Enter your household income to see the rent it comfortably covers, and the home price a lender's guideline reaches — set against what Greater Sudbury actually costs.
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Housing is the tightest squeeze in Greater Sudbury right now — rents keep climbing against a near-empty rental market, and an average home has passed half a million dollars. Enter what your household earns before tax and this shows the rent you could comfortably cover, and — if you're thinking of buying — the home price a lender's guideline would reach, both set against what Sudbury actually costs. It's a planning estimate on your own numbers, not advice.
The total your household earns in a year, before deductions.
The average home here sells for about $507,476. That is about $218,995 above what this income reaches.Local estimates put the income needed to buy the average home near $112,500.
The monthly cost at that price
Mortgage payment
$1,360
Property tax
$439
Heating
$180
Total each month
$1,979
Banks must test you at 7% even though your payments would be at 5% — so this is what you could borrow, not the payment you'd make.
This is a rough planning estimate on the numbers you type, not financial advice and not an offer of a mortgage. The rent side is the common guideline that housing should take no more than about a third of income — a rule of thumb, not a limit anyone enforces. The buy side follows a lender's Gross Debt Service guideline and Canada's mortgage stress test, but it leaves out income tax, any other debts you carry, mortgage insurance if you put down less than 20%, and closing costs like the land transfer and legal fees. Your real numbers come from a mortgage broker or lender — use the calculators below.
Worth knowing
Finding a place is as hard as affording one
Sudbury's rental vacancy rate sits near 1.6% — among the tightest in Ontario — and rents have risen roughly 5–6% in a year. Even where the math works, there may be little to choose from, so it's worth starting the search early and lining up references.
The rents in the table are what's advertised now. CMHC's survey of every occupied unit runs lower, so a place you've held for years, or a spot in an older building, can cost noticeably less than a brand-new listing. Compare a specific unit, not just the average.
Why the buy number lands below the average home
The stress test makes a bank qualify you at about two points above your actual rate, so the price you can reach is often well under the roughly $507,000 an average Sudbury home sells for — which is exactly why the gap between renting and owning has widened here. A bigger down payment, a co-borrower's income, or a lower rate all move the number up.
Check it against the real thing
Work out an affordable mortgage and monthly payment with the official tools