Trends in Immigrant Homeownership Across Canada
Newcomer homeownership in Canada is on the rise. Generally, more newcomers bought homes in 2022 than in 2021, and there was growth between 2020 and 2021 too. This trend shows that immigrants aren’t just settling—they’re investing, growing their wealth, and establishing a solid foundation for their families. From affordable options to high-value markets, there’s a wide range of opportunities across the country.
Ontario newcomers are leading the charge with nearly 2 million immigrant homeowners in 2022 (the most recent data available). The province has seen a steady increase in the number of newcomers owning homes, growing to 34.2% in 2022. While home prices are higher in Ontario than in some other provinces (particularly in Toronto and the GTA), the investment often pays off, thanks to Ontario’s strong economy and growing real estate market.
British Columbia’s stunning landscapes and dynamic urban centers like Vancouver make it a popular choice, despite the hefty price tags. Property prices here are some of the highest in Canada, and the average newcomer who owns a home in BC has a household income of $100,000.
Alberta is another region experiencing increased interest from immigrant homeowners. Known for its affordable housing market compared to other major provinces, Alberta has become a favorable destination for immigrants looking to invest in property. The median property value for immigrant homeowners is $410,000, offering an attractive option for those seeking to balance affordability with the opportunity for growth. Alberta’s strong economy, driven by industries like oil and gas, also plays a crucial role in attracting immigrant homebuyers.
Provinces With Highest Home Ownership Costs For Newcomers
Provinces With Lowest Home Ownership Costs For Newcomers
- Nunavut
- New Brunswick
- Newfoundland and Labrador
Average Earnings Of Newcomers Who Are Buying Homes
- Nunavut: $250,000
- Yellowknife, Census Agglomeration (CA): $180,000
- St. John’s, Newfoundland and Labrador: $125,000
- Ontario: $110,000
- British Columbia (BC): $105,000
- Nova Scotia: $105,000
- Manitoba: $100,000
- New Brunswick: $95,000.
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