What $1.5 Million Buys in a New Vancouver or Burnaby Home, October 2026

For $1.5 million in Vancouver or Burnaby in October 2026, you can buy a new half duplex or townhome with 3 bedrooms, 3 full bathrooms, 1,503 square feet and one parking space. Those are the medians for the 93 new homes asking $1,350,000 to $1,499,999 on October 8, 2026, in our copy of MLS® listings.

The same money buys a different home in each part of the two cities. In Burnaby, the median home in that price range had 4 bedrooms and 1,900 square feet. In Vancouver East it had 3 bedrooms and 1,495 square feet. In Vancouver West it was almost always a townhome, with a median of 1,294 square feet.

Every figure counts new homes built in 2025 or later, the only homes our copy of the MLS® feed holds. All prices are asking prices.

The two price bands we counted

We split a $1.5 million budget into two bands, because the down payment rules change at $1,500,000. The lower band is $1,350,000 to $1,499,999. The upper band is $1,500,000 to $1,650,000.

• $1,350,000 to $1,499,999: 93 homes. Median asking price $1,448,888.
• $1,500,000 to $1,650,000: 80 homes. Median asking price $1,599,000.

Those 173 homes are part of the 637 new townhomes, duplex homes and multiplex homes for sale in the two cities on October 8:

• Under $1,000,000: 38 homes.
• $1,000,000 to $1,349,999: 99 homes.
• $1,350,000 to $1,499,999: 93 homes.
• $1,500,000 to $1,650,000: 80 homes.
• $1,650,001 to $1,999,999: 161 homes.
• $2,000,000 or more: 166 homes.

The six bands add up to 637, the same count our September 2026 market update used.

22 homes asked between $1,490,000 and $1,499,999, and none asked exactly $1,500,000. Only 2 asked between $1,500,000 and $1,527,999, both townhomes. In our view, sellers set these prices below the line on purpose, because a buyer with less than 20% down can offer at most $1,499,999.

What $1,350,000 to $1,499,999 buys

The 93 homes in the lower band were 50 half duplexes (one side of a two-home building), 42 townhomes and 1 home filed as a detached house, which is a strata home on a lot shared with other new homes.

• Bedrooms: 56 homes had 3 bedrooms, 23 had 4, 7 had 5 and 7 had 2. The median was 3.
• Bathrooms: 44 homes had 3 full bathrooms, 40 had 2, 8 had 4 and 1 had 5. 72 homes also had at least one half bathroom, which is a toilet and sink with no shower.
• Floor area: the median was 1,503 square feet. The smallest was an 830 square foot townhome in the Cambie area, and the largest was a 2,607 square foot half duplex in Highgate, Burnaby.
• Price per square foot: the median was $962.
• Parking: 87 of the 93 listed at least one space, and 10 listed two. 41 listed a garage, 20 a carport and 14 a spot in shared underground parking. 6 listed no parking space.
• Year built: 62 homes list 2026, 23 list 2025, 6 list 2027 and 2 list 2028. A year built after 2026 means the home is due to be finished later.

Of the 42 townhomes, 22 are in developments of 6 homes or fewer, the size of a new triplex, fourplex, fiveplex or sixplex.

Floor area is the finished area the listing reports, every floor added together. In 69 of the 173 homes in both bands, that includes a floor below the main floor, so check the floor plan before you compare sizes.

What $1,500,000 to $1,650,000 buys

The 80 homes in the upper band were 51 half duplexes, 27 townhomes and 2 homes filed as detached houses. At these prices, the typical home gained floor area and bedrooms.

• Bedrooms: 38 homes had 3 bedrooms, 27 had 4, 10 had 5, 4 had 2 and 1 had 6. The median was 3, and 38 of the 80 had 4 or more.
• Bathrooms: 44 homes had 3 full bathrooms, 24 had 2, 11 had 4 and 1 had 5. 68 also had at least one half bathroom.
• Floor area: the median was 1,600 square feet, 97 more than in the lower band. The range was 882 to 2,703 square feet.
• Price per square foot: the median was $999.
• Parking: 77 of the 80 listed at least one space, and 18 listed two or more. 42 listed a garage, 18 a carport and 11 a spot in shared underground parking.
• Year built: 60 homes list 2026, 14 list 2025 and 6 list 2027.

If your family needs a fourth bedroom, the upper band had more: 38 of 80 homes, against 30 of 93 below the line.

Vancouver East, Vancouver West and Burnaby side by side

Vancouver East and Vancouver West are the two MLS® areas inside the City of Vancouver.

In the lower band ($1,350,000 to $1,499,999):

• Vancouver East, 52 homes: 36 half duplexes, 15 townhomes and 1 home filed as detached. Median price $1,438,000, median 3 bedrooms, median 1,495 square feet, median $964 per square foot.
• Vancouver West, 18 homes: 17 townhomes and 1 half duplex. Median price $1,478,900, median 3 bedrooms, median 1,294 square feet, median $1,127 per square foot. 7 of the 18 had 2 bedrooms, and 12 listed shared underground parking.
• Burnaby, 23 homes: 13 half duplexes and 10 townhomes. Median price $1,420,000, median 4 bedrooms, median 1,900 square feet, median $758 per square foot. 15 listed a garage.

In the upper band ($1,500,000 to $1,650,000):

• Vancouver East, 42 homes: 35 half duplexes and 7 townhomes. Median price $1,598,000, median 3 bedrooms, median 1,572 square feet, median $1,002 per square foot.
• Vancouver West, 16 homes: 13 townhomes, 2 half duplexes and 1 home filed as detached. Median price $1,584,900, median 3 bedrooms, median 1,302 square feet, median $1,221 per square foot.
• Burnaby, 22 homes: 14 half duplexes, 7 townhomes and 1 home filed as detached. Median price $1,599,000, median 4 bedrooms, median 2,010 square feet, median $796 per square foot.

Our read: if floor area and bedrooms come first, Burnaby gave the most of both at this budget, with 405 more square feet than Vancouver East at the median and a lower median price. If your family wants a half duplex inside the City of Vancouver, Vancouver East is where they are: 36 of the 37 Vancouver half duplexes in the lower band were there. Vancouver West at this budget means a townhome, and 8 of the 18 were in the Cambie area.

New half duplexes in Vancouver West ask more. Our post on buying a home over $1.5 million found a median of $2,238,000 for them on the same day.

Which neighbourhoods hold these homes

Each listing is placed once, using the MLS® sub-areas our neighbourhood pages group together.

Lower band, $1,350,000 to $1,499,999 (93 homes):

• Vancouver East (52): Renfrew-Collingwood 20, Victoria-Fraserview 9, Fraser 8, Kensington-Cedar Cottage 5, Hastings-Sunrise 5, Grandview-Woodland 3, South Vancouver 1, and 1 listing with no sub-area.
• Vancouver West (18): Cambie 8, South Granville 4, Oakridge 3, Kerrisdale 1, Marpole 1, Kitsilano 1.
• Burnaby (23): Forest Glen 6, Sperling-Duthie 4, Highgate 3, Burnaby Heights 3, Capitol Hill 3, Edmonds 1, Metrotown 1, Deer Lake 1, and 1 in Central Burnaby, a sub-area no page of ours covers.

Upper band, $1,500,000 to $1,650,000 (80 homes):

• Vancouver East (42): Renfrew-Collingwood 13, Grandview-Woodland 7, Hastings-Sunrise 5, South Vancouver 4, Victoria-Fraserview 4, Kensington-Cedar Cottage 3, Main 3, Fraser 2, Mount Pleasant 1.
• Vancouver West (16): Cambie 9, Oakridge 2, South Granville 1, Kitsilano 1, Arbutus 1, Shaughnessy 1, Marpole 1.
• Burnaby (22): Sperling-Duthie 7, East Burnaby 6, Willingdon Heights 4, Capitol Hill 1, Burnaby Heights 1, Forest Glen 1, Brentwood 1, Deer Lake 1.

Renfrew-Collingwood had the most homes in both bands: 20 in the lower band, 14 of them half duplexes, and 13 in the upper band, 12 of them half duplexes. You can see what is listed there now on our page for duplexes for sale in Renfrew-Collingwood.

In Burnaby's upper band, 17 of the 22 homes were in three neighbourhoods: Sperling-Duthie, East Burnaby and Willingdon Heights. Our Burnaby prices by neighbourhood post has every Burnaby neighbourhood at every price, and our Vancouver prices by neighbourhood guide covers the city side.

Cash needed at $1,499,900 and at $1,500,000

A $100 difference in price changes the minimum down payment by $175,010. Mortgage insurance, which is what lets you put down less than 20%, is limited to homes valued under $1,500,000. The federal rules say the value "must be less than $1,500,000", in the Insurable Housing Loan Regulations published in the Canada Gazette on March 12, 2025.

The Financial Consumer Agency of Canada sets the minimum down payment as 5% of the first $500,000 and 10% of the rest for a price under $1.5 million, and 20% at $1.5 million or more.

• At $1,499,900: 5% of $500,000 is $25,000, and 10% of the other $999,900 is $99,990. The minimum down payment is $124,990.
• At $1,500,000: 20% of the price. The minimum down payment is $300,000.

The smaller down payment comes with a cost. CMHC's premium table charges 4.00% of the loan when you borrow more than 90% of the price. At $1,499,900 with $124,990 down, the loan is $1,374,910, or 91.7% of the price. The premium is $54,996, and it is added to the mortgage, which becomes $1,429,906. At $1,500,000 with $300,000 down, the mortgage is $1,200,000 and there is no premium.

Monthly payments at a 4.50% rate, a made-up example for the math only and no forecast of rates:

• $1,429,906 over 25 years: $7,914 a month.
• $1,429,906 over 30 years: $7,210 a month. Insured mortgages on newly built homes can run up to 30 years under the same regulations.
• $1,200,000 over 25 years: $6,642 a month.

We used interest compounded twice a year, the usual method for Canadian fixed-rate mortgages. So below the line you bring $175,010 less cash and carry $229,906 more debt. Which side fits depends on your family's cash and the payment your income can carry.

Property transfer tax and GST at each price

Two taxes come on top of the down payment, and each changes by $5 or less at the line. BC's property transfer tax is 1% of the first $200,000 of fair market value and 2% of the value from $200,000 to $2,000,000.

• At $1,499,900: $2,000 plus 2% of $1,299,900, which is $27,998.
• At $1,500,000: $2,000 plus 2% of $1,300,000, which is $28,000.

Both BC exemptions stop below these prices. The first time home buyers' program ends at a fair market value of $860,000, and the newly built home exemption ends at $1,150,000.

GST is 5% on a new home:

• At $1,499,900: $74,995.
• At $1,500,000: $75,000.

The Canada Revenue Agency's first-time home buyers' GST rebate returns up to $50,000 on a new home valued at $1 million or less, a reduced amount between $1 million and $1.5 million, and nothing at $1.5 million or more. The CRA's own example gives 50% of the maximum at $1.25 million, the halfway point, so the rebate falls in a straight line. On that basis the most a qualifying first-time buyer could get back at $1,499,900 is $10. At $1,500,000 it is $0.

Ask in writing whether GST is included in the asking price or added on top. The answer can change your cash needs by $75,000.

The full cash picture side by side

If GST is added on top of the price and you put the minimum down, here are the three largest amounts:

• At $1,499,900: $124,990 down, $27,998 property transfer tax, $74,995 GST. Total: $227,983.
• At $1,500,000: $300,000 down, $28,000 property transfer tax, $75,000 GST. Total: $403,000.

The gap is $175,017. Legal fees, home insurance, moving and the other closing costs come on top of both. If a home you like is listed at $1,500,000 or more, a price agreed under $1,500,000 brings back the lower down payment, subject to your lender's approval.

These figures are general information, based on the rules as of October 2026. Rates, insurance rules and tax thresholds change. Confirm your own numbers with a licensed mortgage broker and a real estate lawyer or notary before you make an offer.

How we counted, and the checks we ran

Every count comes from our copy of MLS® listings after the refresh that finished at 10:09 AM Pacific on October 8, 2026: active listings in the City of Vancouver or the City of Burnaby, built in 2025 or later.

• Medians: the middle value. For an even number of homes, we show the lower of the two middle values.
• Band check: the six price bands add up to 637. One of them, a townhome at $2,580,000 filed under the City of Vancouver, sits in the MLS® area for West Vancouver, in the $2,000,000 or more band.
• Area check: 52, 18 and 23 add up to 93. 42, 16 and 22 add up to 80.
• Neighbourhood check: in each band, the neighbourhood counts add up to the area totals, including 2 lower band listings that no neighbourhood page covers.
• Shared sub-areas: a few MLS® sub-areas appear on two of our pages. In Vancouver, we count Victoria under Victoria-Fraserview and South Granville under South Granville. In Burnaby, as in our Burnaby prices post, we count Willingdon Heights under Willingdon Heights, Capitol Hill under Capitol Hill and Burnaby Hospital under Deer Lake.

What this comes down to

• On October 8, 2026, 93 new homes in Vancouver and Burnaby asked $1,350,000 to $1,499,999. The median had 3 bedrooms, 3 full bathrooms, 1,503 square feet and one parking space.
• 80 new homes asked $1,500,000 to $1,650,000, with a median of 1,600 square feet, and 38 of them had 4 or more bedrooms.
• Burnaby's median home in the lower band had 4 bedrooms and 1,900 square feet. Vancouver East's had 3 bedrooms and 1,495 square feet. Vancouver West at this budget meant a townhome.
• At $1,499,900 the minimum cash for down payment, transfer tax and GST is $227,983. At $1,500,000 it is $403,000.

Frequently asked questions

What can I buy for $1.5 million in Vancouver?

On October 8, 2026, 70 new homes in the City of Vancouver asked $1,350,000 to $1,499,999. In Vancouver East that bought a half duplex or townhome with a median of 3 bedrooms and 1,495 square feet. In Vancouver West it bought a townhome with a median of 1,294 square feet.

What can $1.5 million buy in Burnaby?

On October 8, 2026, 23 new homes in Burnaby asked $1,350,000 to $1,499,999: 13 half duplexes and 10 townhomes. The median home had 4 bedrooms, 3 full bathrooms and 1,900 square feet. Forest Glen had the most, with 6, followed by Sperling-Duthie with 4.

How much down payment do I need for a $1.5 million home?

At exactly $1,500,000 you need at least $300,000, which is 20%. Mortgage insurance requires a value under $1,500,000. At $1,499,900 the minimum is $124,990, but a $54,996 insurance premium is added to the mortgage. Your lender may ask for more than the minimum.

Can I buy a $1.5 million home with 10% down?

Only if the price is $1,499,999 or less. At $1,500,000 or more, the federal minimum is 20% of the price. On October 8, 2026, 22 new homes in Vancouver and Burnaby asked between $1,490,000 and $1,499,999, and none asked exactly $1,500,000.

How much is property transfer tax on a $1.5 million home in BC?

It is $28,000 at $1,500,000 and $27,998 at $1,499,900. BC charges 1% on the first $200,000 of fair market value and 2% on the value from $200,000 to $2,000,000. The first-time buyer and newly built home exemptions stop at $860,000 and $1,150,000, so neither applies.

Do I pay GST on a new $1.5 million home?

Yes. GST is 5%, which is $75,000 at $1,500,000 and $74,995 at $1,499,900. The first-time home buyers' GST rebate is $0 at $1,500,000 and, on the CRA's straight-line example, at most $10 at $1,499,900. Ask whether GST is included in the asking price.

Can I get a new duplex in Vancouver for $1.5 million?

Yes, mostly in Vancouver East. On October 8, 2026, 37 new half duplexes in Vancouver asked $1,350,000 to $1,499,999, and 36 of them were in Vancouver East. Renfrew-Collingwood had 14 of those, Fraser had 7 and Hastings-Sunrise had 5.

How many bedrooms does $1.5 million buy?

Three is the most common. Of the 93 new homes asking $1,350,000 to $1,499,999 on October 8, 2026, 56 had 3 bedrooms, 23 had 4, 7 had 5 and 7 had 2. In Burnaby the median was 4 bedrooms, and in Vancouver it was 3.

Which Vancouver neighbourhoods have new homes under $1.5 million?

In our $1,350,000 to $1,499,999 band on October 8, 2026, Renfrew-Collingwood had 20 new homes, Victoria-Fraserview 9, Fraser 8, Cambie 8, Kensington-Cedar Cottage 5 and Hastings-Sunrise 5. Cambie's 8 were all townhomes except one half duplex.

Do new homes at this price come with parking?

Most do. Of the 93 homes asking $1,350,000 to $1,499,999, 87 listed at least one parking space and 10 listed two. 41 listed a garage, 20 a carport and 14 a spot in shared underground parking. In Vancouver West, 12 of the 18 had underground parking.

How much cash do I need to close on a $1,499,900 new home?

With the minimum down payment and GST added on top, the three largest amounts are $124,990 down, $27,998 property transfer tax and $74,995 GST, for $227,983. Legal fees, insurance and moving costs come on top. At $1,500,000 the same three total $403,000.

Your next step

If your budget is $1.5 million, start with the homes in your band and the areas that fit your family. Browse every new home for sale on our properties page, or contact us and we will send you the current list for your price range, with the cash you need for each one.