Buying a home in KW remains out of reach for many
Posted Jan 18, 2026 11:17:10 AM.
Last Updated Jan 19, 2026 12:20:04 PM.
A $100,000 salary might not be enough buy a single detached home in Kitchener-Waterloo (KW), but it could get a condo.
A new report from the real estate firm Zoocasa finds that the $100,000 threshold, once considered to be the gold standard financial finish line, is only enough to buy a home in four major Canadian cities. Kitchener-Waterloo is not one of them.
The report avoids what it says is an unrealistic 20 per cent down payment and instead uses the average annual salary in each province from Statistics Canada to calculate the max budget available. This is then compared to the average home price in each city.
According to the report, the average cost of a home in KW is $642,600, whereas the max budget for the average person living in Ontario is just shy of $400,000.
Using this calculation, the average person looking to buy a home in the region will face a $244,000 deficit.
Of the 18 major cities studied, KW has the fifth greatest deficit.
No major cities in Ontario met the threshold for affordability.
But while those looking to purchase a property in KW might not be able to afford a house, a condo could be a reasonable alternative.
The average price of a condo-apartment in KW is $366,784, giving buyers an approximate $32,000 buffer.
While there are dissenting opinions on whether buying a condo is a good investment, research shows that young and first-time buyers have more interest in condo living.
A report from Rates.ca from November 2025 found 39 per cent of Canadians under 35 would be interested in buying a condo.
According to the Waterloo Region Association of Realtors condo prices in Waterloo Region decreased 22.9 per cent between December 2024 and 2025. Detached home prices dropped 6 per cent over the same time period.
