Compare Hamilton, Ottawa, London, and Kitchener based on home prices, mortgage qualification requirements, and down payments.
Ontario's housing market in 2026 offers unique opportunities across different cities. With mortgage rule changes affecting qualification requirements, understanding where you can afford to buy is more important than ever.
We've analyzed home prices, required household income, and down payment requirements across four major Ontario cities to help you make an informed decision about where to buy your next home.
A side-by-side comparison of the four best cities in Ontario for home buyers in 2026
| City | Average Home Price | Required Annual Income | Down Payment (20%) | Monthly Payment* |
|---|---|---|---|---|
|
H
Hamilton
|
$620,000 | $95,000 | $124,000 | $2,480 |
|
O
Ottawa
|
$580,000 | $88,000 | $116,000 | $2,310 |
|
L
London
|
$540,000 | $82,000 | $108,000 | $2,150 |
|
K
Kitchener
|
$565,000 | $86,000 | $113,000 | $2,250 |
*Monthly payment calculated with 5.25% fixed rate, 25-year amortization, CMHC insurance included where applicable
The Steel City - Rising Star
Average Home Price
$620,000
Income Required
$95,000
annual household
Down Payment
$124,000
20% minimum
Hamilton has emerged as one of Ontario's most attractive markets for first-time buyers. The city's combination of affordable prices, growing tech sector, and proximity to Toronto makes it an ideal choice for those seeking value without sacrificing connectivity.
The Capital - Stable & Growing
Average Home Price
$580,000
Income Required
$88,000
annual household
Down Payment
$116,000
20% minimum
Ottawa offers the lowest average home price among major Ontario cities, combined with a stable job market driven by government employment and growing tech sector. The city's bilingual character and high quality of life make it attractive for families and professionals alike.
The Forest City - Affordable & Growing
Average Home Price
$540,000
Income Required
$82,000
annual household
Down Payment
$108,000
20% minimum
London offers the most affordable entry point among major Southwestern Ontario cities. With Western University and Fanshawe College driving education and research, plus a growing healthcare sector, London provides excellent value for budget-conscious buyers.
The Tech Hub - Innovation & Value
Average Home Price
$565,000
Income Required
$86,000
annual household
Down Payment
$113,000
20% minimum
Part of the thriving Waterloo Region, Kitchener offers a unique combination of tech industry growth, affordable housing, and access to two major universities (University of Waterloo and Wilfrid Laurier). The area has become a magnet for tech talent and entrepreneurs.
Whether you're looking at Hamilton, Ottawa, London, or Kitchener, we can help you understand your mortgage qualification and find the best rates for your situation.