What a home costs in London, what you pay to close, and how much a physician program lets you buy.
Benchmark price for London, July 2026, from the London and St. Thomas Association of REALTORS, July 2026 release. Board-wide figure. 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.
London buyers pay only the Ontario provincial land transfer tax, with no municipal surcharge. On a $650,000 home the provincial LTT is roughly $9,500 before the first-time buyer rebate, which offsets a large share of the tax on a typical purchase.
Sources: Ontario Ministry of Finance, calculating land transfer tax; Ontario, land transfer tax refunds for first-time homebuyers. 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.
PARO, PARO-OTH arbitration decision, September 24, 2024, in effect from July 2025. The agreement expired June 30, 2026. PARO states its terms, including salary, stay in effect until a new agreement is reached. No 2026 grid had been published when this table was reviewed.
Does London, Ontario have a municipal land transfer tax?
No. London buyers pay only the Ontario provincial land transfer tax, with no municipal surcharge. On a $650,000 home the provincial LTT is roughly $9,500 before the first-time buyer rebate.
Is London a good market for resident physicians to buy?
Yes. Western University and LHSC anchor a large resident population, prices are attainable, and projected-income qualification makes buying during training practical, with many physicians staying on as attendings.
