Canada ranks among the least affordable housing markets in the developed world, trailing the United States and the United Kingdom, according to a new report released today by the Frontier Centre for Public Policy.

The 2026 Demographia International Housing Affordability report found Canada’s overall median multiple reached 5.4, placing the country in the severely unaffordable category. By comparison, the United States recorded a median multiple of 4.5 and the United Kingdom 5.2.

Canada was also one of only two nations in the study to record no improvement in housing affordability in 2025, while four of the eight countries surveyed showed measurable gains.