The financial weight of mortgage payments in major Ontario cities has reached a breaking point in recent years, according to a new study that raises alarm bells about runaway costs and stagnating wages. "There is a perception that housing outside of the GTA is still somewhat affordable, but that's not true. "Housing affordability is a function of both home prices and incomes, and as wages and incomes have flatlined across Ontario in recent years, housing unaffordability crisis has worsened," said Steven Globerman, Fraser Institute senior fellow and study co-author. Globerman argues that the fix to this imbalance is for policymakers in Ontario to "focus on increasing wages and incomes as part of the overall solution." According to provincial labour market data, the average hourly wage in Ontario sat at $37.36 as of April 2025, translating to a pre-tax monthly income of $5,977.60, or an annual income of $71,731.20 for workers logging 40 hours per week.