Average Income Puts Many Barrie Homes Within Reach
Real Estate Site Zoocasta Tallies How Much Income Is Needed In Various Barrie Neighbourhoods
An average household income is just enough for a home in some of Barrie’s neighbourhoods, but not all.
The real estate site Zoocasta has taken a look at what you’d need to save to buy a home in Barrie, saying three neighbourhoods within the city stand out for affordability. City Centre, Lakeshore, and Ardagh, where median home prices remain below $450,000. A median-income household would qualify for a large enough mortgage to purchase a home and save for the required downpayment within a six-year timeline.
If you’d rather buy in Sunnidale, Holly, or Allandale, you’d have to save your median income for around seven and a half years before affording that downpayment.
In Innishore, Barrie’s priciest neighbourhood as rated by Zoocasta, the median home price is $602,500; the average money-maker would have to save for 17.8 years to afford the necessary downpayment.