Here's How Much You Need to Earn to Live in Laval, Quebec
Are you considering buying a house in Laval, Quebec? Just north of Montreal, Laval is often considered a suburb of Quebec’s biggest city. The good news is that compared with other cities in Canada, the cost of living in Laval is surprisingly affordable.
To help you understand what’s involved when it comes to budgeting for your future home purchase, we’re taking an in-depth look at how much money people typically earn and spend on housing here. Discover valuable insights into just how realistic homeownership can be in Laval.
- Laval is among the cities in Quebec with the most affordable housing.
- Just north of Montreal, Laval is the perfect combination of suburban, family-friendly environment and the benefits of city life.
- Job opportunities are abundant in Laval, as more and more companies and industries move into the area.
Living in Laval: What to Expect
If you’re considering living in Laval, Quebec, there are a few things you can expect.
First and foremost, Laval is a great combination of a family-friendly atmosphere and the benefits of city living. With a variety of companies and industries settling in, there are also plenty of job opportunities and a variety of neighborhoods to choose from.
Laval is located just north of Montreal, so you’ll also have easy access to all the amenities and attractions of a bigger metropolitan city. When it comes to transportation, Laval offers an extensive bus system and easy access to major highways.
Additionally, you can expect to be surrounded by beautiful parks, and the Rivière des Prairies. Whether you’re looking for a family-friendly community, a lively nightlife, or a peaceful suburban setting, Laval has options.
Pros and Cons of Living in Laval
Pros of buying a house in Laval
Affordable housing is the biggest pro of living in Laval. In comparison to Montreal and other cities in Canada, your money will definitely go further in Laval.
Family friendly neighborhoods are abundant all over Laval. While the city does have a downtown core, most of Laval is made of various different suburban areas, ranging from beautiful, newly built detached homes to brand new condos overlooking the river. Laval also boasts accessible education, both in terms of number of schools and affordability.
Job opportunities are abundant in Laval, as more and more companies and industries move into the area. Not to mention, many Laval residents commute to Montreal for their jobs.
Cons of buying a house in Laval
Undesirable weather. Much like most places in Quebec, Laval winters are long and harsh. The temperature averages -10 degrees celsius in January and February, with lows of -30 degrees– not to mention an average annual snowfall of 209 cm. You definitely need to be prepared to protect yourself and your home from cold weather and heavy snowfall in the winter season.
The traffic in Laval can be frustrating. If you plan on commuting in and out of Montreal for work every day, rush hour can get rough.
How Much Income Do You Need to Afford a Home in Laval, Quebec?
While housing is on the affordable side in Laval, it is still one of the 5 cities in the province where the income needed to buy an average home reaches 6-figures.
Median housing price in Laval:
– Detached home: $709,834
– Condo: $448,816
Average living expenses in Laval: $3,039/month (for a single homeowner)
Yearly income needed to buy a home: $140,987 (for a 1000 square-foot home)
Average salary in Laval: $51,120
For reference, here is the breakdown of the factors determining the income needed to purchase a $700,000 home with a 20% down payment on an uninsured 5-year fixed rate.
Laval Affordability vs Canada National Average
The table below compares housing affordability in Laval to the Canadian national average.
|Average home price||$709,834||$662,437|
|Cost of living (monthly cost)||$3,039||$3,353|
|Income needed to purchase a home||$140,987||$135,000|
Find a better rate, and we’ll match it, beat it, or give you $500*.
With nesto, it’s stress-free
Frequently Asked Questions
Welcome to our Frequently-Asked Questions (FAQ) section, where we answer the most popular questions designed and crafted by our in-house mortgage experts to help you make informed mortgage financing decisions.
How much does the average home cost in Laval, Quebec?
The average cost of a detached home in Laval is $709,834 and the average cost of a condo is $448,816.
Is Laval a safe city to live in?
Yes, Laval is a safe place to live with a relatively lower crime rate compared to other cities in Canada.
How cold are the winters in Laval, Quebec?
Much like most places in Quebec, Laval winters are long and harsh. The temperature averages -10 degrees celsius in January and February, with lows of -30 degrees– not to mention an average snowfall of 209 cm. This means that you will have to be ready to protect yourself and your home from cold weather and heavy snowfall in the winter season.
Reasons to Live in Laval, Quebec
All in all, Laval is an incredible city that offers a lot of economic advantages. Prices for housing are relatively low and job opportunities plentiful. Those thinking of buying a home in Laval should rest assured knowing that living there can be quite affordable—especially compared to other cities in Canada. Lower home prices paired with a family-friendly suburban lifestyle make Laval a great option for young families and first-time home buyers.
Ready to get started?
In just a few clicks, you can see our current rates. Then apply for your mortgage online in minutes!