Two New Brunswick communities have made the list of the most affordable cities in Canada.
Saint John is number two on the list from Royal LePage, while Fredericton came in at number 11.
The report looks at the percentage of income required to service a monthly mortgage payment.
In Saint John, 25.1 per cent of a household’s monthly income is needed to service a mortgage payment.
The aggregate price of a home in the first quarter of 2024 was $267,900, according to the report.
That led to a monthly mortgage payment of $1,400, based on a three-year fixed term of 5.71 per cent over 25 years.
Meanwhile, in Fredericton, 32 per cent of a household’s monthly income was needed for a mortgage payment.
The aggregate price of a home in the first quarter was $342,200, with a monthly mortgage payment of $1,786.
The report also used the 2022 provincial median total household income, which was $67,000.
St. John’s, Nfld., and Charlottetown, P.E.I., were the other two Atlantic Canadian cities on the list.
The northwestern Ontario community of Thunder Bay topped the list, with an affordability factor of 22 per cent.
