The actual number depends on debt load, the size of the down payment and current interest rates, not income alone. A household with little other debt and the CMHC minimum down payment, 5 percent to $500,000 and 10 percent above, qualifies for materially more than one carrying a car loan or student debt.
Closing costs also factor into what is realistically affordable, generally 4 to 6 percent of the purchase price covering legal fees, adjustments and commission together, so a full budget needs to account for those on top of the down payment itself.
A mortgage broker can turn that income into an exact number faster than any rule of thumb. Get your hand-reviewed valuation from Joel Dyck.