How much house can I afford in Montréal?
Montréal sets its own transfer-duty (welcome tax) brackets: 0.5% to 1.5% up to $552,300, then 2%, 2.5%, 3.5% and 4% above $3,113,000. On a $600,000 home that is $7,349, with no first-time exemption. Property tax varies by borough, about 0.62% to 0.65% municipal plus school tax. The CMHC premium is taxed at 9%, rising to 9.975% in 2027.
Worked examples use 4.12%, the Bank of Canada's average effective rate on new insured 5-year-plus fixed mortgages (2026-08), and are recalculated whenever our rules or rates are updated.
What's different about buying in Montréal
Montréal is the one Quebec municipality the law lets go above a 3% transfer-duty rate. Four things shape a Montréal budget:
- The City's own transfer-duty brackets, seven of them in 2026, rising to 4% above $3,113,000.
- No first-time buyer exemption from the duties at the provincial level.
- Property tax that varies by borough, plus Quebec's uniform school tax.
- Tax on the CMHC premium of 9%, rising to 9.975% for premiums paid after December 31, 2026, paid in cash at closing.
Lending limits are the national ones: GDS up to 39% and TDS up to 44%, at the stress-test rate.
Montréal transfer duties (the welcome tax)
The City's 2026 table, in effect since January 1, 2026:
| Portion of the base | Rate |
|---|---|
| $0 to $62,900 | 0.5% |
| $62,900 to $315,000 | 1.0% |
| $315,000 to $552,300 | 1.5% |
| $552,300 to $1,104,700 | 2.0% |
| $1,104,700 to $2,136,500 | 2.5% |
| $2,136,500 to $3,113,000 | 3.5% |
| Above $3,113,000 | 4.0% |
The first three bands match Quebec's default rates. From $552,300 the City's rates climb past the province's 1.5%. On a $600,000 purchase the duties are $7,349. At example prices, compared with the provincial default that applies where a municipality hasn't set its own rates:
| Example price | Montréal | Quebec default | Extra in Montréal |
|---|---|---|---|
| $400,000 | $4,111 | $4,111 | $0 |
| $552,300 | $6,395 | $6,395 | $0 |
| $800,000 | $11,349 | $10,111 | $1,239 |
| $1,200,000 | $19,826 | $16,111 | $3,715 |
| $2,500,000 | $55,961 | $35,611 | $20,350 |
Below $552,300 a Montréal buyer pays exactly what the default would charge. Above it the gap grows with the price: at $2,500,000 the City's duties are about 57% higher than the default. Homes priced at $1,500,000 or more also need 20% down, since they can't have an insured mortgage.
2027 indexation
Quebec indexes the transfer-duty thresholds every January. For 2027 the provincial thresholds become $64,400 and $322,600, up from $62,900 and $315,000. Montréal publishes its own table each year; we had not seen the City's 2027 table when we checked, so the figures on this page use 2026 rates. If you close in 2027, the thresholds will be slightly higher and the duties at the same price slightly lower.
First-time buyers
Quebec has no provincial first-time exemption from transfer duties, so a first-time buyer in Montréal pays the same duties as anyone else. The City runs its own assistance program for some buyers; we haven't reviewed its current terms, so check them with the City before you count on it. Federal programs apply as everywhere: the FHSA, the RRSP Home Buyers' Plan (up to $60,000 per person) and the GST rebate on new homes. See first-time home buyer programs.
Property tax by borough
Montréal's 2026 municipal tax has a citywide part of about 0.5556 per $100 of assessed value (general property tax, ARTM, roads and water), plus amounts that vary by borough: a charge for debts of former cities (from 0.0010 to 0.0196 per $100, depending on the borough) and two borough taxes, one for services and one for investments. The citywide part is made up of the general property tax (0.4631), the ARTM transit contribution (0.0070), roads (0.0024) and water (0.0831). Two examples: Ville-Marie comes to 0.6229 per $100 and Le Plateau-Mont-Royal to 0.6511. On top of that is the school tax: 0.07899 per $100 for 2026-27, after a $25,000 exemption.
| Example value | Ville-Marie per year | Le Plateau-Mont-Royal per year |
|---|---|---|
| $400,000 | $2,788 | $2,901 |
| $600,000 | $4,192 | $4,361 |
| $800,000 | $5,595 | $5,821 |
Our calculator uses 0.70% of value as Montréal's default, close to the Ville-Marie total. For a property in another borough, use its last tax bill.
Tax on the CMHC premium
CMHC says the provincial tax on the premium can't be added to the loan. On a $500,000 purchase with the minimum down payment of $25,000, the premium is $19,000; the tax is $1,710 at 9%, or $1,895 at the 9.975% rate that applies to premiums paid after December 31, 2026.
A Montréal affordability example
A first-time buyer household earning $115,000, with a $55,000 down payment (closing costs come on top), $400 a month of other debts and an example rate of 4.12% over 25 years, using our 0.70% Montréal tax rate and $100 a month for heat. The lender maximum is about $550,000 (GDS). At that price the City's transfer duties are $6,361 and the tax on the premium is $1,381. With $400 a month of condo fees the maximum is about $524,400. Elsewhere in Quebec, with the default duties and a 0.75% example tax rate, the same household would pay $6,344 in duties at a maximum of $548,900.
| Household income | Down payment | Maximum price | Transfer duties | Tax on premium | Cash to close |
|---|---|---|---|---|---|
| $80,000 | $30,000 | $360,400 | $3,517 | $1,189 | $37,406 |
| $115,000 | $55,000 | $550,000 | $6,361 | $1,381 | $65,442 |
| $150,000 | $85,000 | $736,400 | $10,077 | $1,817 | $99,594 |
| $200,000 | $140,000 | $1,011,000 | $15,569 | $2,430 | $160,699 |
Cash to close is the down payment, duties, premium tax and our planning estimates of $1,800 for the notary, $350 for title insurance and $550 for an inspection.
Next steps
- Run your numbers in the affordability calculator with Montréal selected; it applies the City's 2026 brackets.
- Price the premium and its tax in the CMHC insurance calculator.
- Read the Quebec guide for the provincial rules and 2027 changes.
What typical homes cost in Montréal, and the income each takes
| Home type | Typical price | Down payment | Household income needed | Cash to close |
|---|---|---|---|---|
| Single-family | $645,500 | $64,550 | $133,900 | $77,130 |
| Condo | $435,000 | $43,500 | $91,800 | $51,928 |
| Plex (2–5 units) | $860,500 | $86,050 | $177,500 | $103,470 |
Prices: Quebec Professional Association of Real Estate Brokers (QPAREB), Centris data, median sold price, Q3 2026 (July to September) (MLS® HPI benchmarks are CREA data published by the board). Collected November 1, 2026. Typical prices, not appraisals; the income figures are our calculation.
For comparison, a household earning $120,000 with $60,000 down could afford about $579,000 here. Run your own plan for Montréal, QC.
Run the numbers for Montréal, QC
This calculator starts with Montréal, QC's transfer tax and first-time relief. Open your full affordability plan set to Montréal, QC (property tax 0.700%).
Closing costs and land transfer tax calculator
Cash you need on closing day on top of your down payment.
| Montréal transfer duties (2026 brackets) | $8,349 |
|---|---|
| Sales tax on the CMHC premium | $1,632 |
| Legal / notary | $1,800 |
| Title insurance | $350 |
| Inspection / appraisal | $550 |
| Total | $12,681 |
Estimate, not advice. Your lawyer or notary prepares the final statement of adjustments, including property-tax and utility adjustments not shown here.
Closing costs $12,681, of which land transfer tax or fees $8,349.
Assumptions & sources
Assumptions
- Transfer tax is calculated on the purchase price (NB, PE and NS use the greater of price or assessed value).
- First-time buyer rebates assume you meet every condition (residency, occupancy, never owned).
- Legal, title insurance and inspection figures are our planning estimates; get quotes.
Sources
- Ville de Montréal — How property transfer duties are calculated (effective January 1, 2026). Checked .
- LégisQuébec — Act respecting duties on transfers of immovables (D-15.1), s. 2. Checked .
- Ville de Montréal — Taux de taxes pour 2026. Checked .
- CGTSIM — Understanding school tax (2026-27 rate). Checked .
Frequently asked questions
How much is the welcome tax in Montréal on a $600,000 home?
$7,349 under the City's 2026 brackets. The provincial default would be $7,111; Montréal charges more above $552,300.
Do first-time buyers pay the welcome tax in Montréal?
Yes. Quebec has no provincial first-time exemption from transfer duties. The City runs a separate assistance program for some buyers; check its terms with the City.
What is Montréal's property tax rate?
It depends on the borough. In 2026 the municipal rate is about 0.6229 per $100 in Ville-Marie and 0.6511 in Le Plateau-Mont-Royal, plus school tax of 0.07899 per $100 after a $25,000 exemption.
How much house can I afford in Montréal on $115,000?
About $550,000 with $55,000 down, $400 a month of other debts and an example 4.12% rate over 25 years, using a 0.70% property tax rate.
Primary sources
- Ville de Montréal — How property transfer duties are calculated (effective January 1, 2026). Checked .
- LégisQuébec — Act respecting duties on transfers of immovables (D-15.1), s. 2. Checked .
- Gouvernement du Québec — Transfer-duty brackets for 2027 (effective January 1, 2027). Checked .
- Ville de Montréal — Taux de taxes pour 2026. Checked .
- CGTSIM — Understanding school tax (2026-27 rate). Checked .
- CMHC — Calculating GDS / TDS. Checked .
- OSFI — Minimum qualifying rate for uninsured mortgages (Guideline B-20). Checked .
- CMHC — Homeowner mortgage loan insurance: Purchase (eligibility). Checked .