What houses cost per square foot in St. Catharines and Welland

A study on how much income a homeowner needs to buy a 1,500-square-foot home in various municipalities in Ontario, including St. Catharines and Welland, is enlightening for a few reasons, not the least of which is that it breaks down the actual cost per square foot for potential buyers.

Not too surprisingly, St. Catharines and Welland are far down the list, compared to pricier markets like Toronto, Halton Hills, and Aurora.

In those three markets, a potential homeowner would need an income of over half a million dollars to buy a 1,500-square-foot house. In Toronto, it would cost $591,828, followed by Halton Hills at $570,154 and Aurora at $519,838, according to the study from hellosafe.ca.

Meanwhile, wannabe homeowners would need to make $195,893 annually in St. Catharines, while in Welland, it would be about $178,535.

As for the price per square foot, Toronto once again tops the list at $1,400 per square foot, followed by Halton Hills at $1,370 and Aurora at $1,259.

Well down the list was St. Catharines at $566 per square foot and Welland at $522.

The cheapest place in Ontario to settle into a 1,500-square-foot home? That would be Timmins where the homeowner’s annual income would need to be just $64,896. The house itself – that’s a low, low $203 per square foot.

If you’d like to compare Ontario municipalities in the study, check HERE.