Most affordable neighbourhoods to buy a home in the Greater Toronto Area

Finding a reasonably-priced home can be a challenge in the Greater Toronto Area.

A new report found some of the cheapest and most expensive neighbourhoods to buy a home.

While experts are predicting a rebound in the real estate market in 2025, the market has been sluggish. In November, the average price of all home types dropped by 8.07 per cent to $994,634 in Mississauga.

The median price for a home in the GTA was $965,000, according to data gathered by real estate brokerage Wahi between Jan. 1 and Nov. 30.

“Early expectations for a rebound in the Greater Toronto Area’s housing market in Spring 2024 didn’t materialize,” the report states.

A chart shows prices hit a peak in 2022, fell and have remained flat through 2024.

While many homes are around the $1 million mark, there are more affordable pockets. One neighbourhood in north Etobicoke, The Elms, has a median sale price under $500,000.

The Queen Street Corridor in Brampton, and Flemington Park, Thorncliffe Park and Bermondsey in Toronto are also on the list.

Of course, there are much more expensive homes to buy in the city. Wahi found the five most expensive neighbourhoods as well.

Unsurprisingly, the most expensive is Toronto's Bridle Path where the median price is nearly $6 million. Two other Toronto neighbourhoods make the list along with two Oakville haunts.

See the full report from Wahi here.