Buying · Budget · QPAREB Q2 2026 figures
A $630,000 median in Varennes, so $133,000 of household income: here is where the number comes from and how to bring it down.
To buy the median house in Varennes in 2026 you need roughly $133,000 of gross household income. The Sainte-Julie/Varennes area median is $630,000 in the second quarter of 2026 (0% over one year, 49 % over five years), selling in 22 days. With the minimum down payment of $38,000 and a 30-year amortization, the mortgage payment would be about $2,959 a month at 4.09%. But the lender does not qualify you at 4.09%: it qualifies you at 6.09%, the qualifying rate, and that is where the gap between what you pay and what you must earn comes from. Every existing debt reduces your capacity accordingly.
The median house in Varennes sells at $630,000. Here is the income required for that price and for the budgets around it, with the minimum down payment and no other debt.
| Purchase price | Minimum down payment | CMHC premium | Monthly payment at 4.09%, 30 years | Gross household income required |
|---|---|---|---|---|
| $470,000 | $23,500 | $17,860 | $2,232 | $101,000 |
| $570,000 | $32,000 | $21,520 | $2,689 | $121,000 |
| $630,000 | $38,000 | $23,680 | $2,959 | $133,000 |
| $760,000 | $51,000 | $28,360 | $3,544 | $158,000 |
Varennes shares its area with Sainte-Julie but its market leans toward the river and its housing stock is a little older. Its welcome tax is payable in four 30-day instalments beyond $1,000, one of the most flexible schedules on the South Shore.
At a 22-day median you do not have time to put a file together after you find the house. The written pre-approval has to be in hand before the first showing, with the rate held for 90 to 120 days. Without it your offer ranks behind the prepared buyer's, even at the same price.
No lender asks you what your salary is. It calculates two ratios, and the tighter of the two decides.
Here is the trap: the calculation does not use your rate, it uses the qualifying rate, which is the higher of 5.25% or your contract rate plus two percentage points. At 4.09% you are therefore tested at 6.09%. You pay the 4.09% payment, but you have to qualify as if you paid the 6.09% one. That is why the required income surprises almost everyone.
Then comes the down payment: 5% up to $500,000, then 5% on the first portion and 10% on the part above, up to $1.5 million. From $1.5 million up it is 20% and the loan can no longer be insured. The CMHC premium is added to the loan, except the 9.975% QST on that premium, which is paid in cash at the notary and cannot be financed.
The market, the streets and the traps are covered in our guide to buying a house in Varennes.
Gross, before tax. Lenders calculate on gross household income, and the 39% ratio is designed for that.
For the ratio, yes. The lender then looks at the stability of each income and at both borrowers' credit histories.
The $38,000 down payment, plus the 9.975% QST on the CMHC premium which is paid in cash, plus notary fees of $1,500 to $2,500, an inspection of $500 to $800 and the welcome tax. Count all of it before you offer.
The incomes shown here are calculated, not copied. The 4.09% insured five-year fixed rate is the reading of 11 September 2026; the qualifying rate is the one set by federal regulation, the higher of 5.25% or the contract rate plus two percentage points. The down payment thresholds and insurance premiums are the ones in force. Median prices by area come from the QPAREB, second quarter of 2026. Your own file may produce a different result: a lender also looks at your other debts, the stability of your income and your credit history.
The Loaa & Manseur team, led by Lotfi Manseur and Loaa Al Daow, is the number 1 team at RE/MAX Platine in 2024 and 2025, 6th RE/MAX team in Quebec, 15th in Canada and in the global top 50 of large residential teams according to the official RE/MAX ranking, computed on actual transactions. Its Google profile counts more than 220 reviews with a 4.9 rating. Its offices are at 55 avenue de l'Équinoxe in Brossard, one bridge from the island, and every broker's licence can be checked in the OACIQ public register. Three things to verify yourself before calling us, and to demand of any other broker.
Also available in French: version française de ce guide.
Published September 7, 2026 by the Loaa & Manseur team, the number 1 team at RE/MAX Platine in 2024 and 2025, 6th RE/MAX team in Quebec, 15th in Canada and in the global top 50 according to the official RE/MAX ranking. Tell us about your project.
Équipe no 1 de RE/MAX Platine en 2024 et en 2025, 6e au Québec, 15e au Canada et dans le top 50 mondial au classement officiel RE/MAX. Réponse en moins de 24 heures, sept jours sur sept.