Gauging a starter home as one that is half of the median price of a home in any given city, and taking into account the median household income of current renters, the real estate listing site has shared where prospective homeowners can still land a "starter home" that isn't absolutely beyond their means, and is still in an actual city.
According to the findings, renters in 36 of the 50 largest cities in Canada — and 24 of the largest in Ontario — cannot afford to buy their first home where they live, even at this much below the benchmark price. In Richmond Hill, Oakville, Markham, Vaughan, and Burlington, renters have it even worse, making 53 to 59 per cent less than required.buy a starter home — most of them in Ontario — there are still some locales where renters can, if you're willing to relocate. And in these spots, it's surprsiingly all about the income level, and less about real estate pricing.
These more affordable cities include Edmonton, St. John's, Regina, Winnipeg, Saskatoon, and a ton of Quebec municipalities.