Average sale price, Cambridge, all property types
$701,106As of October 2026.Source
MLS HPI benchmark, Cambridge, change from October 2025
$644,400, down 6.3%As of October 2026.Source
Months of supply, Cambridge
3.3As of October 2026.Source
Population of Cambridge
138,479As of 2021 Census.Source
On this page

With 138,479 residents at the 2021 Census, Cambridge is a Waterloo Region city whose housing figures for October 2026 show a market that is cooling rather than collapsing.

Cambridge values after a 6.3% benchmark drop

As reported by Shaw Realty Group, citing the Cornerstone Association of REALTORS’ October 2026 market update, Cambridge had an average sale price of $701,106, down 3.0% from October 2025. The benchmark price, which is built to follow a typical home and ignores which houses happened to sell, was $644,400. That is down 2.8% from September and down 6.3% from a year ago. Months of supply was 3.3.

The average and the benchmark differ because they measure different things. Use the benchmark to see where the market is going and the average to see what sold. Neither is your appraisal.

Room shrinks faster than prices fall

The ceiling the Financial Consumer Agency of Canada describes is 80% of appraised value minus your mortgage balance. Because it is a share of value, a small fall in value is a bigger fall in room. The second example above is the clearest case: a 6.3% drop took an owner from $40,000 of room to $4,720.

If you are carrying a first mortgage you took on in a higher market, ask for a current valuation before you plan a loan size. The calculator shows how an assumed value changes the answer.

Southwestern Ontario on the watch list

CMHC’s October 2026 release said Ontario arrears reached 0.32% in the second quarter of 2026 and are expected to keep rising through mid-2027, with the pressure concentrated in the Greater Toronto and Hamilton Area and Southwestern Ontario. It tied this to trade tension hitting manufacturing, including automotive, and to labour-market uncertainty.

Cambridge sits within the region that description covers. The release did not name Cambridge. It is context for why lenders are watching shift-based and manufacturing households in the area.

If a payment is the problem

A bigger payment at renewal is the most common reason people look at a second mortgage. CMHC said the largest renewal shock has likely passed, and the pressure now shows up in auto loans, credit cards and lines of credit before it reaches mortgage arrears. If that sounds like you, a renewal with your own lender or a transfer to a new one is the first thing to price. Our renewal page compares those routes with a second mortgage.

If your credit has taken a hit, a lender may still lend against the property. The bad credit page explains what that tends to cost. If a private lender would take your entire first mortgage, see the private first mortgage page.

Fees that weigh on a $60,000 loan

Ontario land transfer tax is charged on purchases. The Ontario page lists the brackets and says we found no such tax for registering a second mortgage. Plan on legal fees, an appraisal, the registration fee and any lender or broker fee. On a $60,000 loan, a few thousand dollars of fees is a large share of what you receive, which is why keeping loans small and short matters.

Ask each lender for a written fee schedule before you pay for an appraisal, so you can compare real totals in dollars rather than headline rates.

Cambridge’s 6.6% in five years

Between the 2016 and 2021 Censuses Cambridge grew 6.6%, from 129,920 to 138,479 residents, and the 2021 Census counted 53,013 private dwellings, of which 51,269 were occupied.

A long record at one employer helps a household. It helps less if your hours have been cut or your employer has laid people off. Whatever your sector, write down your income history for the last two years before you speak to a lender, and size any loan so the payment still works at a lower income.

If you are already behind

If a payment has been missed, speak to your lender and read our arrears page before you borrow more. A lawyer or a Licensed Insolvency Trustee can look at the whole picture without any link to a loan. If you decide a second mortgage is worth pricing, private lenders in Ontario are reached through Level 2 agents and brokers, and the options form is one place to start.

A Cambridge home bought near the October 2026 average

The $701,106 value is the October 2026 average sale price for Cambridge from the Cornerstone update, used as a stand-in for an appraisal. The $480,000 first mortgage and the $60,000 loan are made up. The 80% ceiling is the Financial Consumer Agency of Canada's limit for a second mortgage.

Home value used
$701,106
Equity before the loan
$221,106

$701,106 minus $480,000

80% of the home value
$560,885

$701,106 x 0.8

Combined loan-to-value with a $60,000 loan
77.0%

$540,000 divided by $701,106

Room under an 80% ceiling before the loan
$80,885

Equity of $221,106 looks large, but room is $80,885, and a $60,000 loan leaves only $20,885. Little cushion is left if a lender values the home lower.

Illustration only. The figures are made up to show the arithmetic. They are not a quote, a rate or an offer.

A Cambridge home when the market benchmark falls 6.3%

All figures are made up except the 6.3% year-over-year fall in the Cambridge benchmark price, from the Cornerstone October 2026 update. Applying a market-wide fall to one home is only a rough guide. The home was appraised at $700,000 a year ago and the first mortgage is $520,000.

Value a year ago
$700,000
Room under 80% a year ago
$40,000

$560,000 minus $520,000

Value after a 6.3% fall
$655,900

$700,000 x 0.937

80% of the lower value
$524,720
Room under 80% now
$4,720

A fall of $44,100 in value turned $40,000 of room into $4,720. If you are planning to borrow against your home, an updated value matters more than last year's.

Illustration only. The figures are made up to show the arithmetic. They are not a quote, a rate or an offer.

Questions people ask

Why did my Cambridge home appraisal come in lower than last year?

Cornerstone's October 2026 figures show the Cambridge benchmark price down 6.3% from October 2025. An appraiser works from recent comparable sales, so a falling market can pull a valuation down even if nothing about your home changed.

Does CMHC's arrears warning name Cambridge?

No. CMHC's October 2026 release puts the arrears pressure in the Greater Toronto and Hamilton Area and Southwestern Ontario, and links it to trade tension hitting auto and other manufacturing, but it names no city. Lenders look at your property and income.

Is 3.3 months of supply in Cambridge good or bad for an owner?

Cornerstone reported 3.3 months of supply in Cambridge in October 2026. It means that at the current pace of sales, the homes listed would take about three months to sell. Lower numbers suggest an easier resale, which a private lender may weigh.

Will working shifts or in a plant stop me borrowing on a Cambridge home?

Yes, income type alone does not rule it out. Lenders ask for proof of how you are paid and for how long. Overtime and shift premiums may be counted differently by banks and private lenders, so ask each what documents they accept.

What if my Cambridge mortgage renewal is at a higher payment?

Ask your current lender for a renewal offer first, and compare a transfer to another lender. CMHC said in October 2026 that the largest renewal shock has likely passed, though your own payment can still rise. A second mortgage is the costlier fix.

Nearby cities

Keep reading

Sources