First-Time Buyers in Hamilton
What a first home costs in Hamilton, the programs that help, and what to check in an older house
What a first home
costs in Hamilton
In September 2026 the median sale price for a townhouse, condo or semi in Hamilton was $565,000, and for a single-family home $692,500, according to the Cornerstone Association of REALTORS®. In Burlington the same medians were $670,000 and $1,190,000.
At $565,000 the minimum down payment is $31,500. First-time buyers can use an FHSA and their RRSP together toward it, get up to $4,000 of the land transfer tax back, and, with less than 20% down, choose a 30-year amortization.
A median is the middle sale across the whole city. Prices vary a lot from one neighbourhood and street to the next, so use these as a starting point, not a price for a particular home.
Your first home at
September prices
| Hamilton median, Sept 2026 | Minimum down | Land transfer tax after refund | Tax on mortgage insurance |
|---|---|---|---|
| Townhouse, condo or semi: $565,000 | $31,500 | $3,775 | $1,707 |
| Single-family: $692,500 | $44,250 | $6,325 | $2,074 |
With the minimum down, the mortgage insurance premium itself, $21,340 and $25,930 at a 25-year amortization, is added to the mortgage. The 8% Ontario tax on it is paid in cash at closing. Legal fees, title insurance and moving come on top. Work out your own numbers with the closing costs calculator. Prices: Cornerstone Monthly Indicators, Hamilton, September 2026.
What helps
first-time buyers
| Program | What it does |
|---|---|
| First Home Savings Account (FHSA) | Save up to $40,000 over your lifetime, up to $8,000 a year, and withdraw it tax-free for your first home. You don’t pay it back. |
| Home Buyers’ Plan | Withdraw up to $60,000 from your RRSP toward the home, and repay it to your RRSP over time. |
| Both together | The CRA allows an FHSA withdrawal and a Home Buyers’ Plan withdrawal for the same home, if you meet the conditions of each when you withdraw. |
| Home Buyers’ Amount | A federal non-refundable tax credit worth up to $1,500 in the year you buy. |
| Ontario land transfer tax refund | Up to $4,000 back, so no tax on the first $368,000 of the price. Who qualifies. |
| 30-year amortization | With less than 20% down, first-time buyers can choose 30 years instead of 25. Payments are lower, but you pay more interest overall. |
| New homes | A newly built home has its own HST rebates for first-time buyers. See HST on a new build. |
“First-time buyer” means different things for different programs. For an FHSA withdrawal it means you haven’t lived in a home you owned during this year or the previous four. For the Ontario refund it means you have never owned a home anywhere in the world. Check each one.
Hamilton areas
first-time buyers consider
Hamilton Mountain. Many post-war bungalows and family streets, above the escarpment. Read about Hamilton Mountain.
The lower city. Century brick homes on older streets, in areas like Durand, Kirkendall and Corktown. Character, walkability, and older systems to check.
Stoney Creek. Part of the City of Hamilton, with newer subdivisions along the QEW corridor. See Stoney Creek.
Compare them side by side in our Hamilton neighbourhood guide, and read the Mountain or the lower city.
What to check
in an older house
Lead water pipe. The City of Hamilton says about 20,000 homes built before 1955 may have a lead water service pipe. The part on private property is the owner’s to replace. The City offers a free Check Size and Type Inspection at 905-546-2489 and a $3,000 loan toward replacement, repaid on the water bill over up to ten years, and replaces the public part once yours is done.
Basement flooding protection. Hamilton’s Protective Plumbing Program offers a grant of up to $2,000 toward a backwater valve and related work for single-family homes with a basement built before January 1, 2012. Using a contractor from the City’s pre-qualified list matters: with any other contractor the valve grant is capped at $500. A loan of up to $2,000 can cover costs above the grant.
Make your offer conditional on an inspection. Older wiring, plumbing, the roof and the foundation are what an inspection is for. Ask your insurer early if anything comes up, since it can affect your coverage.
On a condo, have your lawyer review the status certificate before you firm up. Our condo guide covers what to look for.
Hamilton’s
2026 rates
Hamilton’s 2026 residential tax rate is 1.557% in the former City of Hamilton with full-time fire service, and between 1.247% and 1.446% in Ancaster, Dundas, Flamborough, Glanbrook and Stoney Creek.
The rate is charged on your MPAC assessed value, not the price you pay. For 2026, assessments are still based on January 1, 2016 values, so they are usually below today’s prices. A home assessed at $400,000 in the former city pays about $6,228 a year. Ask for the seller’s latest tax bill before you make an offer.
From savings
to keys
- Open an FHSA early. Room starts building only once you open one.
- Get pre-approved. Federally regulated lenders test you at the greater of your contract rate plus 2% or 5.25%.
- Budget for closing. Land transfer tax, legal fees and the tax on mortgage insurance come on top of the down payment.
- Choose the area and type of home. Weigh commute, schools and the age of the homes.
- Make a conditional offer. Financing and inspection, plus the status certificate on a condo.
- Close. Your lawyer registers the transfer and usually claims the land transfer tax refund for you.
Hamilton first-time buyer FAQ
How much do I need for a down payment on a Hamilton home?
At the September 2026 median sale price for townhouses, condos and semis in Hamilton, $565,000, the minimum is $31,500: 5% of the first $500,000 plus 10% of the remaining $65,000. At the single-family median, $692,500, it is $44,250. Budget for closing costs on top.
Is there a municipal land transfer tax in Hamilton?
No. Hamilton buyers pay the Ontario land transfer tax only. In Ontario, only Toronto charges a municipal land transfer tax. First-time buyers can get up to $4,000 of the Ontario tax refunded.
Can I use my FHSA and the Home Buyers’ Plan for the same home?
Yes. The CRA allows a qualifying FHSA withdrawal and a Home Buyers’ Plan withdrawal from your RRSP for the same home, as long as you meet the conditions of each when you withdraw.
How do I know if a Hamilton home has a lead water pipe?
The City of Hamilton says about 20,000 homes built before 1955 may have a lead water service pipe. Call the City at 905-546-2489 for a free Check Size and Type Inspection. If the private part is lead, the City offers a $3,000 loan toward replacing it and replaces the public part itself.
Is Hamilton cheaper than Burlington for a first home?
In September 2026, Cornerstone reported a median sale price of $565,000 for townhouses, condos and semis in Hamilton, against $670,000 in Burlington. For single-family homes the medians were $692,500 and $1,190,000.
General information, not tax, legal or financial advice. Prices from Cornerstone’s Monthly Indicators for Hamilton, September 2026. Program rules from canada.ca, ontario.ca, CMHC, the City of Hamilton and MPAC. Programs change, so confirm the details with your lender, lawyer or advisor.
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