Housing affordability index

In this context, the HIA defines affordability in accordance with the premise that "housing costs become excessive should they exceed more than 30% of their income.

[7] This HAI is "meant to measure the share of disposable income that a representative household would put toward housing-related expenses," which includes mortgage payments and utility fees.

[2] The National Bank of Canada publishes a Housing Affordability Monitor report, which "measures housing affordability in 10 major census metropolitan areas" (Calgary, Edmonton, Hamilton, Montreal, Ottawa–Gatineau, Quebec City, Toronto, Vancouver, Victoria, Winnipeg) and "summarizes the results in a weighted-average composite of the 10 CMAs."

"[11][2] The NHPI is used by economists, academics, and the general public to monitor trends in the residential sector of the Canadian construction industry.

[14] The National Association of Realtors (NAR) publishes a monthly Housing Affordability Index which "measures whether or not a typical family earns enough income to qualify for a mortgage loan on a typical home at the national and regional levels based on the most recent price and income data.