What a House in Ottawa Actually Costs
The asking price is the start of the math, not the end. A $689,900 median house in Ottawa, the October 2026 figure from the Home613 market report, carries a stack of costs above and beyond the mortgage. Specifically, the down payment, default insurance, land transfer tax, legal work, and inspection each take their own share. This page adds them up with real 2026 numbers. Live inventory sits on the properties pages, and the Home613 blog carries the weekly market data behind these figures.
Key Takeaways
- The Ottawa median house price sat at $689,900 in October 2026.
- Minimum down payment on that price is $44,000 under federal tiers.
- Provincial land transfer tax on the median price reaches about $10,549.
- Legal fees and title insurance typically add $1,750 to $2,900 combined.
- In short, cash at closing runs roughly 7% to 8% of the purchase price for a first-time buyer.
The Down Payment Tiers
Federal mortgage rules set the minimum down payment in steps. First, 5% applies to the first $500,000 of the price. Second, 10% applies to the portion from $500,000 to $750,000. Above $750,000, 20% applies to the whole amount. Therefore, the $689,900 median home needs $25,000 on the first tier plus $18,990 on the second, which lands at $43,990. Call it $44,000.
However, a sub-20% down payment also triggers CMHC default insurance. The premium ranges from 2.8% to 4.0% of the loan, depending on the ratio, and it rolls into the mortgage instead of cash at closing. As a result, the monthly payment rises even though closing day does not.
Cash at Closing
Ontario charges land transfer tax in brackets: 0.5% on the first $55,000, 1% up to $250,000, 1.5% up to $400,000, and 2% above. On $689,900, that totals about $10,549. First-time buyers of Canadian homes can claim up to $4,000 back under the provincial rebate, therefore the effective cash drop is closer to $6,549 for that group.
In addition, the file needs a lawyer. Ottawa real estate legal fees typically run $1,500 to $2,500, plus disbursements of a few hundred dollars. Title insurance, which covers title defects and survey issues, adds $250 to $400 as a one-time premium. Finally, the home inspection costs $400 to $600, and an appraisal, if the lender orders one, runs about $300 to $500.
The Monthly Payment Layer
After closing, the mortgage sets the monthly rhythm. As an example, a $645,900 loan on the median home (20% down) at a 5.25% five-year fixed rate amortized over 25 years costs about $3,870 per month. Property tax on an Ottawa home of this band runs roughly $6,000 to $7,500 per year, or $500 to $625 monthly. Heating, utilities, and maintenance typically add another 1% of the home’s value per year, so $6,900 on the median house.
Moreover, the OREB recorded 771 sales in September 2026, down 11% year over year, which softens price pressure. Buyers who negotiate hold more of the budget than those who compete in a frenzy. The fall buyers market breakdown carries the sales detail.
The Total Picture
Added up, the median Ottawa house asks for roughly $44,000 down, $10,549 in land transfer tax before any rebate, $1,750 to $2,900 in legal and title costs, and $400 to $600 for inspection. That is $56,000 to $59,000 in cash at the table, in short, about 8% of the price before rebate programs. The monthly carrying cost then runs near $4,400 to $4,500 with tax and heat. Therefore, the real cost question is two questions: what lands at closing, and what repeats every month.
Last updated: November 2, 2026. Sources: Home613 October 2026 market report, OREB sales data, CMHC mortgage insurance programs, and Ontario land transfer tax schedule.
Frequently Asked Questions
What is the minimum down payment on an Ottawa house?
Federal tiers set the floor: 5% of the first $500,000, 10% of the next $250,000, and 20% above $750,000. On the $689,900 median home, the minimum lands at about $44,000.
How much cash do closing costs take in Ontario?
Plan for 1.5% to 2% of the price. That range covers land transfer tax, legal fees, title insurance, and the inspection. On the median house, the cash stack reaches roughly $12,000 to $14,000 before the first-time rebate.
Does the CMHC insurance premium come due at closing?
No. The premium rolls into the mortgage balance instead of cash at closing. As a result, closing cash stays the same, and the monthly payment rises by the premium amount.