This page sets out that trade with GVR's September 2026 detached benchmark, the federal down payment rule and the strata rules that come with a multiplex home.
The short version
- GVR's September 2026 detached benchmark for Greater Vancouver was $1,784,700, down 7.3% over one year.
- At $1,784,700, the federal minimum down payment is 20%, or $356,940, because insured mortgages stop at $1.5 million. At $1,200,000 it would be $95,000.
- A detached house has no strata. You insure it, repair it and decide everything about it yourself.
- A multiplex home's strata insures and repairs the outside, and you share those costs and decisions with the other owners.
- The land is yours alone with a detached house. In a multiplex strata it is usually common property, owned with the other owners.
The down payment is where the gap shows first
The federal rule, published by the Financial Consumer Agency of Canada, sets the minimum down payment by price. At $500,000 or less it is 5%. Between $500,000 and $1.5 million it is 5% of the first $500,000 and 10% of the rest. At $1.5 million or more it is 20%, because mortgage insurance is not available above that price and a lender needs the larger stake.
That last step matters in Greater Vancouver. GVR's September 2026 detached benchmark was $1,784,700, above the $1.5 million line, so a buyer at the benchmark needs at least $356,940 down. A home at $1,200,000 needs $95,000, and a home at $1,000,000 needs $75,000.
With less than 20% down, the mortgage must be insured, and the premium is added to the loan. CMHC's premium is 4.00% of the loan when the loan is between 90.01% and 95% of the price, 3.10% between 85.01% and 90%, and 2.80% between 80.01% and 85%. Ask your lender how the premium changes your monthly payment.
In our view, this is the single biggest reason families look at multiplex homes. For many households, the difference between 20% of a house price and the federal minimum on a home under $1.5 million is the difference between buying this year and saving for several more.
| Price | Minimum down payment | Mortgage insurance needed? |
|---|---|---|
| $900,000 | $65,000 | Yes, below 20% down |
| $1,000,000 | $75,000 | Yes, below 20% down |
| $1,200,000 | $95,000 | Yes, below 20% down |
| $1,499,000 | $124,900 | Yes, below 20% down |
| $1,784,700 (detached benchmark) | $356,940 | Not available at this price |
Federal minimum rule from the Financial Consumer Agency of Canada, read 23 October 2026. Benchmark: GVR, September 2026. Lenders can require more.
Repairs and insurance: alone or shared
In a detached house, every repair is yours. The roof, the drains, the windows and the fence are paid from your own savings when they fail, and you insure the whole house yourself.
In a multiplex strata, the strata insures the building at full replacement value under section 149 of the Strata Property Act, and Standard Bylaw 8 makes the strata repair the structure and outside of each home. The cost comes from strata fees, the contingency reserve fund, which must receive at least 10% of each year's operating budget, and, when a large repair outruns the fund, a special levy approved by a 3/4 vote.
So the cost is shared, and so is the decision. A detached owner replaces the roof when they choose. A multiplex owner replaces it when the strata agrees, and pays their share by unit entitlement. You also buy your own policy for your contents, improvements, liability and the strata deductible, which the Province advises every strata owner to carry.
The land, the yard and changing the home
A detached house comes with its lot. The land is yours, and within the city's rules you decide what grows on it, what is built on it and who parks on it.
In most multiplex homes, the land is common property, owned by all the owners in shares set by unit entitlement. Section 66 of the Strata Property Act gives you a share of that land equal to your unit entitlement divided by the total. A yard may be limited common property for your use only, or part of your strata lot in a bare land strata. Changes to the outside of the building, or to common property, need the strata's written approval under Standard Bylaws 5 and 6.
In our view, buyers should be honest with themselves about this. If you plan to change the house over the years, adding rooms, reworking the garden or rebuilding later, a detached house gives you that freedom and a multiplex home does not. If you want the home to stay as it is and the outside looked after with others, a multiplex home gives you that for less.
Prices by area
GVR's area benchmarks show how the detached price changes across the region. The table compares detached and townhouse benchmarks in the areas where multiplex buyers most often look. The townhouse column excludes duplexes, so treat it as a reference for attached homes, never as a multiplex price.
| Area | Detached benchmark | Townhouse benchmark |
|---|---|---|
| Vancouver East | $1,630,500 | $980,400 |
| Vancouver West | $2,916,100 | $1,298,500 |
| Burnaby East | $1,694,900 | $857,900 |
| Burnaby North | $1,808,500 | $880,400 |
| Burnaby South | $1,894,600 | $942,100 |
| Coquitlam | $1,584,400 | $976,600 |
| New Westminster | $1,356,900 | $854,200 |
| Port Moody | $1,903,500 | $940,900 |
| Richmond | $1,871,100 | $1,025,000 |
Greater Vancouver REALTORS, MLS® HPI, September 2026. GVR's townhouse figures do not include duplexes. No multiplex benchmark is published.
Insurance on a house and on a strata home
The insurance difference is one of the least discussed. A detached owner buys one policy that covers the whole house, its contents and the owner's liability, and pays every claim's deductible.
A multiplex owner relies on two policies. The strata's policy covers the building at full replacement value. The owner's own policy, which the Province advises every strata owner to carry, covers contents, improvements, personal liability, the cost of living elsewhere after a loss, and the owner's exposure to the strata deductible. The Province's page for strata corporations says deductibles can range from $100,000 to $750,000 or more, depending on the number of homes and the claims history.
Ask for the strata's insurance summary before you buy, and get a quote for your own policy with deductible cover that matches it. Add that premium to the monthly cost when you compare with a house.
The same tax rules, applied to different prices
Property transfer tax and its exemptions work the same way for a house and a multiplex home, so the price is what changes the result. BC's first time home buyers' program exempts the first $500,000 of the price on a home with a fair market value of $835,000 or less, with a partial exemption up to $860,000. The newly built home exemption removes the tax on a new principal residence up to $1,100,000, with a partial exemption up to $1,150,000.
At GVR's September 2026 detached benchmark of $1,784,700, neither exemption applies. A brand new multiplex home under $1,100,000 can qualify for the newly built home exemption if the buyer is a Canadian citizen or permanent resident who will live in it.
Property tax follows the assessed value each year. A home with a lower assessed value pays less at the same rates, and the Province's home owner grant can reduce the bill on a principal residence if you qualify.
Who a detached house suits, and who a multiplex home suits
A detached house suits a household with the larger down payment, the savings to repair a whole house alone, and a wish to control the property fully. It also suits anyone who plans to change the house or the land over time.
A multiplex home suits a household that wants a house-like home on a street of houses, at a lower entry price, and is comfortable sharing decisions with a small number of neighbours. Families buying across two generations sometimes buy two homes in one multiplex, which gives each household its own title and its own mortgage while living next door.
If you are stretching for a detached house, work out both down payments and both monthly costs before you decide. Our affordability calculator and our cost-of-owning guide lay out the numbers for each.
Questions buyers ask
More in Compare Home Types
Also worth reading
Where these numbers come from
Every figure on this page comes from the body that issues it. Rules and rates change, so each entry says when we checked it.
- Greater Vancouver REALTORS monthly market report and MLS® Home Price Index, September 2026. Greater Vancouver REALTORS. Released October 2, 2026, accessed October 9, 2026.
- Saving for a down payment: minimum down payment by purchase price. Financial Consumer Agency of Canada. Current page, accessed 23 October 2026.
- CMHC mortgage loan insurance cost. Canada Mortgage and Housing Corporation. Current page, accessed 23 October 2026.
- Strata Property Act, Schedule of Standard Bylaws (bylaws 8, 9 and 18). BC Laws, King's Printer for British Columbia. Act current to 20 October 2026, accessed 23 October 2026.
- Strata owner and tenant insurance. Government of British Columbia. Published 23 July 2025, accessed 23 October 2026.
- Strata Property Act, Part 5: Property (sections 66 and 67). BC Laws, King's Printer for British Columbia. Act current to 20 October 2026, accessed 23 October 2026.
General information only. The down payment amounts, CMHC premiums and tax exemption thresholds on this page are illustrative and based on rules as of the dates noted. They are not financial, mortgage, tax or legal advice, and not a guarantee of qualification or any outcome. CMHC rules, down payment rules and tax thresholds change. Always consult a licensed mortgage broker or your lender, and a tax professional or real estate lawyer, before making any purchase or financing decision.
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