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Top 10 most expensive housing markets in Canada

  • <b>Victoria, B.C.<br><br></b>Median income: $66,000<br>Median household price: $445,000<br>Median multiple 6.7<br><br>Photo: Wiki Commons
    1/9

    Victoria, B.C.

    Victoria, B.C.

    Median income: $66,000
    Median household price: $445,000
    Median multiple 6.7

    Photo: Wiki Commons
  • <b>Toronto<br><br></b>Median income: $73,900<br>Median household cost: $482,900<br>Median multiple: 6.5<br><br>(REUTERS/Mark Blinch)
    2/9

    The moon turns orange during a total lunar eclipse behind the CN Tower and the skyline during moonset in Toronto

    Toronto

    Median income: $73,900
    Median household cost: $482,900
    Median multiple: 6.5

    (REUTERS/Mark Blinch)
    REUTERS
  • <b>Kelowna,</b> <b>B.C.</b><br><br>Median income: $64,300<br>Median household cost: $409,900<br>Median multiple: 6.4<br><br>Photo: Thinkstock
    3/9

    Kelowna, B.C.

    Kelowna, B.C.

    Median income: $64,300
    Median household cost: $409,900
    Median multiple: 6.4

    Photo: Thinkstock
  • <b>Fraser Valley, B.C.</b><br><br>Median income: $73,200<br>Median household cost: $446,900<br>Median multiple: 6.1<br><br>Photo: Wiki Commons
    4/9

    Fraser Valley, B.C.

    Fraser Valley, B.C.

    Median income: $73,200
    Median household cost: $446,900
    Median multiple: 6.1

    Photo: Wiki Commons
  • <b>Hamilton</b><br><br>Median income: $69,200<br>Median household cost: $344,200 <br>Median multiple: 5.0<br><br>Photo: Wiki Commons
    5/9

    Hamilton skyline

    Hamilton

    Median income: $69,200
    Median household cost: $344,200
    Median multiple: 5.0

    Photo: Wiki Commons
    Wikimedia Commons
  • <b>Montreal<br><br></b>Median income: $56,400<br>Median household cost: $239,900<br>Median multiple: 4.3
    6/9

    Montreal skyline

    Montreal

    Median income: $56,400
    Median household cost: $239,900
    Median multiple: 4.3
    Wikimedia Commons
  • <b>Peterborough, Ont.<br></b><br>Median income: $61,300<br>Median household cost: $257,000<br>Median multiple: 4.2<br><br>Photo: Wiki Commons
    7/9

    Peterborough skyline

    Peterborough, Ont.

    Median income: $61,300
    Median household cost: $257,000
    Median multiple: 4.2

    Photo: Wiki Commons
  • <b>Kitchener, Ont.<br></b><br>Median income: $72,400<br>Median household cost: $302,800<br>Median multiple: 4.2<br><br>Photo: Wiki Commons
    8/9

    Kitchener, Ont.

    Kitchener, Ont.

    Median income: $72,400
    Median household cost: $302,800
    Median multiple: 4.2

    Photo: Wiki Commons
  • <b>Calgary</b><br><br>Median income: $94,700<br>Median household value: $394,400<br>Median multiple: 4.2<br><br>Photo: The Canadian Press Images/Larry MacDougal
    9/9

    Downtown Calgary

    Calgary

    Median income: $94,700
    Median household value: $394,400
    Median multiple: 4.2

    Photo: The Canadian Press Images/Larry MacDougal
    The Canadian Press Images/Larry MacDougal
<b>Victoria, B.C.<br><br></b>Median income: $66,000<br>Median household price: $445,000<br>Median multiple 6.7<br><br>Photo: Wiki Commons
<b>Toronto<br><br></b>Median income: $73,900<br>Median household cost: $482,900<br>Median multiple: 6.5<br><br>(REUTERS/Mark Blinch)
<b>Kelowna,</b> <b>B.C.</b><br><br>Median income: $64,300<br>Median household cost: $409,900<br>Median multiple: 6.4<br><br>Photo: Thinkstock
<b>Fraser Valley, B.C.</b><br><br>Median income: $73,200<br>Median household cost: $446,900<br>Median multiple: 6.1<br><br>Photo: Wiki Commons
<b>Hamilton</b><br><br>Median income: $69,200<br>Median household cost: $344,200 <br>Median multiple: 5.0<br><br>Photo: Wiki Commons
<b>Montreal<br><br></b>Median income: $56,400<br>Median household cost: $239,900<br>Median multiple: 4.3
<b>Peterborough, Ont.<br></b><br>Median income: $61,300<br>Median household cost: $257,000<br>Median multiple: 4.2<br><br>Photo: Wiki Commons
<b>Kitchener, Ont.<br></b><br>Median income: $72,400<br>Median household cost: $302,800<br>Median multiple: 4.2<br><br>Photo: Wiki Commons
<b>Calgary</b><br><br>Median income: $94,700<br>Median household value: $394,400<br>Median multiple: 4.2<br><br>Photo: The Canadian Press Images/Larry MacDougal
Yahoo News Canada

The 11th Demographia International Housing Affordability Survey was released on Jan. 20 and detailed the most and least expensive housing markets across the world. The survey ranks the cities by median multiple, a number that compares median family incomes in the city to median housing prices. A city with a median multiple of five, for example, would mean that consumers would have to pay five times the median family income to purchase a house there.

Here are the top 10 most expensive housing markets in Canada: