• 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.
• For those locked out of home ownership, the average rent for a 2-bedroom unit in Saskatchewan in 2021 was $13,404/year, compared to average rents closer to $9,165/year in 1981.
• Average home prices in Saskatoon are now $50,000 higher than the provincial average. Average prices in Regina are 25,000 higher.

The numbers in Figure 33 illustrate the gap between average home prices in Saskatchewan 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, Saskatchewan has “relatively” affordable housing – an asset for their economy that is worth cherishing and protecting.