Canada's Condominium Magazine

Toronto and GTA communities with lowest average home price; With average TREB home price at $793,915 where are the affordable neighborhoods?

There are still “relative” bargains to be had for potential home buyers. For Condos, some neighbourhoods of Toronto West and Toronto East, Brampton and Orangeville are all in bargain territory.

Although many buyers pay premiums for prime locations based on amenities, schools, neighbourhoods and transit, increasingly buyers are looking for up-and-coming neighbourhoods with better values.

Using June “average” numbers from the Toronto Real Estate Board — which does not take into account differences in size — we’ve plucked out a list of the “lower” average priced neighbourhoods in the City of Toronto, and separately for the Greater Toronto Area. This list is also only representative of resale properties, not new or pre-construction homes.

Although buyers will research other factors, the average at least will give an indication of the areas with relative bargains to be had. We choose and arbitrary psychological barrier of

  • $600,000 maximum for “all home types” average
  • $450,000 maximum for “condominium” average
  • As a comparable, bear in mind, the average overall price for all regions is $793,915 (combined regions and home types)

 

 

City of Toronto

In the actual city of Toronto, the lower averages — our cut off was the psychological $600,000 valuation — are found in tight areas of East (E) and West (W). In Central (C), the lows are in the low $600s and missed our arbitrary ceiling.

Note: See map for locations.

Overall average for all home types: $793,915

  • Toronto West W10 $488,251
  • Toronto West W05 $559,543
  • Toronto East E07 $560,963
  • Toronto East E09 $530,000
  • Toronto East E11 $492,500

GTA Area: All Home Types

If we widen the parameters to all areas around Toronto, only a couple communities in Durham Region make it under the average $600,000 cap:

  •  Brock in Durham Region $531,808
  • Oshawa in Durham Region $562,217

Condominium Apartments in Toronto

In the overall GTA, the average for condominium apartments is $518,784. Using a lower maximum cap to illustrate affordable neighbourhoods (refer to map), here are condominium neighbourhoods right in the city, with the average resale price under $450,000:

Average City of Toronto price: $552,679 for condominiums.

  • Toronto West W03 $413,714
  • Toronto West W04 $336,772
  • Toronto West W05 $362,772
  • Toronto West W09 $340,337
  • Toronto West W10 $288,879
  • Toronto Central C11 $380,439
  • Toronto East E03 $317,838
  • Toronto East E04 $323,414
  • Toronto East E05 $436,143
  • Toronto East E07 $368,395
  • Toronto East E08 $329,964
  • Toronto East E09 $398,057
  • Toronto East E10 $251,600
  • Toronto East E11 $324,314

 

Toronto map of areas referenced in Condo.ca’s analysis of “affordable” neighborhoods.

 

Condominium Apartments in GTA Area

In the overall GTA (see map below), the average for condominium apartments is $518,784.  Using a lower maximum cap to illustrate affordable neighbourhoods, here are condominium neighbourhoods in the wider GTA, with the average resale price under $450,000:

 

Condo’ca pull of “affordable” condos in the Greater Toronto Area, defined as Condos under $450,00 in average price as of July, 2017.

 

  • Orangeville in Dufferin County $232,000
  • Toronto East $380,312
  • Brampton in Peel Region $354,416
  • Mississauga in Peel Region $407,021
  • (Toronto West misses slightly at $462,214)
  • Burlington in Halton Region $442,497
  • Milton in Halton Region $428,279
  • King in York Region $370,000
  • Newmarket in York Region $430,000
  • Ajax in Durham Region $411,091
  • Durham Region (as a whole) $367,200
  • Bradford West in Simcoe County $295,000
  • New Tecumseth in Simcoe County $298,000

 

The widest “GTA” Greater Toronto Area TREB map.
Via-Bloor-Tridel
Auberge on the Park-Tridel
Bianca-Tridel-Annex

SHARE WITH US

Subscribe to condo.ca

@ 2017 condo.ca  |  Designed by Persona Corp