Where to find the cheapest homes in the GTA and southern Ontario

With inflation, finding an affordable home in southern Ontario can be a challenge.

Now that interest rates have come down, however, some people may take the leap into homeownership.

Whether you’re searching for a detached home, a semi-detached townhouse, or a condo apartment, there are still pockets of affordability waiting to be discovered, real estate brokerage Zoocasa said in a new report.

Detached homes across the GTA average a hefty $1,369,132, the report noted. Brampton’s average detached home price was $1,016,260 in November, while in Mississauga was at $1,425,730.

Those looking for a more affordable option need to move farther out. Zoocasa found the cheapest area near the GTA was Essa, a township near Barrie and about 100 kilometres north of Toronto.

“Essa offers small-town charm while still being accessible to the city—perfect for day trips or weekend getaways,” Zoocasa noted.

Essa’s average price of $709,583 is nearly half the cost, 48.2 per cent, less than the GTA.

Other areas with cheaper detached homes include Durham Region’s Brock Township at $715,389 and Oshawa at $859,463, and Georgina, southeast of Barrie, at $829,767.

Even more affordable options are available outside of the single-detached home market.

In the semi-detached home market, Durham Region may be the place to look.

Pickering’s average semi-detached home price of $660,778 represents a solid 30.9 per cent savings compared to the GTA average of $956,789. Oshawa’s average price is also $660,778. Essa is a close second at $675,000 and New Tecumseth, just north of Vaughan, is $764,251.

For townhouse buyers, Essa continues to deliver value. With an average price of $631,950, buyers save 29 per cent compared to the GTA’s townhouse average of $889,199. Orangeville at $717,000, New Tecumseth at $727,500, and Oshawa at $802,000 also offer lower prices.

Those in the market for a condo can find cheaper options, even in Toronto.

The most budget-friendly option for condos is Orangeville where the average price of just $388,000, representing a significant 39.1 per cent savings compared to the GTA average of $637,390.

Oshawa’s condo average is $424,181, Clarington is $512,600, and New Tecumseth is $567,000.

In Toronto, the average price of a condo apartment is $713,364, but a few neighbourhoods still offer more affordable options.

West Hill and Centennial Scarborough stand out with an average price of $426,167—a full 40 per cent lower than the citywide average, the report notes. Similarly, Dorset Park and Kennedy Park in addition to Black Creek and York University Heights, provide notable savings, with prices at $506,200 and $508,478, respectively—29 per cent below the Toronto average.

See the full report from Zoocasa here.

Lead photo of Cannington (Brock Township): Google Maps