How Much House Can You Actually Afford in Langley or Surrey in 2025?

How Much House Can You Actually Afford in Langley or Surrey in 2025

Let’s be real — home prices in the Fraser Valley have come a long way from where they were just a few years ago. Whether you’re a first-time buyer, upsizing, or moving to Langley for a better lifestyle, the big question on everyone’s mind is:

“What can I actually afford right now in Surrey or Langley?”

As a local Surrey Realtor and Langley Realtor, I get this question daily — and the truth is, your buying power in 2025 depends on more than just interest rates. It’s also about location, property type, and smart strategy.

So, let’s break it all down — with real stats, real examples, and what kind of home your money gets you today in both Surrey and Langley.

💰 Average Home Prices in Surrey and Langley (July 2025)

Here’s a quick snapshot of the latest average sale prices as reported by the Fraser Valley Real Estate Board (FVREB):

🏡 Detached Homes

• Surrey (All areas): $1,521,000

• Langley (All areas): $1,441,000

🏘️ Townhomes

• Surrey: $946,000

• Langley: $919,000

🏢 Condos

• Surrey: $625,000

• Langley: $582,000

(Source: FVREB Market Stats, July 2025)

If you're shopping with a budget under $1M, that still opens the door to townhomes and newer condos in excellent areas like Willoughby, Clayton Heights, or even Cloverdale — especially if you're open to a 3-bed townhouse or 2-bed condo.

🧠 What Impacts What You Can Afford?

A lot of buyers jump into the MLS hoping for a steal, but here’s what really determines what you can afford:

1. Down Payment

• Minimum of 5% for homes under $500K

• 10% required for portion above $500K

• 20%+ avoids CMHC insurance

Example: On a $900,000 townhome in Clayton Heights, you’d need:

• $65,000 minimum (7.2% blended) down payment

• Roughly $5,000 in closing costs

• Mortgage of ~$835,000

2. Interest Rates

As of July 2025, the 5-year fixed rate hovers around 4.79%, depending on the lender.

With today’s rates:

• $900K purchase = ~$4,400/month

• $700K condo = ~$3,400/month
  (Assumes 10% down, 25-year amortization)

Talk to your mortgage broker for precise numbers — but these ballparks are pretty close.

3. Strata Fees or Maintenance

Don’t forget:

• Strata fees for townhomes average $350–$480/month

• Condos can range from $280–$550/month depending on amenities

• Detached homes? You’re on your own for maintenance — and insurance tends to be higher

🏘️ What Can You Buy in Key Neighborhoods?

Let’s get hyper-local. As your Langley Realtor and Surrey Realtor, here’s what different budgets actually get you in some of the hottest neighborhoods right now:

🟦 Willoughby Heights (Langley)

• $899,000 – $999,000: 3-bed, 3-bath townhomes, 5–10 years old, double garage

• $1.4M+: 4–5 bed detached homes with yard, close to schools like R.E. Mountain Secondary (IB program)

🟩 Clayton Heights (Surrey)

• $850,000 – $950,000: Modern 3-bed townhomes with private yard and garage

• $1.5M+: Detached homes with rental suites, walkable to future SkyTrain station

🟨 Murrayville (Langley)

• $750,000 – $850,000: 2-bed condos or smaller townhomes in mature, quiet communities

• $1.3M – $1.5M: Beautiful ranchers or family homes with large lots near hospital & parks

🟥 Cloverdale (Surrey)

• $899,000 – $999,000: Spacious townhomes with low strata fees

• $1.6M – $1.8M: 2-storey family homes with basements and suite potential

💼 First-Time Buyer Tip: Look Slightly Outside the Core

If your budget is tight, consider Langley City, Aldergrove, or even Brookswood.

These areas still offer:

• Detached homes under $1.3M

• Newer condos from the mid-$500Ks

• Family-friendly parks, schools, and increasing walkability

And guess what? The SkyTrain expansion to 203 Street in Langley is already increasing demand — especially among commuters and investors looking to beat the next wave of price hikes.

📊 Assessed Value ≠ Market Value

This is a common myth.

Your BC Assessment value is based on July 1 of the previous year — and in a shifting market, it can be way off.

We’ve seen homes in Clayton and Willoughby sell for 10–15% above assessed value this summer due to low inventory and pent-up demand.

So if you’re relying on assessment alone to gauge affordability — let’s chat. I’ll pull sold comparables, current listings, and get you a clear picture.

🛑 The Most Common Mistakes Buyers Make

Don’t let sticker shock or FOMO make you miss a great opportunity. Here's what to avoid:

❌ Buying more house than you can comfortably afford

❌ Ignoring pre-inspection or strata documents

❌ Assuming condos = cheap (fees + interest add up!)

❌ Waiting for the “perfect” interest rate

A good Surrey Realtor or Langley Realtor will walk you through every number so you feel confident and clear.

Final Thoughts from a Local Surrey & Langley Realtor

If you’ve been wondering how much home you can actually afford in Surrey or Langley, the honest answer is: a lot more than you might think — if you get clear on your numbers and start early.

There are still homes for sale in Surrey and Langley that check all the boxes — you just need a plan, a strategy, and a Realtor who’s willing to hustle with you.

📥 Want to learn more?

Download my FREE Surrey & Langley relocation guide. It includes:

• Neighborhood breakdowns

• Best schools

• Commute tips

• Buyer traps to avoid
  👉 Just click here or message me for a copy!