Salary to buy · Sept-Îles · 2016 vs 2026
The gross income it takes to buy the median house in Sept-Îles, computed for every year from 2016 to 2026 with the Centris price and the year's contracted rate: how much more than in 2016, and the price's and the rate's share of the increase. Labelled assumptions, nothing estimated on prices.
To buy the median house in Sept-Îles, a household needed a gross income of about $33,000 in 2016 (price of $174,000, rate of 2.67%) and needs about $56,369 in 2026 (price of $275,000 over January to September 2026, rate of 4.14%): $23,369 more, +71%, for a price up 58%. The monthly housing cost (mortgage at 20% down over 25 years, taxes at 1% of the price, heating) went from $880 to $1,503; the mortgage is 78% of it. Of the $23,369 increase, the price explains $16,994 and the rate $6,375 (27%). It is one of the lowest required salaries among the 50 cities tracked (median $120,462 in 2026, $47,644 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, 32% gross debt service ratio. Source: Centris (Matrix) for prices, compiled October 13, 2026.
The short answer
To buy the median house in Sept-Îles, a household needed a gross income of about $33,000 in 2016 (price of $174,000, rate of 2.67%) and needs about $56,369 in 2026 (price of $275,000 over January to September 2026, rate of 4.14%): $23,369 more, +71%, for a price up 58%. The monthly housing cost (mortgage at 20% down over 25 years, taxes at 1% of the price, heating) went from $880 to $1,503; the mortgage is 78% of it. Of the $23,369 increase, the price explains $16,994 and the rate $6,375 (27%). It is one of the lowest required salaries among the 50 cities tracked (median $120,462 in 2026, $47,644 in 2016).
The salary required for the median house in Sept-Îles, 2016 to 2026
| Year | Median house | 5-year contracted rate | Monthly mortgage payment | Monthly housing cost | Gross salary required |
|---|---|---|---|---|---|
| 2016 | $174,000 | 2.67% | $635 | $880 | $33,000 |
| 2017 | $161,000 | 2.87% | $601 | $835 | $31,319 |
| 2018 | $170,000 | 3.49% | $678 | $920 | $34,488 |
| 2019 | $179,500 | 3.17% | $692 | $942 | $35,309 |
| 2020 | $175,000 | 2.44% | $623 | $869 | $32,581 |
| 2021 | $192,250 | 2.13% | $661 | $921 | $34,544 |
| 2022 | $207,250 | 3.90% | $863 | $1,136 | $42,588 |
| 2023 | $228,292 | 5.26% | $1,089 | $1,379 | $51,722 |
| 2024 | $256,000 | 4.96% | $1,186 | $1,499 | $56,225 |
| 2025 | $277,500 | 4.20% | $1,192 | $1,523 | $57,122 |
| 2026 | $275,000 | 4.14% | $1,174 | $1,503 | $56,369 |
Median price of single-family houses 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; required salary = annual cost ÷ 32%.
What the comparison says in Sept-Îles
- The price rose 58% and the required salary 71% in Sept-Îles: the rate did the rest, 2.67% in 2016 against 4.14% in 2026. At the 2016 rate, the 2026 house would require $49,994 of salary instead of $56,369.
- The decade's lowest rate, in 2021: $34,544 of salary required for a house at $192,250 at a 2.13% rate. From 2021 to 2026, the required salary rose 63% in Sept-Îles, the price 43%.
- One more point of rate in 2026 would add $4,612 to the required salary in Sept-Îles; one point less would remove about as much, 8% of the required salary, the equivalent of a price increase of the same order.
- The price ÷ required salary ratio went from 5.3 to 4.9 in Sept-Îles: it takes $20,498 of income per $100,000 of price in 2026.
- Across the 50 cities tracked, the salary required for the median house went from $47,644 to $120,462 in median (+144%, price +124%); it doubled in 47 cities, exceeds $100,000 in 35 cities (against 1 in 2016) and $150,000 in 9. In 2016, 38 cities made do with $60,000; in 2026, 1.
What it changes for buying or selling in Sept-Îles
In Sept-Îles, the required salary rose +71% in ten years, less than in most of the 50 cities tracked (median +144%), because the price rose less. At $56,369 of gross income with 20% down, the median house stays within reach of an average household; with the minimum down payment and the lender's qualifying rate, the bar is higher: that is the calculation in what salary to buy a house in Sept-Îles. For a seller, that is good news: the pool of qualified buyers at this price is wide. The payment alone, year by year, is in mortgage payment on the median house in Sept-Îles; the down payment in down payment to buy in Sept-Îles.
How to read these figures
The required salary is the household's gross annual income such that the housing cost (mortgage payment, municipal and school taxes, heating) is 32% of income, the gross debt service (GDS) ratio lenders use. 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, 32% gross debt service ratio. Other debts (car, cards) reduce capacity accordingly; the lender's qualifying rate (contract rate plus 2 points) is not applied here, which makes the calculation more favourable than actual qualification.
Frequently asked questions
What salary does it take to buy the median house in Sept-Îles in 2026?
About $56,369 of gross household income for the median house at $275,000 (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. With the minimum down payment and the qualifying rate, more is needed.
And in 2016, how much did it take in Sept-Îles?
In 2016, the median house in Sept-Îles cost $174,000 and the rate was 2.67%: $33,000 of income was enough. In 2026, $56,369: +71%. The price explains $16,994 of the increase and the rate $6,375.
Was it the price or the rate that pushed the required salary up in Sept-Îles?
The price first: at the 2016 rate, the 2026 house would already require $49,994, +51% against 2016. The rate adds $6,375, 27% of the increase in Sept-Îles. Across the 50 cities, the rate's share is 20% in median.
Sources: Centris (Matrix), Statistics module, September 16, 2026 query for the municipality of Sept-Îles, median sale price of single-family houses by year; Bank of Canada and Statistics Canada (table 10-10-0006) for contracted rates; tax and heating assumptions labelled; compiled by the Loaa & Manseur team, aggregates only. The salary to buy the median house in 50 cities hub compares the 50 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.