Nearly $137,000.
That’s how much money a household in North Bay would have to earn each year to buy a 1,500 square foot house in the city, according to a study by HelloSafe Canada.
Over 50 cities are ranked from highest to lowest gross annual salary needed to purchase that size of a home.
North Bay was the sixth lowest in the survey.
Timmins was the lowest at just under $65,000 while Toronto was the highest at nearly $592,000.
“The high real estate prices in Ontario not only underscore the pressing need for innovative solutions to increase housing supply but also highlight the urgent necessity for comprehensive policies aimed at fostering affordability and equitable access to housing for all residents,” says Alexandre Desoutter, editor-in-chief for HelloSafe Canada.
Both Sault Ste. Marie and Sudbury are also on the lower end of the scale.
In fact, the Soo is the second lowest (nearly $98,000) and the only other Ontario community under $100,000 on the list.
Sudbury was the 15th lowest at nearly $169,000.
Here’s a link to the survey results: https://hellosafe.ca/en/mortgage-life/salary-real-estate-map-ontario
