Condos still more affordable than single-family homes in Quebec: study

Modern condo buildings with huge windows in Montreal, Canada.

Despite a surge in condo fees and sales prices in the last few years, condominiums remain an affordable option compared to entry-level single-family homes, according to a study released Wednesday by the Quebec Professional Association of Real Estate Brokers (APCIQ).

The study states that the adoption of Bill 16, which regulates the maintenance and management of condominiums, has forced many associations to significantly increase the monthly fees paid by co-owners to replenish a building’s reserve funds or impose special assessments.

According to the APCIQ’s analysis, median annual fees have doubled, rising from $1,716 in 2015 to $3,432 in 2025.

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Furthermore, strong demand has also driven significant price growth over the same period.

In several regions, the value per square foot of condominiums has more than doubled, the report notes.

The report’s authors say they asked the following question: “Does this category of properties, long favoured by first-time buyers, remain as attractive as ever before?”

Even when considering monthly costs that have risen in recent years, condos remain more affordable than entry-level single-family homes, says Camille Laberge, deputy director and senior economist at the APCIQ.

“For a first-time buyer looking to become a homeowner, it’s a perfectly logical and rational choice,” said Laberge, having conducted the study in collaboration with analyst Renaud Cuche.

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The APCIQ compared the median monthly mortgage payment for an “entry-level” single-family home to the total monthly cost of a condo, including fees and mortgage payments.

In many regions, entry-level homes were still more expensive, the association found.

In the Montreal metropolitan area, where 74 per cent of condo sales are concentrated, the total monthly cost for a condo is $2,310, compared to a $2,470 mortgage payment for a single-family home.

In the Quebec City metropolitan area, condos are nearly on par with single-family homes, at $1,765 versus $1,786, respectively.

In the Trois-Rivières and Saguenay regions, single-family homes have an advantage over condos, with a difference of less than $100.

Maintenance costs

The APCIQ notes that owners of single-family homes must budget for home maintenance, just as condo owners do with their monthly building maintenance fees.

The difference between the two is that this budget is not mandatory for single-family homes, points out Laberge.

“When a buyer looks at a single-family home, this cost is often underestimated, or people tell themselves, ‘I’ll figure it out when the time comes,’” she said.

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According to the Financial Consumer Agency of Canada, a homeowner should set aside between one and three per cent of a property’s value annually for repairs and maintenance, depending on the home’s age and condition, the APCIQ notes.

It adds that “single-family homes generally have a higher median age than condominiums.”

This requires “in principle, more frequent work and greater maintenance investments.”

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Contrarily, the significant rise in condo fees is largely due to inflation and new legislation.

However, according to the APCIQ, “this sharp increase in condo fees is proportional to price growth” between 2015 and 2025.

Rising sales

In terms of transactions, condominiums have gained ground over the past decade in most regions.

Across Quebec, condos accounted for 25 per cent of residential sales in 2025, compared to 20 per cent ten years ago.

After a boom in housing starts in the early 2000s, the condominium market continued to grow due to urban densification.

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The declining average household size and relative affordability have also contributed to the success of condominiums, said the APCIQ.

However, with the impacts of the pandemic and the trend toward remote work, enthusiasm for condos is “less pronounced,” though interest remains “still very strong for single-family homes,” notes Laberge.

“However, in the long term, we believe that condominiums will continue to gain popularity. This is the category of the future,” said the economist, adding that land zoning ensures that densification will be a priority for future residential construction.

This report by The Canadian Press was first published in French on March 25, 2026.