Increased listings and higher prices noted in Perth, as reported by the real estate board. Below are houses available in the area that fall below the average price.
Looking for a home within reach in Perth?
With an average household income of $68,100, a home around the $390,000 mark might be within reach for a Perth household, according to the Bank of Montreal's mortgage affordability calculator.
The average household could potentially secure a mortgage amount of up to $371,402 with a $20,000 down payment, based on a five-year fixed mortgage with a 25-year amortization and a 5.25% interest rate. This allows an average household to eye a home priced at $391,402.
At an interest rate of 2.5%, the monthly payment would amount to $1,664.
Perth's property market, as per a report by the Rideau-St. Lawrence Real Estate Board, demonstrates moderate availability, although there is persistent price growth, creating affordability challenges for average-income buyers. New listings in the area saw an 8.5% increase in March 2025 compared to the previous year, with the board overseeing property in the United Counties of Leeds and Grenville, Lanark, and part of Dundas County.
The average price of homes sold, $573,586, experienced a slight increase of 2% from March 2024.
Here are three homes for sale in the Town of Perth for less than $390,000:
Address: 93 Beckwith St. E.
Type: Single-family home
MLS Listing: www.realtor.ca/real-estate/28131925/93-beckwith-street-e-perth-907-perth
Bedrooms: 2
Bathrooms: 1
Annual Property Taxes: $2,238
Address: 14 Craig St.
Type: Single-family townhouse
MLS Listing: www.realtor.ca/real-estate/28139376/14-craig-street-perth-907-perth
Bedrooms: 3
Bathrooms: 2
Annual Property Taxes: $2,611
Address: 201-22 Welland St.
Type: Single-family condominium
MLS Listing: www.realtor.ca/real-estate/28231958/201-22-welland-street-perth-907-perth
Bedrooms: 2
Bathrooms: 1
Annual Property Taxes: $2,857
For those interested, the town of Perth's property market presents opportunities, albeit with affordability challenges for average-income buyers, as prices continue to rise.opt-out
Affordability becomes an issue for buyers with average incomes, with the recommended 5x threshold for mortgage stress being exceeded under current conditions. Units are comparatively more accessible, while houses may be out of reach for most households.
As the market remains tight, average-income buyers should keep a close eye on interest rates, economic uncertainties, and the upcoming federal election, as these factors may impact the housing market. Stay informed to find the perfect home within your budget.
- The Bank of Montreal's mortgage affordability calculator suggests that a home around $390,000 might be within reach for a Perth household.
- With an average household income of $68,100, an average household could potentially secure a mortgage amount of up to $371,402.
- At an interest rate of 2.5%, the monthly mortgage payment would amount to $1,664.
- Perth's property market, according to the Rideau-St. Lawrence Real Estate Board, shows moderate availability, but persistent price growth creates affordability challenges for average-income buyers.
- The average price of homes sold in Perth is $573,586, a 2% increase from the previous year.
- Three homes for sale in Perth for less than $390,000 are listed at 93 Beckwith St. E, 14 Craig St., and 201-22 Welland St.
- Affordability becomes an issue for buyers with average incomes, as the recommended 5x threshold for mortgage stress is exceeded under current conditions.
- To find the perfect home within budget, average-income buyers should keep a close eye on interest rates, economic uncertainties, and the upcoming federal election, as these factors may impact the housing market.
