Finding affordable homes in a hot market

by Justin da Rosa13 Feb 2017
Many would-be buyers have been priced out of Canada’s hottest market, but there are still options in sought-after neighbourhoods, according to one brokerage.

While single-family homes in Toronto may no longer be possible for many potential homeowners, the city still offers great value in the form of town homes according to online brokerage, which crunched the numbers on the most affordability neighbourhoods for those types of homes.

“Toronto is forecasted to be the hottest housing market in Canada in 2017 – and with the average detached house price hitting over $1.3 million in January, affordability is increasingly out of reach for the average home seeker,” Zoocasa said in its report, entitled Townhouses – The Top 20 Most Affordable Neighbourhoods in Toronto. “And, considering census numbers reveal the median Toronto household earns $76,219 – equalling a maximum affordability of $636,886 – the average buyer falls hundreds of thousands of dollars short of realizing their detached home dreams.”

The brokerage crunched the numbers and determined the top 20 affordable ‘hoods for town homes. Check the handy infographic it put together below.

Note: If you have trouble viewing the infographic, click here.

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