{"id":12084,"date":"2024-02-22T12:27:40","date_gmt":"2024-02-22T17:27:40","guid":{"rendered":"https:\/\/homeinvestmenthub.com\/?p=12084"},"modified":"2024-02-22T12:27:41","modified_gmt":"2024-02-22T17:27:41","slug":"what-can-a-budget-of-1-million-buy-in-canadas-major-housing-markets-in-2024","status":"publish","type":"post","link":"https:\/\/homeinvestmenthub.com\/ur\/what-can-a-budget-of-1-million-buy-in-canadas-major-housing-markets-in-2024\/","title":{"rendered":"What can a budget of $1 million buy in Canada\u2019s major housing markets in 2024?"},"content":{"rendered":"

Check out how this price segment varies regionally from coast to coast<\/h2>\n\n\n\n
When examining real estate markets across Canada’s cities, regions, and provinces, the meaning of a $1 million home can vary significantly. As the country continues to grapple with a supply shortage and affordability challenges for buyers, the definition of a $1 million property varies widely across major markets.<\/summary>\n

<\/p>\n<\/details>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Key highlights from the 2024 Market Survey Forecast:<\/strong><\/p>\n\n\n\n

    \n
  • On average, a $1-million property in Canada has 3.2 bedrooms and 2.1 bathrooms, while a $2-million property has 3.7 bedrooms and 2.6 bathrooms<\/li>\n\n\n\n
  • Edmonton boasts highest average square footage of all regions in the report (2,675 sq. ft.), while Vancouver records lowest (900 sq. ft.) in the $1-million category<\/li>\n\n\n\n
  • Cities and greater regions of Toronto and Vancouver rank below national average in square footage for $1-million properties, while the Greater Montreal Area boasts an average home size of 466 square feet larger than the national average<\/li>\n\n\n\n
  • Winnipeg and Halifax record largest average home size in $2-million category at almost 4,000 square feet<\/li>\n\n\n\n
  • Two thirds of Canadians overall (64%) believe that $1 million is a reasonable budget to afford a home that meets their household\u2019s needs; that figure is significantly lower in Ontario (53%) and British Columbia (42%)<\/li>\n<\/ul>","protected":false},"excerpt":{"rendered":"

    Check out how this price segment varies regionally from coast to coast Key highlights from the 2024 Market Survey Forecast:<\/p>","protected":false},"author":1,"featured_media":12086,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"content-type":"","ocean_post_layout":"","ocean_both_sidebars_style":"","ocean_both_sidebars_content_width":0,"ocean_both_sidebars_sidebars_width":0,"ocean_sidebar":"","ocean_second_sidebar":"","ocean_disable_margins":"enable","ocean_add_body_class":"","ocean_shortcode_before_top_bar":"","ocean_shortcode_after_top_bar":"","ocean_shortcode_before_header":"","ocean_shortcode_after_header":"","ocean_has_shortcode":"","ocean_shortcode_after_title":"","ocean_shortcode_before_footer_widgets":"","ocean_shortcode_after_footer_widgets":"","ocean_shortcode_before_footer_bottom":"","ocean_shortcode_after_footer_bottom":"","ocean_display_top_bar":"default","ocean_display_header":"default","ocean_header_style":"","ocean_center_header_left_menu":"","ocean_custom_header_template":"","ocean_custom_logo":0,"ocean_custom_retina_logo":0,"ocean_custom_logo_max_width":0,"ocean_custom_logo_tablet_max_width":0,"ocean_custom_logo_mobile_max_width":0,"ocean_custom_logo_max_height":0,"ocean_custom_logo_tablet_max_height":0,"ocean_custom_logo_mobile_max_height":0,"ocean_header_custom_menu":"","ocean_menu_typo_font_family":"","ocean_menu_typo_font_subset":"","ocean_menu_typo_font_size":0,"ocean_menu_typo_font_size_tablet":0,"ocean_menu_typo_font_size_mobile":0,"ocean_menu_typo_font_size_unit":"px","ocean_menu_typo_font_weight":"","ocean_menu_typo_font_weight_tablet":"","ocean_menu_typo_font_weight_mobile":"","ocean_menu_typo_transform":"","ocean_menu_typo_transform_tablet":"","ocean_menu_typo_transform_mobile":"","ocean_menu_typo_line_height":0,"ocean_menu_typo_line_height_tablet":0,"ocean_menu_typo_line_height_mobile":0,"ocean_menu_typo_line_height_unit":"","ocean_menu_typo_spacing":0,"ocean_menu_typo_spacing_tablet":0,"ocean_menu_typo_spacing_mobile":0,"ocean_menu_typo_spacing_unit":"","ocean_menu_link_color":"","ocean_menu_link_color_hover":"","ocean_menu_link_color_active":"","ocean_menu_link_background":"","ocean_menu_link_hover_background":"","ocean_menu_link_active_background":"","ocean_menu_social_links_bg":"","ocean_menu_social_hover_links_bg":"","ocean_menu_social_links_color":"","ocean_menu_social_hover_links_color":"","ocean_disable_title":"default","ocean_disable_heading":"default","ocean_post_title":"","ocean_post_subheading":"","ocean_post_title_style":"","ocean_post_title_background_color":"","ocean_post_title_background":0,"ocean_post_title_bg_image_position":"","ocean_post_title_bg_image_attachment":"","ocean_post_title_bg_image_repeat":"","ocean_post_title_bg_image_size":"","ocean_post_title_height":0,"ocean_post_title_bg_overlay":0.5,"ocean_post_title_bg_overlay_color":"","ocean_disable_breadcrumbs":"default","ocean_breadcrumbs_color":"","ocean_breadcrumbs_separator_color":"","ocean_breadcrumbs_links_color":"","ocean_breadcrumbs_links_hover_color":"","ocean_display_footer_widgets":"default","ocean_display_footer_bottom":"default","ocean_custom_footer_template":"","ocean_post_oembed":"","ocean_post_self_hosted_media":"","ocean_post_video_embed":"","ocean_link_format":"","ocean_link_format_target":"self","ocean_quote_format":"","ocean_quote_format_link":"post","ocean_gallery_link_images":"on","ocean_gallery_id":[],"footnotes":""},"categories":[44],"tags":[46,48,45,47],"class_list":["post-12084","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-million-dollars-properties-report","tag-marketupdate","tag-marketupdate2024","tag-million-dollars-properties","tag-royal-lepage-market-report","entry","has-media"],"_links":{"self":[{"href":"https:\/\/homeinvestmenthub.com\/ur\/wp-json\/wp\/v2\/posts\/12084","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/homeinvestmenthub.com\/ur\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/homeinvestmenthub.com\/ur\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/homeinvestmenthub.com\/ur\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/homeinvestmenthub.com\/ur\/wp-json\/wp\/v2\/comments?post=12084"}],"version-history":[{"count":1,"href":"https:\/\/homeinvestmenthub.com\/ur\/wp-json\/wp\/v2\/posts\/12084\/revisions"}],"predecessor-version":[{"id":12087,"href":"https:\/\/homeinvestmenthub.com\/ur\/wp-json\/wp\/v2\/posts\/12084\/revisions\/12087"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/homeinvestmenthub.com\/ur\/wp-json\/wp\/v2\/media\/12086"}],"wp:attachment":[{"href":"https:\/\/homeinvestmenthub.com\/ur\/wp-json\/wp\/v2\/media?parent=12084"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/homeinvestmenthub.com\/ur\/wp-json\/wp\/v2\/categories?post=12084"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/homeinvestmenthub.com\/ur\/wp-json\/wp\/v2\/tags?post=12084"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":tru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