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13 Feb

Does this Canadian city really have the world’s most affordable housing market?

Real Estate Market

Posted by: Garth Chapman

Fort McMurray has topped a ranking of the world’s most affordable housing markets.

The Alberta city leads affordability in the 2020 Demographia International Housing Affordability Survey which rates middle-income housing affordability using the “Median Multiple,” which is the median house price divided by the median household income; a score of 2 would mean it takes twice the median income to afford a median-priced home.

Fort McMurray with a median multiple of 1.8 ranks highly following economic disruption in recent years as oil prices and investment have tumbled.

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