000 | $2,700 | $264,700 |
| Toronto | $1,050,000 | $210,000 | $34,950 | $2,700 | $247,650 |
| Ottawa | $680,000 | $136,000 | $10,075 | $2,700 | $148,775 |
| Montréal | $600,000 | $120,000 | $7,349 | $2,700 | $130,049 |
| Calgary | $600,000 | $120,000 | $1,180 | $2,700 | $123,880 |
| Halifax | $550,000 | $110,000 | $8,250 | $2,700 | $120,950 |
| Edmonton | $450,000 | $90,000 | $910 | $2,700 | $93,610 |
| Winnipeg | $400,000 | $80,000 | $5,778 | $2,700 | $88,478 |
| St. John's | $350,000 | $70,000 | $2,716 | $2,700 | $75,416 |
Run through the CostToClose calculator, 14 September 2026, repeat buyer, using each jurisdiction's 2026 transfer tax or fee schedule with an 80% mortgage. Tax adjustments excluded. Price points are illustrative, not published averages.
What the table shows
- Transfer tax reorders cities. Toronto's price is below Vancouver's, but its combined provincial and municipal tax ($34,950) is more than half again Vancouver's ($22,000). Calgary and Montréal have the same illustrative price; Calgary needs $6,200 less cash.
- The down payment is still the story. At 20%, the rule-based costs are 1% to 3% of price everywhere; the down payment is 20%. Cities are expensive because of the price, not the closing costs. It's the closing costs buyers forget to budget for.
- Under 20% down, the ranking shifts again: Ontario, Quebec, Saskatchewan and Manitoba add PST on the insurance premium; BC, Alberta and the Atlantic provinces do not.
Income needed at the same price points
10% down, 4.49% contract rate, stress-tested at 6.49%, 25 years, city property tax estimate, no other debt:
| City | Illustrative price | Approx. income needed |
|---|---|---|
| Vancouver | $1,200,000 | ≈ $242,500 |
| Toronto | $1,050,000 | ≈ $223,700 |
| Ottawa | $680,000 | ≈ $153,000 |
| Calgary | $600,000 | ≈ $128,300 |
| Montréal | $600,000 | ≈ $129,900 |
| Halifax | $550,000 | ≈ $125,000 |
| Edmonton | $450,000 | ≈ $100,600 |
| Winnipeg | $400,000 | ≈ $92,900 |
| St. John's | $350,000 | ≈ $78,000 |
This example was computed with the CostToClose calculator. Vancouver and Toronto prices above $1 million cannot use 10% down at $1.5 million or more; at these price points they still can.
Where to find actual prices
Your local real estate board publishes a monthly report with benchmark and average prices: the Toronto Regional Real Estate Board, Greater Vancouver Realtors, the Calgary Real Estate Board, and so on. Statistics Canada publishes the New Housing Price Index for new construction. CostToClose does not reproduce board data; enter the price you find into the calculator for exact closing costs.
Frequently asked questions
Which Canadian city is cheapest to buy a home in?
Among large cities, St. John's, Winnipeg and Edmonton have the lowest prices; Calgary has the lowest closing costs relative to price because Alberta has no transfer tax or PST.
How much cash do I need to buy a house in Toronto?
At a $1.05 million price with 20% down, about $248,000: $210,000 down, $34,950 in provincial and municipal land transfer tax, and roughly $2,700 in legal and related fees.
Why does Toronto cost more to close than Vancouver?
Toronto's municipal land transfer tax doubles the provincial tax. Vancouver has only the provincial property transfer tax.
Where can I find the average home price in my city?
Your local real estate board's monthly market report. Board data is licensed, so CostToClose links to it rather than republishing it.
Does the calculator work for any price?
Yes. Enter your city's current price and the calculator applies that jurisdiction's rules.
Sources
- Provincial and municipal transfer tax and fee schedules (Ontario, Toronto, BC, Alberta, Quebec, Montréal, Nova Scotia, Manitoba, Newfoundland and Labrador) — checked 14 Sept 2026
- City property tax rates (see Property tax rates by city) — checked 14 Sept 2026
- Statistics Canada, New Housing Price Index — checked 14 Sept 2026
This guide is general information for Canadian home buyers and sellers, checked against the sources listed above on the date shown. It is not legal, tax, or mortgage advice. Rules and rates change; confirm current figures with your lawyer or notary, your lender, or the government office that administers the tax before relying on them.