Homes in Vancouver, Toronto More Than 200% Above What Most People Can Afford

View of the Vancouver, one of the most expensive real estate markets in Canada, in a file photo. Bruce Bennett/Getty Images

Home prices in many Canadian cities, including Vancouver and Toronto, remain out of reach for average-income earners, according to a newly released report.

Mortgage comparison website Rates.ca has found homes in Vancouver cost 249 percent more than most people can afford while homes in Toronto are 210 percent higher.