What a home costs in Charlottetown, what you pay to close, and how much a physician program lets you buy.
Benchmark price for Charlottetown, July 2026, from the Prince Edward Island Real Estate Association, MLS HPI. Province-wide figure; no Charlottetown-only benchmark is published. Other cities show the MLS Home Price Index benchmark unless marked. Figures reviewed August 2026.
A physician program could add
$0
to the home you can buy.
Estimate at 4.49%, stress tested at 6.49%, with 10% down, below the $1.5M insured limit.
Prince Edward Island charges a Real Property Transfer Tax of 1% of the greater of purchase price or assessed value. Qualifying first-time buyers are exempt from the tax, so many first-home physician buyers pay no transfer tax at all.
Sources: Prince Edward Island, real property transfer tax. Rates reviewed August 2026.
Physician programs qualify residents on $185,000 in PGY-1 and PGY-2 and $225,000 from PGY-3, not on these salaries.
Maritime Resident Doctors, Maritime Resident Doctors 2024-2027 agreement, schedule A, in effect from July 2026.
Do first-time buyers pay transfer tax in PEI?
Qualifying first-time buyers are exempt from PEI's 1% Real Property Transfer Tax, so many first-home physician buyers in Charlottetown pay no transfer tax at all.
Is Charlottetown affordable for physicians?
Yes. PEI is among the most affordable provinces, and combined with the first-time buyer transfer tax exemption, Charlottetown has very low entry costs for physician buyers.
