Moncton “most affordable” for housing in Canada
Moncton, New Brunswick has the most affordable housing in Canada according to an international affordable housing index released by the Atlantic Institute of Market Studies.
The study found that the top three most affordable cities for housing in Canada are in New Brunswick, and Charlottetown ranked fifth.
The findings are traced to the 13th Annual Demographia International Housing Affordability Survey that determines housing affordability by dividing median house prices by median income. It considers any result less than three as affordable housing, and any result over five as severely unaffordable.
Moncton had the most affordable housing in Canada, with an index of 2.1, followed by Fredericton at 2.2 and Saint John, at 2.6. Halifax was the least affordable city in the Atlantic region, at 5.6 on the index.