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. 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.
So, what can move-up buyers do when a condo is too small, but the price of a house is far too large?
Toronto townhouses are emerging as a great option for buyers, and are still priced within the realm of affordability for many. Check out Zoocasa’s roundup of the top 20 most affordable neighbourhoods in Toronto for townhouses (compiled based on 2016 sold data), and see how much you can expect to pay for low-rise living.
The Top 20 Most Affordable Neighbourhoods in Toronto for Townhouses