First-Time Home Buyer Guide: Oakville & Burlington 2027

Published 2 November 2026 · By Jatin Dua, Broker of Record, RE/MAX Quantum Realty

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Row of brick townhouses on a quiet Burlington residential street in late autumn (illustrative)

By Jatin Dua · Broker of Record, RE/MAX Quantum Realty · Updated 2 November 2026 · 9 min read — What a first home costs in Oakville and Burlington, the cash and income you need, and which first-time buyer programs actually apply in 2027.

Short answer

In Oakville and Burlington, most first-time buyers start with a condo apartment, where the typical sale was about $530,000 from January to October 2026. That needs about $28,000 down and roughly $33,000 in cash to close. The Ontario land transfer tax refund, FHSA and RRSP Home Buyers’ Plan all apply; neither city charges a municipal land transfer tax.

This guide is for first-time buyers who want to buy in Oakville or Burlington in 2027. You will see what each type of home actually sold for in 2026, how much cash and income you need, and which programs cut your costs in Halton.

How much does a first home cost in Oakville and Burlington?

A condo apartment is the usual first step in both cities. From January to October 2026, the median condo apartment sold for $528,000 in Oakville and $529,950 in Burlington. A median is the middle sale, so half sold for less.

The gap opens up once you move to ground-level homes. Burlington’s freehold townhouses and detached houses cost far less than Oakville’s.

Home type	Oakville median	Change vs 2025	Burlington median	Change vs 2025
Condo apartment	$528,000	−6.0%	$529,950	−4.9%
Condo townhouse	$712,500	−4.3%	$691,000	−7.1%
Freehold townhouse	$1,005,000	−7.8%	$860,000	−6.7%
Semi-detached	$985,000	−13.2%	$885,000	−3.3%
Detached	$1,625,000	−3.0%	$1,249,750	0.0%

Source: TRREB MLS data via REALM, January–October 2026 vs the same period of 2025. Median sold prices, city-wide. Semi-detached sales are small (77 in Oakville, 96 in Burlington).

Two things stand out. First, prices fell for almost every type, so 2027 buyers start from a lower base than buyers in 2024 did. Oakville’s median condo apartment was $620,000 in the same months of 2024. Second, condos take longer to sell: 45 days on average in Oakville and 52 in Burlington, against about 31 days for freehold townhouses in both cities. Slow sales usually mean more room to negotiate.

How much down payment do first-time buyers need in Halton?

The federal minimum is 5% of the first $500,000 and 10% of the part between $500,000 and $1.5 million. At $1.5 million or more, you need 20% down, because mortgage insurance is not available.

Median Oakville condo ($528,000): $27,800 minimum down.
Median Burlington condo townhouse ($691,000): $44,100.
Median Burlington freehold townhouse ($860,000): $61,000.
Median Oakville freehold townhouse ($1,005,000): $75,500.
Median Burlington detached ($1,249,750): $99,975.

Oakville’s median detached house, at $1,625,000, is above the $1.5 million insurance limit. That means a minimum of $325,000 down. For most first-time buyers, a typical Oakville detached house is out of reach for this reason alone, even on a high income. My page on the minimum down payment at every price shows the exact figure for any budget.

How much cash do you need to close on a first home in Oakville or Burlington?

Your down payment is only part of the cash. With less than 20% down, a mortgage insurance premium is added to your loan, and Ontario’s 8% sales tax on that premium must be paid in cash at closing. You also pay Ontario land transfer tax, less the first-time buyer refund of up to $4,000. Oakville and Burlington buyers do not pay the extra municipal land transfer tax that applies in the City of Toronto.

Home (2026 median)	Minimum down	Tax on insurance premium	Ontario land transfer tax after refund	Cash before legal fees
Oakville condo apartment, $528,000	$27,800	$1,681	$3,035	about $32,500
Burlington condo townhouse, $691,000	$44,100	$2,174	$6,295	about $52,600
Burlington freehold townhouse, $860,000	$61,000	$2,685	$9,675	about $73,400
Oakville freehold townhouse, $1,005,000	$75,500	$3,123	$12,575	about $91,200

Source: my calculations from federal down payment rules, CMHC premium rates (4.00% plus 0.20% for a 30-year amortization) and Ontario land transfer tax rates and refund, as of November 2026. Prices: TRREB MLS data via REALM, January–October 2026.

Add legal fees, title insurance, a home inspection, moving costs and the adjustments your lawyer works out for prepaid property tax or condo fees. Ask your lawyer for a quote before you make an offer, so the full number is in your budget.

What income do you need to buy in Oakville or Burlington?

Lenders test you at the higher of 5.25% or your rate plus 2 points. Your housing costs at that test rate must stay within 39% of your gross income, and all debts within 44%. CMHC counts half of any condo fee in these ratios.

Using a 4.5% five-year fixed rate (close to the lowest advertised insured rate of 4.44% in early November 2026), a 30-year amortization, no other debts, and my own estimates for property tax and heat, the household income needed is roughly:

$528,000 Oakville condo with a $600 monthly fee: about $123,000.
$691,000 Burlington condo townhouse with a $400 fee: about $154,000.
$860,000 Burlington freehold townhouse: about $183,000.
$1,005,000 Oakville freehold townhouse: about $212,000.

These are estimates, not approvals. Car loans, student loans and credit card payments lower the number quickly. My guide to the mortgage stress test walks through the maths line by line.

Free tool — what can you actually afford?

Which first-time buyer programs can Oakville and Burlington buyers use?

I could not find a Halton Region, Oakville or Burlington down payment program for first-time buyers as of November 2026. The help comes from the province and Ottawa, and it applies the same way here as anywhere in Ontario.

Ontario land transfer tax refund

First-time buyers get up to $4,000 back. You must be 18 or older, a Canadian citizen or permanent resident, have never owned a home anywhere in the world (nor your spouse while married to you), and move in within nine months. It covers resale and new homes. See how the Ontario refund works.

First Home Savings Account (FHSA)

You can put in $8,000 a year, up to $40,000 in total, and deduct the contributions from your income. Unused room carries forward, capped at $8,000 a year. A couple can each open one.

RRSP Home Buyers’ Plan

You can withdraw up to $60,000 from your RRSP and repay it over 15 years. For a first withdrawal made from 2026 to 2028, repayments start in the fifth year after the withdrawal. You can use it together with an FHSA on the same home.

30-year insured mortgage

First-time buyers can get a 30-year amortization on an insured mortgage, which lowers the monthly payment. It adds 0.20 points to the insurance premium.

Relief on new homes

If you buy a newly built home, the federal First-Time Home Buyers’ GST Rebate removes the GST on homes up to $1 million (up to $50,000), phasing out at $1.5 million. Ontario’s New Home Affordability Payment page also describes combined HST relief of up to $130,000 on new homes. It calls the relief temporary and lists no start or end dates, so confirm with your lawyer whether your agreement qualifies before you count on it.

Is Oakville or Burlington better for a first-time buyer?

For a condo apartment, the price is the same in both cities, so pick on location and building. For anything with a front door on the street, Burlington costs less: a freehold townhouse ran about $145,000 below Oakville’s median in 2026.

Both cities sit on GO Transit’s Lakeshore West line, with all-day service to Union Station. Oakville has Oakville GO and Bronte GO; Burlington has Appleby, Burlington and Aldershot. Oakville is closer to Toronto, which matters if you commute downtown.

Property tax rates differ too. Oakville’s total 2026 residential rate is 0.850960% of your MPAC assessment. Always ask for the seller’s latest tax bill. My Oakville vs Burlington comparison covers taxes, schools and lifestyle side by side.

What does Halton Region consider an affordable home?

Halton Region’s 2024 State of Housing Report set the affordable ownership price at $564,100 in Oakville and $474,300 in Burlington. That is what a household at the 60th income percentile could carry on 30% of its income.

Compare that with the 2026 market. The median condo apartment in Oakville now sits below Halton’s Oakville line. In Burlington, the median condo is still above it. In plain terms, a typical Oakville condo has come back within reach of a middle-income household, while in Burlington you are likely looking at the lower half of the condo market, or two incomes.

My take

If you can stretch to a ground-level home, a Burlington freehold townhouse is the best value I see in Halton for a first purchase, since you own the land and pay no condo fee. If the budget says condo, look hard at the slower condo market in both cities: with average sale times near 50 days, I would not pay asking price without checking what the same layout sold for in that building this year.

What should first-time buyers check before buying a condo or townhouse in Halton?

The status certificate. Have your lawyer review it before your offer is firm. It shows the reserve fund, known lawsuits and any fee increases the board expects.
The monthly fee. Half the fee counts against you in the lender’s test, and the full fee comes out of your bank account each month.
What kind of townhouse it is. A freehold townhouse has no condo corporation. A condo townhouse does, with a fee and rules.
The commute you will actually make. Test the drive or GO trip at rush hour before you commit to a neighbourhood.

Watch out

Do not plan around a detached house in Oakville unless you have at least 20% saved. The 2026 median of $1,625,000 is above the $1.5 million insurance cap, so the 5% and 10% rules do not apply there. Check this before you book a single showing.

What to do next

Get a full pre-approval at today’s rates and ask the lender how much of a condo fee it counts.
Open an FHSA now if you have not, so this year’s $8,000 of room starts counting.
Work out your cash to close at your target price, including the tax on the insurance premium and land transfer tax after the refund.
Pick two or three neighbourhoods in each city and compare recent sales of the same home type.
Book a lawyer before you offer, and have them review any status certificate as a condition.

Need help with this? Talk to me.

I’m Jatin Dua, Broker of Record at RE/MAX Quantum Realty, and I’m the best agent to do this kind of work for you in Toronto and across the GTA. Over $100 million in GTA sales and 100+ families helped sell. Feel free to contact me any time: call or text 833-330-1925 or email [email protected].

Book a free call Call 833-330-1925

Frequently asked questions

What programs are available for first-time home buyers in Oakville?

Oakville first-time buyers can use the Ontario land transfer tax refund of up to $4,000, the First Home Savings Account, the RRSP Home Buyers’ Plan of up to $60,000, and a 30-year insured mortgage. On new homes, the federal GST rebate can apply. As of November 2026, I found no separate Oakville or Halton Region down payment program.

How much do you need to buy a condo in Burlington in 2027?

For a condo at Burlington’s 2026 median of $529,950, the minimum down payment is $27,995 and the cash needed before legal fees is about $32,800, including tax on the mortgage insurance premium and land transfer tax after the first-time refund. The household income needed is roughly $123,000 with a $600 fee and no other debts.

Is there a land transfer tax in Oakville and Burlington?

Yes, Ontario land transfer tax applies, but there is no municipal land transfer tax in Oakville or Burlington. The extra municipal tax applies only in the City of Toronto. On a $528,000 home, the Ontario tax is about $7,035, or about $3,035 after the first-time buyer refund of up to $4,000, as of November 2026.

Can a first-time buyer afford a detached house in Oakville?

Rarely at the typical price. Oakville’s median detached house sold for $1,625,000 from January to October 2026, which is above the $1.5 million cap for mortgage insurance. That means at least 20% down, or $325,000, and a household income near $290,000 by my estimate. Townhouses and condos are the realistic first step.

Is Burlington cheaper than Oakville for first-time buyers?

Yes, for ground-level homes. In January to October 2026, Burlington’s median freehold townhouse was $860,000 against $1,005,000 in Oakville, and its median detached house was $1,249,750 against $1,625,000. Condo apartments cost almost the same in both cities, at about $528,000 to $530,000, per TRREB MLS data via REALM.

How much income do I need to buy a townhouse in Burlington?

About $183,000 of household income for a freehold townhouse at Burlington’s 2026 median of $860,000, with the minimum $61,000 down, a 30-year mortgage, a 4.5% rate and no other debts. A condo townhouse at the $691,000 median needs about $154,000. These are my estimates using the federal stress test, not a lender approval.

Can I use my FHSA and the Home Buyers’ Plan to buy in Oakville?

Yes. You can use both on the same qualifying home in Oakville or anywhere in Canada. The FHSA allows $8,000 a year up to $40,000 in total, and the Home Buyers’ Plan lets you withdraw up to $60,000 from your RRSP. A couple can each use both, which can add up to a large share of a down payment.

Do Oakville condo prices make sense for first-time buyers in 2027?

For many, yes. Oakville’s median condo apartment fell to $528,000 in January to October 2026, down from $620,000 in the same months of 2024, and below Halton Region’s 2024 affordable ownership price of $564,100 for Oakville. Condos took 45 days on average to sell, which gives buyers time and room to negotiate.

What is the property tax rate in Oakville for 2026?

Oakville’s total 2026 residential property tax rate is 0.850960% of the MPAC assessed value. That combines the town portion of 0.364585%, the Halton Region portion of 0.333375% and the education portion of 0.153000%. Assessments are still based on older values, so ask for the seller’s latest tax bill rather than using the price.

First-Time Home Buyer Guide for Oakville and Burlington (2027)