These are the 10 most affordable towns and cities in Ontario

With the average home price in the GTA sitting at $1,165,691 as of May, many prospective homeowners have begun eyeing real estate in towns and cities as far away as Edmonton and Thunder Bay.

However, while homes in other parts of Canada might be more affordable, a new report by real estate company Zolo suggests that Thunder Bay isn’t the only city in Ontario with attractive house prices. 

“For those looking to buy a home in Ontario, it may feel impossible to break into the real estate market at an affordable price. Ontario is Canada’s second-most expensive province after British Columbia with an average home price of $900,161,” the report reads. 

“That being said, expensive cities like Toronto, King, and Oakville tend to overshadow the more affordable Ontario cities.” 

According to the report–which analyzed 97 towns and cities–the ten most affordable cities in Ontario are Nepean, Carleton Place, Kanata, Tillsonberg, Arnprior, Rockland, Paris, Ottawa, Ingersoll and Thunder Bay

The findings show that homebuyers might find more budget-friendly options in the Ottawa region, where half the top 10 most affordable cities are located. In Nepean, the average home price (as of March 2024) sits at $572,388 and the average household income comes in at $137,000. In Carleton Place, the average home price is $555,174 and the average household income is $100,700. 

In Kanata, the average home price is $810,021 and the average household income is $146,600.

Even Ottawa itself is more affordable. According to the report, the average home price in the city is $688,572 and the average household income is $115,300. 

Thunder Bay boasts some of the most affordable homes, with an average home price of $365,000 but an average household income of $87,700. 

Another affordable municipality is Paris. Located northwest of Brantford, Paris–sometimes called the “cobblestone capital of Canada”–offers houses in the $690,000 range. The average household income in the town is $112,900. 

The report says smaller municipalities generally tend to boast less expensive housing, adding that small cities and towns make up 60 per cent of the most affordable cities, with Carleton Place, Tillsonburg, Arnprior, Rockland, Paris, and Ingersoll offering affordable housing prices within commuting distance of a large city.

The municipality with the most affordable housing is Timmins, where the average house price came in at $320,893 in March. 

The report also broke down the most affordable large, medium and small cities, with large cities boasting populations of over 100,000 people. The most affordable ‘big’ cities are Nepean, Kanata and Ottawa. The most affordable mid-sized cities (populations between 30,000 and 100,000) are Thunder Bay, Woodstock and Stratford.

The most affordable small cities are Carleton Place, Tillsonberg and Arnprior.