Salary to buy a condo · Kirkland · 2016 vs 2026
The gross income needed to buy the median condo in Kirkland, calculated for every year from 2016 to 2026 with the Centris price and that year's contracted rate: how much more than in 2016, how much less than the house, and what condo fees weigh. Labelled assumptions.
To buy the median condo in Kirkland, a household needed a gross income of about $43,125 in 2016 (price $234,000, rate 2.67%) and needs about $96,750 in 2026 (price $486,000 from January to September 2026, rate 4.14%): $53,625 more, +124%, for a price up 108%. The monthly housing cost (mortgage at 20% down over 25 years, taxes at 1% of the price, heating), condo fees extra, went from $1,150 to $2,580. The median house in Kirkland needs $186,481 of income in 2026: the condo needs 48% less, or $89,731. It is one of the highest required salaries of the 49 cities tracked for condos (median $78,375 in 2026, $34,103 in 2016). Assumptions: 20% down payment, 25-year amortization, the year's average contracted rate (2.67% in 2016, 2.13% in 2021, 4.14% in 2026), municipal and school taxes estimated at 1% of the price per year, heating and electricity at $1,200 per year, a 32% gross debt service ratio, condo fees not included. Source: Centris (Matrix) for prices, compiled October 28, 2026.
The short answer
To buy the median condo in Kirkland, a household needed a gross income of about $43,125 in 2016 (price $234,000, rate 2.67%) and needs about $96,750 in 2026 (price $486,000 from January to September 2026, rate 4.14%): $53,625 more, +124%, for a price up 108%. The monthly housing cost (mortgage at 20% down over 25 years, taxes at 1% of the price, heating), condo fees extra, went from $1,150 to $2,580. The median house in Kirkland needs $186,481 of income in 2026: the condo needs 48% less, or $89,731. It is one of the highest required salaries of the 49 cities tracked for condos (median $78,375 in 2026, $34,103 in 2016).
Salary required for the median condo in Kirkland, 2016 to 2026
| Year | Median condo | 5-year contracted rate | Monthly mortgage payment | Monthly housing cost | Gross salary required |
|---|---|---|---|---|---|
| 2016 | $234,000 | 2.67% | $855 | $1,150 | $43,125 |
| 2017 | $245,000 | 2.87% | $915 | $1,219 | $45,719 |
| 2018 | $285,000 | 3.49% | $1,137 | $1,474 | $55,294 |
| 2019 | $298,750 | 3.17% | $1,152 | $1,501 | $56,288 |
| 2020 | $366,500 | 2.44% | $1,305 | $1,710 | $64,141 |
| 2021 | $448,250 | 2.13% | $1,541 | $2,014 | $75,544 |
| 2022 | $448,500 | 3.90% | $1,868 | $2,342 | $87,816 |
| 2023 | $470,000 | 5.26% | $2,243 | $2,735 | $102,550 |
| 2024 | $425,000 | 4.96% | $1,970 | $2,424 | $90,906 |
| 2025 | $426,000 | 4.20% | $1,830 | $2,285 | $85,688 |
| 2026 | $486,000 | 4.14% | $2,075 | $2,580 | $96,750 |
Median price of condos sold on Centris (Matrix) by year (2026: January to September 2026); average 5-year contracted rate (Bank of Canada, Statistics Canada 10-10-0006); payment at 20% down over 25 years; housing cost = payment + taxes estimated at 1% of the price + heating $1,200 per year, condo fees not included; required salary = annual cost ÷ 32%.
What the comparison says in Kirkland
- The condo price rose 108% and the required salary 124% in Kirkland: the rate did the rest, 2.67% in 2016 versus 4.14% in 2026. At the 2016 rate, the 2026 condo would need $85,500 of salary instead of $96,750; the rate explains 21% of the increase.
- The 2026 median condo in Kirkland needs $96,750 of income, more than the 2016 median house ($83,981). In 47 of 49 cities, today's condo takes more salary than the house of ten years ago.
- The lowest rate of the decade, in 2021: $75,544 of required salary for a condo at $448,250 at 2.13%. From 2021 to 2026, the required salary rose 28% in Kirkland, the price 8%.
- On October 28, 2026, the Bank of Canada raised its policy rate from 2.25% to 2.5%: variable rates follow, while the 5-year fixed rate used here depends mostly on bond yields. One more point of interest is worth about $8,138 of required salary on the median condo in Kirkland, 8% of the required income.
- Across the 49 cities tracked, the salary required for the median condo went from $34,103 to $78,375 at the median (+121%, price +106%); it doubled in 41 cities. In 2016, 48 of 49 cities needed $60,000 or less; in 2026, 5, and 25 stay under $80,000.
What it changes for buying or selling a condo in Kirkland
In Kirkland, the salary required for a condo rose +124% in ten years, in line with the 49 cities tracked (median +121%). At $96,750 of gross income with 20% down, the median condo takes a good salary or two modest incomes; with the minimum down payment, the insurance premium and the lender's qualifying rate (contract rate plus 2 points), the bar goes up a notch. For a seller, the required income tells you who your buyer is. The house alongside: salary to buy the median house in Kirkland. The payment alone, year by year, is in mortgage payment on the median condo in Kirkland; the effect of the October 28 hike in rate hike in Kirkland: what it changes for buyers.
How to read these numbers
The calculation separates two effects: price and rate. The salary "at the 2016 rate" recalculates the 2026 condo at the 2016 rate, which gives the share of price in the increase; the rest is the rate. Assumptions: 20% down payment, 25-year amortization, the year's average contracted rate (2.67% in 2016, 2.13% in 2021, 4.14% in 2026), municipal and school taxes estimated at 1% of the price per year, heating and electricity at $1,200 per year, a 32% gross debt service ratio, condo fees not included. Condo fees are not in the calculation, because they vary from one building to the next. Lenders generally count half of them in the GDS ratio: every $100 of monthly fees adds about $1,875 to the required salary, and $300 a month, about $5,625. This is not a pre-qualification: a mortgage broker applies the qualifying rate, your debts and your actual down payment.
Frequently asked questions
What salary do you need to buy a condo in Kirkland in 2026?
About $96,750 of gross household income for the median condo at $486,000 (January to September 2026), with 20% down, 25-year amortization, the 4.14% contracted rate, taxes at 1% of the price and $1,200 of heating, at a 32% GDS ratio. Add about $1,875 for every $100 of monthly condo fees.
How much less salary does a condo need than a house in Kirkland?
The median condo needs $96,750 of income in 2026 and the median house $186,481: $89,731 less, 48%. Across the 49 cities tracked, the median gap is $41,506 (35%), before condo fees.
Did price or rate push the required salary up in Kirkland?
Price first: at the 2016 rate, the 2026 condo would already need $85,500, +98% more than in 2016. The rate adds $11,250, 21% of the increase in Kirkland. Across the 49 cities, the rate's share is 21% at the median.
Sources: Centris (Matrix), Statistics module, September 16, 2026 query for the municipality of Kirkland, median sale price of condos by year; Bank of Canada and Statistics Canada (table 10-10-0006) for contracted rates; tax, heating and condo fee assumptions labelled; compiled by the Loaa & Manseur team, aggregates only. The salary to buy the median condo in 49 cities hub compares the 49 cities.
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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.