If you wish to purchase a house in Canada and take a mortgage for it, banks will need to calculate the proportion between your household income and the monthly payment for the mortgage (GDS).

On top of it they will look at the proportion between this income and the overall monthly commitment you carry, including student loans, credit cards payments, car lease payments, line of credits and more.

These ratios are regulated by the government to keep the mortgage market safe.
Because the flexibility with these ratios is minimal, the most important factor to look at is the household income.

Looking at the map below one can easily notice that an annual income of $80,000may buy you a house in some parts of Canada but definitely not in West Side Vancouver, where you’ll need more than $300,000 a year to have a house. scroll down the map and explore Canada.