How much house can I afford on $180,000 a year in Canada?
A home up to about
$954,316
On $180,000 a year, you could afford a home up to about $954,316 with a 20% down payment of $190,864. The mortgage payment would be about $4,226 a month, or $4,962 with property tax and heating.
- Down payment
- $190,864
- Mortgage
- $763,452
- Payment a month
- $4,226
What it costs each month
| Mortgage payment | $4,226 |
| Property tax | $636 |
| Heating | $100 |
| Total | $4,962 |
|---|
How your down payment changes it
| Saved for a down payment | Home up to | Mortgage | Payment a month |
|---|---|---|---|
| $39,468 (6%) | $644,680 | $629,420 | $3,484 |
| $83,552 (10%) | $835,517 | $775,276 | $4,291 |
| $190,864 (20%) | $954,316 | $763,452 | $4,226 |
How it’s worked out
Lenders qualify you at the stress test rate, the higher of your rate plus 2% or 5.25% (6.50% here). Your housing costs at that rate can be up to 39% of your gross income, and all your debt payments up to 44%. On $180,000, that's $5,850 a month for housing.
Assumes no other debts, a 25-year amortization, 0.8% property tax and $100 a month heating, with the stress test and the GDS and TDS limits. New uninsured fixed-rate mortgages of 5 years or more averaged 4.49% in July 2026 (Bank of Canada).
- You qualify at the stress test rate: the higher of your rate plus 2% or 5.25%. Your actual payment uses your real rate.
- Housing costs (mortgage at the stress test rate, property tax, heating and half of any condo fees) can be up to 39% of gross income, and all debt payments up to 44%.
- With less than 20% down, the CMHC premium is added to your mortgage. Heating is an estimate; lenders use your actual costs.
Frequently asked questions
How much house can I afford on $180,000 a year in Canada?
On $180,000 a year, you could afford a home up to about $954,316 with a 20% down payment of $190,864. The mortgage payment would be about $4,226 a month, or $4,962 with property tax and heating.
How much down payment do I need on $180,000?
With $39,468 saved, you could buy a home up to about $644,680. With $83,552 saved, you could buy a home up to about $835,517. With $190,864 saved, you could buy a home up to about $954,316.