Owning a home in close proximity to a transit line is certainly a convenience – and it can also command a pretty premium on its sale price. After all, there’s a reason the phrase “steps from transit” it typically prominently placed on most listings for homes for sale.
Whether or not a home is within walking distance to the closest subway or Light Rail Transit stop is a top consideration for Toronto home buyers who lead a pedestrian lifestyle, or simply wish to leave the car at home on their commute. But how much would you need to shell out to live by the most convenient TTC stops?
To find out, Zoocasa collected the average 2018 sold prices for houses and condos within 800 metres (roughly a 10-minute walk) of all 75 TTC subway and LRT stations. Sold prices were sourced from the Toronto Real Estate Board for the period between January 1 and December 31, 2018.
East End Stops Offer Most Affordability
Those looking for a deal on a house will find it along the Scarborough LRT route, with Ellesmere, Midland, and Lawrence East stations ranking as the three most affordable for nearby real estate with average prices all below the $740,000-mark.
Stations along Line 1, which runs north-south through the centre of the city, will pay the most for a nearby house; homes near York Mills Station cost an average of $3,426,000, followed by Museum at $3,002,150, and Summerhill at $2,932,837.
The best deals on condos can also be found along stops in the east end, with the least expensive by Kennedy station (Lines 2 and 3) at an average of $329,530, Lawrence East LRT at $364,656, and Ellesmere LRT at $382,752. However, those looking to be more central can also find deals among condos for sale in North York, with units close to Sheppard-Yonge costing an average of $596,196, and $620,525 close to North York Centre, or to the west; condos for sale in Etobicoke, such as those close to Islington Station, go for an average of $557,835.
The priciest multi-family homes along the TTC line can be found in Summerhill, where a unit will fetch an average of $1,242,618, Rosedale at $1,172,898, and St. George, at $1,141,827.
Check out the infographic below to see how friendly your closest TTC station is on the wallet:
The 5 Most Affordable TTC Stops for Houses
1 – Ellesmere (Line 3): $708,489
2 – Midland (Line 3): $716,813
3 – Lawrence East (Line 3): $725,813
4 – Finch West (Line 1): $741,891
5 – McCowan (Line 3): $761,074
The 5 Least Affordable TTC Stops for Houses
1 – York Mills (Line 1): $3,426,020
2 – Museum (Line 1): $3,002,150
3 – Summerhill (Line 1): $2,932,837
4 – St. Clair (Line 1): $2,888,106
5 – Sherbourne (Line 2): $2,870,130
The 5 Most Affordable TTC Stops for Condos
1 – Kennedy (Lines 2 & 3): $329,530
2 – Lawrence East (Line 3): $364,656
3 – Ellesmere (Line 3): $382,752
4 – Victoria Park (Line 2): $388,953
5 – McCowan (Line 3): $420,572
The 5 Least Affordable TTC Stops for Condos
1 – Summerhill (Line 1): $1,242,618
2 – Rosedale (Line 1): $1,172,898
3 – St. George (Lines 1 & 2): $1,141,827
4 – St. Clair West (Line 1): $1,090,897
5 – St. Clair (Line 1): $1,078,285
Methodology
Sold prices of individual properties were sourced from the Toronto Real Estate Board from January 1, 2018 to December 31, 2018. Sold condo prices includes sold condo apartments and condo townhouses. Sold house prices includes sold detached, semi-detached and attached houses. The boundary used for sold listings was a 800m radius from each subway stop. All calculations by Zoocasa.
Please note:
- An earlier version of this post referred incorrectly to “a detached house” on the Scarborough LRT line and was updated to reference “a house” in keeping with the property type categorization used in our analysis
- For stations with fewer than 3 sold listings for each property type, the accompanying infographic was updated to indicate “no sales.”
About Zoocasa
Zoocasa.com is a real estate website and brokerage that provides advanced online search tools and data to empower Canadians to buy or sell their homes faster, easier and more successfully. Home buyers can browse real estate listings on the website or the free iOS app.
For more information about this report or to set up a media interview, please email communications@zoocasa.com.
