![Vital Signs: Affordable Housing](https://hamiltoncommunityfoundation.ca/vitalsigns-report/wp-content/themes/vitalsigns_2023/theme/logo.png)
Affordability of newly constructed homes
While there has been a steady increase in new home construction, very little of this addresses the need from lower-income households. The chart below shows that average prices for newly completed single and semi-detached units increased 52% between 2016 and 2021. For row and condominium units, prices peaked near $450,000 in 2019 before dropping off to just under $400,000 in 2021.
![](https://hamiltoncommunityfoundation.ca/vitalsigns-report/wp-content/uploads/2023/09/Chart-2-Absorbed-price-1024x616.png)
* Recently completed and sold.
Source: Canada Mortgage and Housing Corporation, Housing Market Information Portal.