Affordability is the main driver of the gap. A lower benchmark price relative to income means a larger share of Saskatoon renters can realistically qualify for a mortgage, particularly first-time buyers using the Home Buyers' Plan or an FHSA to assemble a down payment.
Saskatoon's sales activity, at 446 sales and 6.6 percent against the ten-year average, reflects steady rather than overheated demand, which tends to support ownership rates rather than pricing buyers out the way a rapidly appreciating market can.
National comparisons shift with each census release, so the specific gap moves over time even when the underlying affordability advantage persists. Get your hand-reviewed valuation from Joel Dyck.