• It takes 7 years of full-time work for the typical young person to save a 20% down payment on an average priced home – 3 more years than when today’s aging population started out as young people.
• There is little difference between the average home values in Fredericton and the rest of the province.
• For those locked out of home ownership, the average rent for a 2-bedroom unit in New Brunswick in 2021 was $11,628/year, compared to average rents closer to $8,650/year in 1981.

The numbers in Figure 35 illustrate the gap between average home prices in New Brunswick and what is considered affordable for typical residents between the ages of 25 and 34, based on their average earnings. As a province with a small share of Canada’s population, New Brunswick has “relatively” affordable housing – an economic asset that is worth cherishing and protecting.