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Ottawa's average home price is $662,800 as of February 2026, down slightly 1.1% year-over-year. Ottawa is subject to Ontario's provincial land transfer tax, with rates up to 2% on purchase prices above $400,000. First-time buyers in Ontario can claim a rebate of up to $4,000 on provincial land transfer tax. Ottawa does not have a municipal land transfer tax (unlike Toronto, which adds a second LTT on top). Best 5-year fixed insured mortgage rates in Ottawa follow the national market: 4.39% fixed and 3.60% variable as of November 9, 2026. Ottawa's market is anchored by stable federal government employment and strong suburban demand.
Ontario (ON): provincial LTT applies; no municipal LTT in Ottawa (unlike Toronto). Defaults ~$662,800 / 20% down — LTT is a closing cost, not in payment results.
20.0% of home price
| Down | Down payment | CMHC | Monthly |
|---|---|---|---|
| 5% | $33,140 | $25,186 | $3,624.40 |
| 10% | $66,280 | $18,492 | $3,403.93 |
| 20% | $132,560 | — | $2,934.73 |
| 25% | $165,700 | — | $2,751.31 |
Canadian mortgages use nominal rates compounded semi-annually (converted to an effective annual rate, then to your payment frequency). Chart shows cumulative principal and interest paid each year; ending balance trends down toward zero.
Total interest paid
$350,180
Total amount paid
$880,420
Principal + interest on the loan
Interest vs purchase price
53%
of home price goes to interest (illustrative)
Same loan amount, rate, and amortization as above. Semi-monthly and bi-weekly match your monthly cash flow; accelerated bi-weekly uses half the monthly payment every two weeks (13 monthly equivalents per year).
| Frequency | Payment amount | Total interest | Payoff time | Savings vs monthly |
|---|---|---|---|---|
| Monthly | $2,934.73 | $350,180 | 25 years | — |
| Semi-monthly | $1,467.37 | $348,684 | 24 years 11 months | $1,497 |
| Bi-weekly | $1,354.49 | $348,569 | 25 years | $1,612 |
| Accelerated bi-weeklyRecommended | $1,467.37 | $297,074 | 21 years 8 months | $53,107 |
Savings vs monthly shown on wider screens.
| Year | Average Price | Change YoY |
|---|---|---|
| 2024 | ~$671,000 | +1.8% |
| 2025 | ~$670,000 | -0.1% |
| Feb 2026 | $662,800 | -1.1% |
| Purchase Price | LTT Rate |
|---|---|
| First $55,000 | 0.5% |
| $55,001–$250,000 | 1.0% |
| $250,001–$400,000 | 1.5% |
| $400,001–$2,000,000 | 2.0% |
On Ottawa's average home of $662,800, Ontario land transfer tax is approximately $9,556. First-time buyers qualify for a provincial rebate of up to $4,000, reducing net LTT to approximately $5,556. Note: Ottawa has no additional municipal land transfer tax, unlike Toronto.
| Home Price | Minimum Down Payment | CMHC Insurance Required |
|---|---|---|
| Up to $500,000 | 5% | Yes |
| $500,001–$999,999 | 5% on first $500K + 10% on remainder | Yes |
| $1,000,000+ | 20% | No |
At Ottawa's average price of $662,800 with 10% down ($66,280), your insured mortgage is approximately $596,520 plus CMHC premium (~$23,861). At an example qualifying rate of 5.99% (a 3.99% contract rate + 2%), you need gross annual income of approximately $120,000–$130,000 to pass the stress test. Budget an additional $5,556–$9,556 for Ontario land transfer tax at closing.
The average home price in Ottawa is approximately $662,800 as of February 2026, down 1.1% year-over-year. The median home price is around $615,500. Ottawa offers better affordability than Toronto while maintaining strong demand from federal government employees.
Ottawa buyers pay Ontario's provincial land transfer tax, which ranges from 0.5% on the first $55,000 to 2% on amounts above $400,000. On a $662,800 home, the LTT is approximately $9,556. First-time buyers qualify for a provincial rebate of up to $4,000. Ottawa has no additional municipal land transfer tax.
Yes. Ontario first-time home buyers can claim a provincial land transfer tax rebate of up to $4,000, effectively eliminating LTT on homes up to approximately $368,000. For Ottawa's average home of $662,800, first-time buyers pay a net LTT of approximately $5,556 after the rebate. Federal programs including the FHSA and Home Buyers' Plan are also available.
Best 5-year fixed insured mortgage rates in Ottawa follow the national market: 4.39% fixed and 3.60% variable as of November 9, 2026. Ottawa buyers qualify for the same national mortgage rates as other Canadian cities.
To afford Ottawa's average home of $662,800 with 10% down at an example rate of 3.99%, you need approximately $120,000–$130,000 in gross annual income to pass the mortgage stress test at 5.99%.
Ottawa's 2026 residential property tax rate is approximately 1.2–1.3% of assessed value. The 2026 budget includes approximately a 3.75% tax increase. On a $662,800 home, annual property taxes are approximately $7,950–$8,600.
Educational estimates only. Not a lender pre-approval.