While Winnipeg may be one of the most affordable housing markets in the country, experts claim it may not be cheap enough for many Canadians.
A new study by Workopolis.com named Winnipeg to be one of the cheapest housing markets, as the average cost of buying a house there is $270,605.
However, for a family to afford a Winnipeg home, the salary must be at an average of $58,235, which experts say isn’t reasonable. “Wages are also less” and this make Winnipeg properties unaffordable for the average person.
"We have a good standard of living here, but we still have a large proportion of our population that isn't making enough money,” said Karen Keppler, an economics professor at the University of Winnipeg.
Workopolis.com also stated the average monthly mortgage rate in Winnipeg to be at $1,179 and the property tax at $274.
Meanwhile, the study named Halifax the cheapest market ($264,447), and Vancouver as the most expensive ($819,336).
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