If you’re wondering how much money your household would have to earn each year to buy a 15-hundred square foot home on Manitoulin Island — Hello Safe Canada has the answer.
A new survey shows the average price per square foot for a house in Toronto, $1,400, is seven times higher than in Timmins at $203.
Manitoulin Island with its many waterfront properties and perception as a vacation getaway, sits at $651, which means the household would have to be making just over $237,000 to afford a buy a home.
Both Sault Ste. Marie and Sudbury are also on the lower end of the scale.
The Soo is the second lowest at nearly $98,000 and the only other Ontario community under $100,000 on the list while Sudbury was the 15th lowest at nearly $169,000.
Over 50 Ontario cities were included in the study, with Toronto the highest at nearly 592-thousand dollars and Timmins, the lowest, at just under 65 thousand.
