If you are looking for an affordable place to call home, you are already in the right spot. A new housing market outlook places Saint John as the fourth most affordable city in the entire country for homebuyers.

The report, released by RE/MAX Canada, analyzes housing affordability across the nation. While markets in Ontario and British Columbia continue to see high prices despite recent dips, Atlantic Canada remains a stronghold for value.

Saint John by the Numbers

The data highlights specifically why Saint John appeals to first-time buyers and investors. The report calculates affordability based on a 5% mortgage rate over a 25-year amortization period, compared against provincial average weekly earnings.

Here is the breakdown for Saint John:

• Average Home Price: $308,300
• Estimated Monthly Mortgage: $1,438
• Percentage of Income for Mortgage: 27.6%

Lenders typically recommend spending no more than 28% of your gross monthly income on housing costs. Saint John sits comfortably within this guideline, making homeownership a realistic goal for many residents compared to the national average.

New Brunswick Dominates the Top 10

You don’t have to look far to find other affordable options. New Brunswick performed exceptionally well in the national rankings, securing three of the top ten spots. This indicates a strong, accessible housing market across the province relative to the rest of Canada.

Fredericton landed at number seven, with an average home price of $345,100 and a monthly mortgage payment of approximately $1,610. Moncton followed closely at number nine, with an average price of $375,504 and a monthly payment of $1,752.

The only cities ranking higher than Saint John were Medicine Hat, Alberta; Brandon, Manitoba; and Sault Ste. Marie, Ontario.

Market Outlook: A Shift to Balance

Beyond the rankings, the outlook for the broader Canadian real estate market suggests a shift toward balance. The report predicts that about 18% of markets will favour sellers, while 15% will lean toward buyers. Increased inventory in many regions is helping to moderate prices.

While major centres like Toronto and Vancouver struggle with affordability despite price drops in the condo sector, markets in the Prairies and Atlantic Canada offer stability. For those willing to look outside Canada’s largest metropolises, the opportunity to own a home remains strong.

Frequently Asked Questions

What is the most affordable city in Canada according to this report?

Medicine Hat, Alberta took the top spot with an average home price of $247,000 and a monthly mortgage payment of roughly $1,152.

How did other New Brunswick cities rank?

Fredericton ranked 7th and Moncton ranked 9th, making New Brunswick the only province with three cities in the top 10 list.

What criteria determines affordability in this report?

The rankings use the average home price, a 20% down payment, a mortgage rate of 5% with a 25-year amortization, and compares the resulting monthly payment against the provincial average monthly income.

Is the housing market expected to get cheaper?

Conservative estimates in the report suggest homes may sell for about 3.5% less in the coming year compared to 2025, as inventory increases and the market shifts toward a balanced state.