What a Townhouse Really Costs Per Month in Stoney Creek and Hamilton
Two townhouses at the same price can cost very different amounts to own. One has a monthly fee and the other does not, and the fee changes which other bills land on you. Comparing on price alone, or on the fee alone, gives the wrong answer.
This guide goes line by line: the mortgage (with worked examples), the monthly fee if there is one, property tax, utilities, insurance and upkeep.
The mortgage
The mortgage is the largest line, and your down payment moves it a long way. The Canadian minimum is 5% of the first $500,000 of the price plus 10% of the amount above that, on homes priced under $1.5 million.
With less than 20% down, you need mortgage default insurance. For a down payment of 5% to 9.99%, CMHC charges a premium of 4.00% of the loan (as of October 2026). It can be added to the mortgage, and then you pay interest on it. Ontario also charges sales tax on the premium, and our closing costs guide explains that.
The three prices in this table are illustrations, not market averages. They assume a 4.5% five-year fixed rate (a round figure used for illustration and checked in early October 2026; check current rates) and a 25-year amortization. The minimum-down column has the 4.00% premium added to the mortgage.
| Townhouse price | Minimum down payment | Monthly payment with minimum down | Monthly payment with 20% down |
|---|---|---|---|
| $600,000 | $35,000 | About $3,250 | About $2,655 |
| $700,000 | $45,000 | About $3,770 | About $3,100 |
| $800,000 | $55,000 | About $4,290 | About $3,540 |
In these examples, the minimum down payment adds roughly $600 to $750 to the payment every month. Both columns use one rate for simplicity, though lenders often price insured and uninsured mortgages differently. Try your own numbers in our mortgage calculators.
The monthly fee, if there is one
How the townhouse is owned decides if there is a fee. Our guide to freehold, condo and common-element townhouses explains the three types.
- Freehold townhouse. No monthly fee.
- Condo townhouse. A monthly condo fee, paid to the condominium corporation.
- Freehold townhouse on a private road. There may be a common-element fee, sometimes called a road fee, for the shared road and other shared elements.
The listing shows the fee and what it includes. A fee replaces costs you would otherwise pay yourself, which can include snow clearing, lawn care, building insurance and savings toward major repairs. So compare the total monthly cost of two townhouses, not the two fees. Our guide to what condo fees cover has more.
Property tax
The City of Hamilton sends the property tax bill. It takes the assessed value that the Municipal Property Assessment Corporation (MPAC) gives the home and multiplies it by the municipal and education tax rates. That assessed value is not the purchase price. For the 2026 tax year, Ontario assessments are still based on values as of January 1, 2016.
There is nothing to estimate. The listing gives the actual annual tax for that address. Divide it by twelve.
Utilities
In most townhouses you pay the utilities yourself. In some condo townhouses one or more are included in the fee, so check before you count a bill twice.
- Natural gas. Hamilton's gas distributor is Enbridge Gas.
- Electricity. Alectra Utilities delivers power in Stoney Creek and most of urban Hamilton.
- Water, wastewater and stormwater. These are billed by the City's Hamilton Utilities Billing, which took over from Alectra in April 2026.
Ask the seller for a year of bills. Rental equipment, such as a water heater, adds a monthly bill, so look for it in the listing.
Insurance
The law does not require home insurance, but most mortgage lenders do. With a freehold townhouse, the building is yours to insure, along with your contents. With a condo townhouse, the corporation insures the building as its declaration and by-laws define it, and you insure your unit's improvements and your contents. An insurance broker confirms what the corporation's policy leaves to you.
Upkeep and replacement
On a freehold townhouse, you are the reserve fund. The roof, windows, furnace and driveway are yours to repair and replace. The jobs are usually smaller than on a detached house, but they are still yours.
On a condo townhouse, some of that work is paid through the fee and the corporation's reserve fund. Which parts depends on the declaration. If the money falls short, owners can be charged a special assessment on top of the fee. Our guide to reserve funds and special assessments explains what to check.
Putting it together
For each townhouse on your shortlist, add up the lines: the mortgage payment, the monthly fee if any, property tax, utilities, insurance and an allowance for upkeep. Then compare the totals.
Lenders apply their own check. Federally regulated lenders, such as banks, must confirm you could carry the payments at 5.25% or your contract rate plus two percentage points, whichever is higher (as of October 2026). At a 4.5% rate, that means qualifying at 6.5%. It is a lender's minimum, not a household budget. A mortgage broker or lender confirms what you qualify for.
Who should be careful with these numbers
- Buyers comparing a no-fee freehold with a condo townhouse on price alone. The lower list price can be the more expensive home to own once the fee, or the upkeep you fund yourself, is counted.
- Buyers at the minimum down payment with no cushion. A higher rate at renewal, a fee increase, a special assessment or a failed furnace all land on the same budget.
If the total only works when nothing goes wrong, that townhouse is not right for your budget yet.
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Frequently Asked Questions
Do freehold townhouses have monthly fees in Ontario?
A freehold townhouse has no condo fee. One on a private road may have a common-element fee for the shared road, so check the listing.
What is the minimum down payment on a townhouse in Ontario?
It is 5% of the first $500,000 plus 10% of the amount above that, for homes under $1.5 million. On a $700,000 townhouse, that is $45,000.
Are utilities included in townhouse condo fees?
Sometimes. Most townhouse owners pay their own utilities, but some condo townhouse fees include one or more. The listing shows what is included.
How much is property tax on a townhouse in Hamilton?
The bill comes from the MPAC assessed value and that year's tax rates. The listing shows the actual annual amount, so use that.
Do I need my own insurance on a condo townhouse?
In practice, yes. The corporation's policy does not cover your improvements or your contents, and most mortgage lenders require you to have a policy.
Want to add up the monthly cost of a specific townhouse? Get in touch and we will go through it with you.
This guide is general information, not mortgage, tax, insurance or legal advice. Rates, premiums, fees and rules change, so confirm your own numbers with a mortgage broker or lender.