{"id":27662,"date":"2024-02-26T06:00:00","date_gmt":"2024-02-26T11:00:00","guid":{"rendered":"https:\/\/www.zoocasa.com\/blog\/?p=27662"},"modified":"2024-03-12T10:38:32","modified_gmt":"2024-03-12T14:38:32","slug":"cost-of-living-vs-home-prices-feb-2024","status":"publish","type":"post","link":"https:\/\/www.zoocasa.com\/blog\/cost-of-living-vs-home-prices-feb-2024\/","title":{"rendered":"Cost of Living Climbs: Here&#8217;s How Home Prices Stack Up to Living Costs"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Over the past few years, affordability has been noticeably on the decline. Everything from grocery bills to <a href=\"https:\/\/www.zoocasa.com\/blog\/rent-vs-mortgage-costs-jan-2024\/\" target=\"_blank\" rel=\"noreferrer noopener\">rent and mortgage payments<\/a> has seen a hike, meaning families need to earn more to be able to keep up with basic living costs. While housing remains one of the most expensive essential living costs, the prices of other goods and services have also experienced significant increases. So how has this impacted the real estate market?&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong><em>Enjoying our content? Subscribe to our free <\/em><\/strong><a href=\"http:\/\/zoocasa.com\/newsletter\" target=\"_blank\" rel=\"noreferrer noopener\"><strong><em>weekly newsletter<\/em><\/strong><\/a><strong><em> to get real estate market insights, news, and reports straight to your inbox.<\/em><\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">To see how the cost of living has risen in comparison to real estate prices, Zoocasa analyzed market basket measure (MBM) and benchmark home price data for 15 cities across Canada and compared these to their values five years ago. Market Basket Measure data was sourced from <a href=\"https:\/\/www150.statcan.gc.ca\/t1\/tbl1\/en\/tv.action?pid=1110006601\" target=\"_blank\" rel=\"noreferrer noopener\">Statistics Canada<\/a> and uses the most recently available data from 2022. Benchmark home prices were sourced from the Canadian Real Estate Association (CREA) and are from January 2024.&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"600\" height=\"1271\" src=\"https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2024\/02\/Frame-301-2.png\" alt=\"\" class=\"wp-image-27664\" srcset=\"https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2024\/02\/Frame-301-2.png 600w, https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2024\/02\/Frame-301-2-142x300.png 142w, https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2024\/02\/Frame-301-2-483x1024.png 483w, https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2024\/02\/Frame-301-2-768x1627.png 768w, https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2024\/02\/Frame-301-2-725x1536.png 725w, https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2024\/02\/Frame-301-2-966x2048.png 966w\" sizes=\"auto, (max-width: 600px) 100vw, 600px\" \/><\/figure>\n\n\n\n<h1 class=\"wp-block-heading\">Home Prices Rising Faster Than the Cost of Living in 13 Cities<\/h1>\n\n\n\n<p class=\"wp-block-paragraph\">Though the cost of living is undoubtedly going up, in the majority of cities we analyzed it still lags behind home price surges. In 13 out of 15 cities, home price increases outpaced increases to the market basket measure. A city\u2019s market basket measure (MBM) defines the amount a family of four would need to have in disposable income to enjoy a basic standard of living. In other words, a family earning below a city\u2019s market basket measure is considered to be living below the poverty line. <a href=\"https:\/\/www.zoocasa.com\/calgary-ab-real-estate\" target=\"_blank\" rel=\"noreferrer noopener\">Calgary<\/a> has the highest MBM at $55,771, while Quebec CMA has the lowest at $45,411.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In five years, the MBM in <a href=\"https:\/\/www.zoocasa.com\/moncton-nb-real-estate\" target=\"_blank\" rel=\"noreferrer noopener\">Moncton<\/a> increased by 18.4%, but home prices increased by just over 100% from 2019 to 2024. Similarly in <a href=\"https:\/\/www.zoocasa.com\/halifax-ns-real-estate\" target=\"_blank\" rel=\"noreferrer noopener\">Halifax<\/a>, the MBM increased by 18.5% in five years while the benchmark home price increased by 82.4%.&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Read: <\/strong><a href=\"https:\/\/www.zoocasa.com\/blog\/crea-jan-2024\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>2024 Real Estate Market Building Momentum with National Home Sale Gains: CREA<\/strong><\/a><\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cWith home prices rising at a rate much faster than the cost of living, many Canadians are finding it increasingly difficult to find affordable housing options,\u201d says Carrie Lysenko, Chief Executive Officer of Zoocasa. \u201cWe need to see a shift in Canadian property options in order to help bridge the gap between income levels and housing costs.\u201d&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Besides Moncton and Halifax, the only other cities where the MBM went up by more than 18% over five years were Winnipeg and <a href=\"https:\/\/www.zoocasa.com\/saint-john-nb-real-estate\" target=\"_blank\" rel=\"noreferrer noopener\">Saint John<\/a>, where the MBM increased by 18.7% and 18.5% respectively. However, both cities have MBMs far lower than in Toronto and Vancouver, and with benchmark home prices below $340,000, Winnipeg and Saint John remain relatively affordable.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/www.zoocasa.com\/vancouver-bc-real-estate\" target=\"_blank\" rel=\"noreferrer noopener\">Vancouver<\/a> and <a href=\"https:\/\/www.zoocasa.com\/toronto-on-real-estate\" target=\"_blank\" rel=\"noreferrer noopener\">Toronto<\/a> have the second and third-highest MBMs, but benchmark home prices in each city did not increase as significantly as smaller cities. In Vancouver, the benchmark home price increased by 25.9% from 2019 to 2024, while the MBM increased by 17.3% to $55,727. In Toronto, the MBM increased by 17.6% to $55,262 and the benchmark home price increased by 42.8% to $1,065,800. \u201cModest home price increases in Toronto and Vancouver do not necessarily translate to improved affordability given the already high baseline costs,\u201d explained Lysenko.&nbsp;<\/p>\n\n\n\n<h1 class=\"wp-block-heading\">Smaller Markets Remain Canada\u2019s Most Affordable Cities for Homebuying<\/h1>\n\n\n\n<p class=\"wp-block-paragraph\">St. John\u2019s had the least amount of change to its cost of living with the MBM increasing by only 15.2% over five years. Home price growth in St. John\u2019s also remained relatively stable, increasing by just 25.1% from 2019 to 2024. This suggests that those living in St. John\u2019s haven\u2019t been as impacted by declining affordability and may have an easier time affording basic goods and services.&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Read: <\/strong><a href=\"https:\/\/www.zoocasa.com\/blog\/single-family-home-price-change-2013-vs-2023\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Here\u2019s How Much the Cost of a Single-Family Home in Canada Has Changed Over the Past 10 Years<\/strong><\/a><\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/www.zoocasa.com\/regina-sk-real-estate\" target=\"_blank\" rel=\"noreferrer noopener\">Regina<\/a> and <a href=\"https:\/\/www.zoocasa.com\/saskatoon-sk-real-estate\" target=\"_blank\" rel=\"noreferrer noopener\">Saskatoon<\/a> both experienced a 16.1% change in the MBM from 2017 to 2022, while their benchmark home prices did not drastically change. Regina experienced the smallest change in the benchmark home price from 2019 to 2024, increasing by only 8.7% to $301,900. Even though the cost of living in Regina increased, the city\u2019s housing market was able to maintain relatively stable home prices over the span of five years.&nbsp;&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/www.zoocasa.com\/edmonton-ab-real-estate\" target=\"_blank\" rel=\"noreferrer noopener\">Edmonton<\/a> is the only other city besides Regina where the benchmark home price increased at a slower rate than the MBM. Edmonton\u2019s MBM is $55,225, the fourth-highest in Canada, while the benchmark home price in January 2024 is $370,100. The cost of living is increasing in Edmonton, with the MBM rising by 18% from 2017 to 2022, however, home prices haven\u2019t been pushed up as much. The benchmark price increased by just 9.1% from 2019 to 2024.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cEven in cities where the cost of living is on the rise, the relatively stable home prices present a unique opportunity for homebuyers to enter the market. This underscores the importance of exploring options beyond the primary metropolitan areas or single-family detached homes for those seeking affordability in today\u2019s market,\u201d added Lysenko.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Want to discuss your options? <a href=\"https:\/\/www.zoocasa.com\/buy-with-zoocasa\" target=\"_blank\" rel=\"noreferrer noopener\">Give us a call today<\/a> to learn what properties are available in your city and budget.&nbsp;<\/p>\n\n\n<div class=\"cta\">\n<div class=\"cta-left\">\n<div class=\"cta-title\">Considering getting into the market this spring?<\/div>\n<div class=\"cta-body\">Sign up for a free Consultation<\/div>\n<\/div>\n<div class=\"cta-right\"><a href=\"https:\/\/www.zoocasa.com\/buy-with-zoocasa\"><button class=\"cta-button\">Talk To Our Experts<\/button><\/a><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Over the past few years, affordability has been noticeably on the decline. Everything from grocery bills to rent and mortgage payments has seen a hike, meaning families need to earn more to be able to keep up with basic living costs. While housing remains one of the most expensive essential living costs, the prices of [&hellip;]<\/p>\n","protected":false},"author":132,"featured_media":27666,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":{"subtitle":"","format":"standard","video":"","gallery":"","source_name":"","source_url":"","via_name":"","via_url":"","override_template":"0","override":[{"template":"1","single_blog_custom":"","parallax":"1","fullscreen":"1","layout":"right-sidebar","sidebar":"default-sidebar","second_sidebar":"default-sidebar","sticky_sidebar":"1","share_position":"top","share_float_style":"share-monocrhome","show_share_counter":"0","show_view_counter":"0","show_featured":"1","show_post_meta":"1","show_post_author":"1","show_post_author_image":"1","show_post_date":"1","post_date_format":"default","post_date_format_custom":"Y\/m\/d","show_post_category":"1","show_post_reading_time":"1","post_reading_time_wpm":"300","show_zoom_button":"0","zoom_button_out_step":"2","zoom_button_in_step":"3","show_post_tag":"0","show_prev_next_post":"1","show_popup_post":"0","number_popup_post":"1","show_author_box":"1","show_post_related":"1","show_inline_post_related":"0"}],"override_image_size":"0","image_override":[{"single_post_thumbnail_size":"crop-500","single_post_gallery_size":"crop-500"}],"trending_post":"0","trending_post_position":"meta","trending_post_label":"Trending","sponsored_post":"0","sponsored_post_label":"Sponsored by","sponsored_post_name":"","sponsored_post_url":"","sponsored_post_logo_enable":"0","sponsored_post_logo":"","sponsored_post_desc":"","disable_ad":"0"},"jnews_primary_category":{"id":"","hide":""},"footnotes":""},"categories":[1114,1111,1107,1160],"tags":[],"class_list":["post-27662","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-affordability-reports","category-canada","category-infographics","category-market-insights"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Cost of Living Climbs: Here&#039;s How Home Prices Stack Up to Living Costs | Zoocasa Blog<\/title>\n<meta name=\"description\" content=\"Over the past few years, affordability has been noticeably on the decline. Everything from grocery bills to rent and mortgage payments has seen a hike, Explore how home prices compare to the rising cost of living across Canada, as we delve into market trends, affordability challenges, and opportunities for prospective homebuyers.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zoocasa.com\/blog\/cost-of-living-vs-home-prices-feb-2024\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Cost of Living Climbs: Here&#039;s How Home Prices Stack Up to Living Costs | Zoocasa Blog\" \/>\n<meta property=\"og:description\" content=\"Over the past few years, affordability has been noticeably on the decline. Everything from grocery bills to rent and mortgage payments has seen a hike, Explore how home prices compare to the rising cost of living across Canada, as we delve into market trends, affordability challenges, and opportunities for prospective homebuyers.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zoocasa.com\/blog\/cost-of-living-vs-home-prices-feb-2024\/\" \/>\n<meta property=\"og:site_name\" content=\"Zoocasa Blog\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Zoocasa\" \/>\n<meta property=\"article:published_time\" content=\"2024-02-26T11:00:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-03-12T14:38:32+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2024\/02\/Blog-x-Social-Images-2-5-1.png\" \/>\n\t<meta property=\"og:image:width\" content=\"600\" \/>\n\t<meta property=\"og:image:height\" content=\"338\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Mackenzie Scibetta\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2024\/02\/Blog-x-Social-Images-2-5-1.png\" \/>\n<meta name=\"twitter:creator\" content=\"@Zoocasa\" \/>\n<meta name=\"twitter:site\" content=\"@Zoocasa\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Mackenzie Scibetta\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.zoocasa.com\/blog\/cost-of-living-vs-home-prices-feb-2024\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.zoocasa.com\/blog\/cost-of-living-vs-home-prices-feb-2024\/\"},\"author\":{\"name\":\"Mackenzie Scibetta\",\"@id\":\"https:\/\/www.zoocasa.com\/blog\/#\/schema\/person\/f94c43a0733031723a673cfb21916c34\"},\"headline\":\"Cost of Living Climbs: Here&#8217;s How Home Prices Stack Up to Living Costs\",\"datePublished\":\"2024-02-26T11:00:00+00:00\",\"dateModified\":\"2024-03-12T14:38:32+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.zoocasa.com\/blog\/cost-of-living-vs-home-prices-feb-2024\/\"},\"wordCount\":864,\"publisher\":{\"@id\":\"https:\/\/www.zoocasa.com\/blog\/#organization\"},\"articleSection\":[\"Affordability Reports\",\"Canada\",\"Infographics\",\"Market Insights\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.zoocasa.com\/blog\/cost-of-living-vs-home-prices-feb-2024\/\",\"url\":\"https:\/\/www.zoocasa.com\/blog\/cost-of-living-vs-home-prices-feb-2024\/\",\"name\":\"Cost of Living Climbs: Here's How Home Prices Stack Up to Living Costs | Zoocasa Blog\",\"isPartOf\":{\"@id\":\"https:\/\/www.zoocasa.com\/blog\/#website\"},\"datePublished\":\"2024-02-26T11:00:00+00:00\",\"dateModified\":\"2024-03-12T14:38:32+00:00\",\"description\":\"Over the past few years, affordability has been noticeably on the decline. Everything from grocery bills to rent and mortgage payments has seen a hike, Explore how home prices compare to the rising cost of living across Canada, as we delve into market trends, affordability challenges, and opportunities for prospective homebuyers.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.zoocasa.com\/blog\/cost-of-living-vs-home-prices-feb-2024\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.zoocasa.com\/blog\/cost-of-living-vs-home-prices-feb-2024\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.zoocasa.com\/blog\/cost-of-living-vs-home-prices-feb-2024\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.zoocasa.com\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Cost of Living Climbs: Here&#8217;s How Home Prices Stack Up to Living Costs\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.zoocasa.com\/blog\/#website\",\"url\":\"https:\/\/www.zoocasa.com\/blog\/\",\"name\":\"Zoocasa Blog\",\"description\":\"Home Buying &amp; Selling Tips, Real Estate Market Trends &amp; News\",\"publisher\":{\"@id\":\"https:\/\/www.zoocasa.com\/blog\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.zoocasa.com\/blog\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/www.zoocasa.com\/blog\/#organization\",\"name\":\"Zoocasa\",\"url\":\"https:\/\/www.zoocasa.com\/blog\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.zoocasa.com\/blog\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2020\/09\/zoocasa-square-logo-800x800px.png\",\"contentUrl\":\"https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2020\/09\/zoocasa-square-logo-800x800px.png\",\"width\":800,\"height\":800,\"caption\":\"Zoocasa\"},\"image\":{\"@id\":\"https:\/\/www.zoocasa.com\/blog\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/Zoocasa\",\"https:\/\/twitter.com\/Zoocasa\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.zoocasa.com\/blog\/#\/schema\/person\/f94c43a0733031723a673cfb21916c34\",\"name\":\"Mackenzie Scibetta\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.zoocasa.com\/blog\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/ded7f071461ec5c3dcfdd3948f16cbe95ba5c6ad6523fe23de3a4b9f45101002?s=96&d=blank&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/ded7f071461ec5c3dcfdd3948f16cbe95ba5c6ad6523fe23de3a4b9f45101002?s=96&d=blank&r=g\",\"caption\":\"Mackenzie Scibetta\"},\"description\":\"Mackenzie Scibetta is a seasoned Content Marketing Specialist at Zoocasa, where she brings her expertise to the world of real estate. As a dedicated real estate writer, Mackenzie's primary goal is to equip home buyers and sellers with the most up-to-date market insights, enabling them to navigate their real estate ventures with confidence. Mackenzie's writing is characterized by its depth and breadth, covering a wide range of topics related to the real estate industry. From exploring the intricacies of mortgages to meticulously tracking and analyzing trends in local markets across Canada and the U.S., Mackenzie is known for her comprehensive and data-driven reports. Her commitment to providing valuable information is evident in the consistent quality of her work. Mackenzie's research and insights have earned her recognition from prominent media outlets. Her expertise has been featured in BNN Bloomberg, CTV News, the National Post, The Globe and Mail, and even The New York Times. These accolades underscore her position as a trusted authority in the field of real estate.\",\"url\":\"https:\/\/www.zoocasa.com\/blog\/author\/mackenzie-scibetta\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Cost of Living Climbs: Here's How Home Prices Stack Up to Living Costs | Zoocasa Blog","description":"Over the past few years, affordability has been noticeably on the decline. Everything from grocery bills to rent and mortgage payments has seen a hike, Explore how home prices compare to the rising cost of living across Canada, as we delve into market trends, affordability challenges, and opportunities for prospective homebuyers.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.zoocasa.com\/blog\/cost-of-living-vs-home-prices-feb-2024\/","og_locale":"en_US","og_type":"article","og_title":"Cost of Living Climbs: Here's How Home Prices Stack Up to Living Costs | Zoocasa Blog","og_description":"Over the past few years, affordability has been noticeably on the decline. Everything from grocery bills to rent and mortgage payments has seen a hike, Explore how home prices compare to the rising cost of living across Canada, as we delve into market trends, affordability challenges, and opportunities for prospective homebuyers.","og_url":"https:\/\/www.zoocasa.com\/blog\/cost-of-living-vs-home-prices-feb-2024\/","og_site_name":"Zoocasa Blog","article_publisher":"https:\/\/www.facebook.com\/Zoocasa","article_published_time":"2024-02-26T11:00:00+00:00","article_modified_time":"2024-03-12T14:38:32+00:00","og_image":[{"width":600,"height":338,"url":"https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2024\/02\/Blog-x-Social-Images-2-5-1.png","type":"image\/png"}],"author":"Mackenzie Scibetta","twitter_card":"summary_large_image","twitter_image":"https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2024\/02\/Blog-x-Social-Images-2-5-1.png","twitter_creator":"@Zoocasa","twitter_site":"@Zoocasa","twitter_misc":{"Written by":"Mackenzie Scibetta","Est. reading time":"5 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.zoocasa.com\/blog\/cost-of-living-vs-home-prices-feb-2024\/#article","isPartOf":{"@id":"https:\/\/www.zoocasa.com\/blog\/cost-of-living-vs-home-prices-feb-2024\/"},"author":{"name":"Mackenzie Scibetta","@id":"https:\/\/www.zoocasa.com\/blog\/#\/schema\/person\/f94c43a0733031723a673cfb21916c34"},"headline":"Cost of Living Climbs: Here&#8217;s How Home Prices Stack Up to Living Costs","datePublished":"2024-02-26T11:00:00+00:00","dateModified":"2024-03-12T14:38:32+00:00","mainEntityOfPage":{"@id":"https:\/\/www.zoocasa.com\/blog\/cost-of-living-vs-home-prices-feb-2024\/"},"wordCount":864,"publisher":{"@id":"https:\/\/www.zoocasa.com\/blog\/#organization"},"articleSection":["Affordability Reports","Canada","Infographics","Market Insights"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.zoocasa.com\/blog\/cost-of-living-vs-home-prices-feb-2024\/","url":"https:\/\/www.zoocasa.com\/blog\/cost-of-living-vs-home-prices-feb-2024\/","name":"Cost of Living Climbs: Here's How Home Prices Stack Up to Living Costs | Zoocasa Blog","isPartOf":{"@id":"https:\/\/www.zoocasa.com\/blog\/#website"},"datePublished":"2024-02-26T11:00:00+00:00","dateModified":"2024-03-12T14:38:32+00:00","description":"Over the past few years, affordability has been noticeably on the decline. Everything from grocery bills to rent and mortgage payments has seen a hike, Explore how home prices compare to the rising cost of living across Canada, as we delve into market trends, affordability challenges, and opportunities for prospective homebuyers.","breadcrumb":{"@id":"https:\/\/www.zoocasa.com\/blog\/cost-of-living-vs-home-prices-feb-2024\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.zoocasa.com\/blog\/cost-of-living-vs-home-prices-feb-2024\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.zoocasa.com\/blog\/cost-of-living-vs-home-prices-feb-2024\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.zoocasa.com\/blog\/"},{"@type":"ListItem","position":2,"name":"Cost of Living Climbs: Here&#8217;s How Home Prices Stack Up to Living Costs"}]},{"@type":"WebSite","@id":"https:\/\/www.zoocasa.com\/blog\/#website","url":"https:\/\/www.zoocasa.com\/blog\/","name":"Zoocasa Blog","description":"Home Buying &amp; Selling Tips, Real Estate Market Trends &amp; News","publisher":{"@id":"https:\/\/www.zoocasa.com\/blog\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.zoocasa.com\/blog\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.zoocasa.com\/blog\/#organization","name":"Zoocasa","url":"https:\/\/www.zoocasa.com\/blog\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.zoocasa.com\/blog\/#\/schema\/logo\/image\/","url":"https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2020\/09\/zoocasa-square-logo-800x800px.png","contentUrl":"https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2020\/09\/zoocasa-square-logo-800x800px.png","width":800,"height":800,"caption":"Zoocasa"},"image":{"@id":"https:\/\/www.zoocasa.com\/blog\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/Zoocasa","https:\/\/twitter.com\/Zoocasa"]},{"@type":"Person","@id":"https:\/\/www.zoocasa.com\/blog\/#\/schema\/person\/f94c43a0733031723a673cfb21916c34","name":"Mackenzie Scibetta","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.zoocasa.com\/blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/ded7f071461ec5c3dcfdd3948f16cbe95ba5c6ad6523fe23de3a4b9f45101002?s=96&d=blank&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/ded7f071461ec5c3dcfdd3948f16cbe95ba5c6ad6523fe23de3a4b9f45101002?s=96&d=blank&r=g","caption":"Mackenzie Scibetta"},"description":"Mackenzie Scibetta is a seasoned Content Marketing Specialist at Zoocasa, where she brings her expertise to the world of real estate. As a dedicated real estate writer, Mackenzie's primary goal is to equip home buyers and sellers with the most up-to-date market insights, enabling them to navigate their real estate ventures with confidence. Mackenzie's writing is characterized by its depth and breadth, covering a wide range of topics related to the real estate industry. From exploring the intricacies of mortgages to meticulously tracking and analyzing trends in local markets across Canada and the U.S., Mackenzie is known for her comprehensive and data-driven reports. Her commitment to providing valuable information is evident in the consistent quality of her work. Mackenzie's research and insights have earned her recognition from prominent media outlets. Her expertise has been featured in BNN Bloomberg, CTV News, the National Post, The Globe and Mail, and even The New York Times. These accolades underscore her position as a trusted authority in the field of real estate.","url":"https:\/\/www.zoocasa.com\/blog\/author\/mackenzie-scibetta\/"}]}},"_links":{"self":[{"href":"https:\/\/www.zoocasa.com\/blog\/wp-json\/wp\/v2\/posts\/27662","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.zoocasa.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.zoocasa.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.zoocasa.com\/blog\/wp-json\/wp\/v2\/users\/132"}],"replies":[{"embeddable":true,"href":"https:\/\/www.zoocasa.com\/blog\/wp-json\/wp\/v2\/comments?post=27662"}],"version-history":[{"count":0,"href":"https:\/\/www.zoocasa.com\/blog\/wp-json\/wp\/v2\/posts\/27662\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.zoocasa.com\/blog\/wp-json\/wp\/v2\/media\/27666"}],"wp:attachment":[{"href":"https:\/\/www.zoocasa.com\/blog\/wp-json\/wp\/v2\/media?parent=27662"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.zoocasa.com\/blog\/wp-json\/wp\/v2\/categories?post=27662"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.zoocasa.com\/blog\/wp-json\/wp\/v2\/tags?post=27662"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}