New reports from Royal LePage and the federal government show Halifax has a relatively stable housing market, but that doesn’t mean it’s any more affordable.
According to new data released by real estate agency Royal LePage, homebuyers and homeowners in Halifax can rest assured that their investments will weather our current economic storm.
Prices over the last year have remained fairly stable, and Royal LePage’s market survey shows much of the same for 2026. Released on Tuesday, Dec. 9, the survey shows the aggregate price of a home in the fourth quarter of 2026 is predicted to increase by 2 percent year-over-year to $538,968.
The median price of a single-family home is expected to rise 4 percent to $628,056, while the median price of a condo is said to decrease by 2 percent to $391,804.
According to Matt Honsberger, broker and owner of Royal LePage Atlantic, this trend is consistent with what they’ve seen throughout 2025. In a press release from Royal LePage, Honsberger describes the state of Halifax’s housing market going into the new year.
“Halifax has maintained a consistent pace of activity, and although sales volumes are softer than expected, prices have held relatively steady,” says Honsberger. “Buyers are gradually adjusting to today’s borrowing environment, and despite some ongoing caution tied to broader economic and political uncertainty, many are recognizing that waiting may not lead to more favourable conditions.”
However, as Honsberger alludes to, this can only happen with improved affordability for those looking to buy a home, which they seem to expect going into 2026.
“Improving affordability will encourage more households to enter the market,” he says. “While we aren’t anticipating major shifts, we do foresee a healthier pace of activity and steady, sustainable growth across Atlantic Canada.”
Rental housing
While the housing market seems to be on track for 2026, the rental market remains stable but pricey. According to new numbers from Statistics Canada and the Canada Mortgage and Housing Corporation from Dec. 2, the average rent for a one-bedroom apartment in Halifax is $1,840. The average rent for a two-bedroom apartment is $2,310. These figures are based on third-quarter reporting in 2025.
Compared to Q3 2024 statistics, the asking rent for Halifax is down 2.1 percent for one-bedrooms and 3.3 percent for two-bedrooms. Q3 2024 shows the average asking rents for a one-bedroom were $1,880, and for two-bedrooms were $2,390. While these numbers tend to fluctuate up and down quarter-to-quarter, they seem to be relatively stable right now—whether or not they are affordable is a different matter.
Data from Statistics Canada shows that in Q2 2025, the average household income for Nova Scotians was $32,160—the second-lowest throughout all Canadian provinces, only after New Brunswick. During the same three-month period, housing costs (including energy and utilities) averaged out at $6,055 per household. These average costs were $5,732 in Q2 2024.
To break it down, someone making $32,160 annually would make around $1,909 monthly after deductions. Over three months (a quarter), the average person would make $5,727. This is short of the quarterly housing cost average by $328.
Although housing prices remain steady and rents aren’t increasing as drastically as they have in previous years, based on averages provided by statistics from the federal government, housing in Halifax remains unaffordable for the majority of its residents.