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harmonybudget

Canada · Updated June 2026

Saving for a first home in Canada, city by city

The down payment you need, how long it takes to save, and how the FHSA helps — for every city we track, each with a single first-home reachability score. Higher score = faster to save for.

1
St. John'sNL
$17,000 down · 1 year, 5 months to save · Very reachable
88
/ 100
2
EdmontonAB
$20,750 down · 1 year, 6 months to save · Very reachable
85
/ 100
3
WinnipegMB
$18,750 down · 1 year, 6 months to save · Very reachable
85
/ 100
4
SaskatoonSK
$20,000 down · 1 year, 7 months to save · Very reachable
82
/ 100
5
Quebec CityQC
$18,750 down · 1 year, 7 months to save · Very reachable
82
/ 100
6
HalifaxNS
$29,500 down · 2 years, 1 month to save · Reachable
66
/ 100
7
CalgaryAB
$33,500 down · 2 years, 2 months to save · Reachable
63
/ 100
8
MontrealQC
$31,000 down · 2 years, 2 months to save · Reachable
63
/ 100
9
OttawaON
$39,500 down · 2 years, 3 months to save · Reachable
61
/ 100
10
VancouverBC
$94,000 down · 5 years, 3 months to save · Very tough
0
/ 100
11
SurreyBC
$80,000 down · 5 years, 2 months to save · Very tough
0
/ 100
12
TorontoON
$81,000 down · 4 years, 3 months to save · Very tough
0
/ 100

Make the down payment a date, not a someday.

The Harmony Budget app turns your target into a plan with a real date, tracks your FHSA contribution room for you, and logs every month automatically. No spreadsheet, no bank login. Free on the App Store.

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Home prices are MLS® HPI benchmark figures from CREA and local real-estate boards (early 2025), quality-adjusted for a typical home and varying a lot by home type and neighbourhood. Down payments follow Canada’s federal minimum tiers; the time-to-save figure is plain cash savings at a modest local rate, no investment growth assumed. Not a personal quote, and figures shift over time. Last reviewed June 2026.