So you're looking for a property in Toronto? There are so many to choose from! Will it be one of the homes for sale that caught your eye while driving by, or will it be a waterfront condo or a town house you spotted online? For most people, the deciding factor in choosing that neighbourhood to go with is price. To help you decide what neighbourhood will be best suited to your budget, we've created this price comparison page.
In many cases, small single or even double storey homes in outlying neighbourhoods and central Ontario condos are similar in price. The cheapest neighbourhood in Toronto to buy a bungalow is Brampton, where you can buy the average property for $308,000. Compare that to the most expensive neighbourhood, Lawrence Park, which sits at $700,000. Other neighbuorhoods such as Scarborough at $350,000, Woodbridge (home of Fiesta Rentals) at $425,000 and Leaside at $545,000 occupy the middle range. There are almost no small houses left to speak of in downtown Toronto.
While most small, inexpensive downtown homes have been replaced by condominium towers, there remains some detached luxury real estate in Toronto neighbourhoods near the downtown core to cater to the well to do. A mansion home in the Beaches neighbourhood goes for about $1,800,000. But that's not even the most expensive. That honour goes to Midtown Toronto, where the average large home will cost you in excess of $2,200,000. By contrast, the cheapest neighbourhoods to buy mansions in are Woodbridge at $470,000 and Richmond Hill at $495,000.
Condos are becoming increasingly popular as the central neighbourhoods of Toronto become more and more densely populated. A luxury condo on the waterfront costs as much as the more expensive mansion homes, but for a standard condo the average price in the most expensive neighbourhood, Forest Hill, is about $550,000. Those looking for inexpensive condo living should look at Brampton, where the average condo is only $167,000. Average prices for non central outlying neighbourhoods are generally in the high $200,000s to mid $300,000s. Contrary to its reputation as high cost, one of the cheaper places to buy a luxury condo is actually Thornhill, where you can get the average unit for only $298,000.
Townhouses occupy a middle ground between condos and houses, and offer many people the chance to own property in busy areas like Bayview Eglinton without having to live packed into a high rise condo building. The cheapest neighbourhood to buy a town house in is Burlington, where the average property is about $229,000. Central neighbourhoods like Waterfront, the Beaches, and Bloor are in the mid to high $400,000 range and the most expensive neighbourhood for townhouses is Cabbagetown at $575,000.