What a home costs in St. John's, what you pay to close, and how much a physician program lets you buy.
Benchmark price for St. John's, July 2026, from the CREA MLS Home Price Index, St. John's, NL area, as published in the LSTAR July 2026 release. St. John's city area, not the province-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.
Newfoundland and Labrador does not levy a conventional land transfer tax. Instead a registration of deeds fee applies, typically a small base amount plus a per-thousand charge on value above a threshold, so total registration costs are a fraction of Ontario or BC land transfer tax.
Sources: Newfoundland and Labrador Registry of Deeds, fee schedule. 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.
PARNL, PARNL agreement, schedule A (NL Treasury Board), in effect from July 2023. The most out-of-date grid in Canada. No newer agreement is listed by the province. Treat these figures as a floor.
Does St. John's have a land transfer tax?
Newfoundland and Labrador does not charge a conventional land transfer tax. Only a modest registration of deeds fee applies, so closing costs are far lower than Ontario or BC.
Is St. John's affordable for physicians?
Yes. St. John's is among the most affordable physician markets in Canada, with a July 2026 benchmark price of $427,800, no conventional land transfer tax, and Memorial University anchoring academic medicine.
