{"id":24681,"date":"2023-10-16T06:00:00","date_gmt":"2023-10-16T10:00:00","guid":{"rendered":"https:\/\/www.zoocasa.com\/blog\/?p=24681"},"modified":"2023-10-24T14:27:56","modified_gmt":"2023-10-24T18:27:56","slug":"toronto-detached-homes-below-the-average-oct-2023","status":"publish","type":"post","link":"https:\/\/www.zoocasa.com\/blog\/toronto-detached-homes-below-the-average-oct-2023\/","title":{"rendered":"Where Can You Buy a Detached Home in Toronto for Less than the Average Price?"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">The <a href=\"https:\/\/www.zoocasa.com\/toronto-on-real-estate\" target=\"_blank\" rel=\"noreferrer noopener\">Toronto<\/a> housing market is currently cooling off as buyers wait to see what happens in the next Bank of Canada interest rate announcement. As a result, home <a href=\"https:\/\/www.zoocasa.com\/blog\/trreb-sept-2023\/\" target=\"_blank\" rel=\"noreferrer noopener\">sales slowed down in September<\/a>, with detached home sales in particular dropping by 5.1% from August.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Despite competition slowing down and inventory propping up, detached home prices are still growing and the City of Toronto&#8217;s average detached home price increased month-over-month by 5.4% to $1,724,007 in September. But this doesn\u2019t mean motivated buyers can\u2019t find a deal in the city. The majority of neighbourhoods in Toronto actually have detached home prices below the city\u2019s average, and one neighbourhood even has detached homes for under $1,000,000.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong><em>Enjoying our content? Subscribe to our free <\/em><\/strong><a href=\"http:\/\/zoocasa.com\/newsletter\" target=\"_blank\" rel=\"noreferrer noopener\"><strong><em>weekly newsletter<\/em><\/strong><\/a><strong><em> to get real estate market insights, news, and reports straight to your inbox.<\/em><\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In order to discover the best pockets of affordability in Toronto, we analyzed the average detached home price in each Toronto neighbourhood and compared it to the city average.&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"600\" height=\"1443\" src=\"https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2023\/10\/Template.png\" alt=\"\" class=\"wp-image-24684\" srcset=\"https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2023\/10\/Template.png 600w, https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2023\/10\/Template-125x300.png 125w, https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2023\/10\/Template-426x1024.png 426w, https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2023\/10\/Template-768x1847.png 768w, https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2023\/10\/Template-639x1536.png 639w, https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2023\/10\/Template-852x2048.png 852w\" sizes=\"auto, (max-width: 600px) 100vw, 600px\" \/><\/figure>\n\n\n\n<h1 class=\"wp-block-heading\">18 out of 35 Neighbourhoods Have Detached Home Prices Below the City\u2019s Average<\/h1>\n\n\n\n<p class=\"wp-block-paragraph\">Unsurprisingly, home prices outside of the city center are much more affordable than in the central downtown areas, with the most affordable neighbourhood\u2019s average detached home price almost half the City of Toronto average. The most affordable neighbourhood, W10 (<a href=\"https:\/\/www.zoocasa.com\/toronto-on-real-estate\/rexdale\" target=\"_blank\" rel=\"noreferrer noopener\">Rexdale-Kipling, West Humber-Claireville<\/a>), has an average detached home price of $962,389 &#8211; $761,618 less than the City of Toronto average.&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Read: <\/strong><a href=\"https:\/\/www.zoocasa.com\/blog\/homes-selling-under-list-price-gta-2023\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Homes are Selling Below Listing Price Across the GTA &#8211; Here\u2019s by How Much<\/strong><\/a><\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">Seven other neighbourhoods, all located to the far east and west of downtown Toronto, have an average detached home price of more than $500,000 less than Toronto\u2019s average. W03 (<a href=\"https:\/\/www.zoocasa.com\/toronto-on-real-estate\/smythe-park\" target=\"_blank\" rel=\"noreferrer noopener\">Rockcliffe-Smythe, Keelesdale-Eglinton<\/a>) and E11 (<a href=\"https:\/\/www.zoocasa.com\/toronto-on-real-estate\/malvern\" target=\"_blank\" rel=\"noreferrer noopener\">Malvern, Rouge<\/a>) are the second and third most affordable neighbourhoods, with average detached home prices of just over $1,000,000 each.&nbsp;<\/p>\n\n\n\n<h1 class=\"wp-block-heading\">Huge Disparity Between the Most Affordable and Most Expensive Toronto Neighbourhoods<\/h1>\n\n\n\n<p class=\"wp-block-paragraph\">There are 17 neighbourhoods in Toronto with an average detached home price higher than the Toronto average, but the price gap between these neighbourhoods is dramatically different. The top 4 most expensive neighbourhoods are all more than $1,000,000 more expensive than the Toronto average, while the rest largely have less than a $600,000 difference with the Toronto average.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Not surprisingly, the most expensive neighbourhood in Toronto for a detached home is the prestigious C12 (<a href=\"https:\/\/www.zoocasa.com\/search\" target=\"_blank\" rel=\"noreferrer noopener\">York Mills, Bridle Path, Hoggs Hollow<\/a>), where the average price is a staggering $4,584,077 &#8211; more than $2,000,000 higher than the city\u2019s average. The second most expensive neighbourhood, C09 (<a href=\"https:\/\/www.zoocasa.com\/toronto-on-real-estate\/rosedale\" target=\"_blank\" rel=\"noreferrer noopener\">Rosedale, Moore Park<\/a>) also has an average price of more than $4,000,000 and a more than $2,000,000 price difference from the Toronto average.&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Read: <\/strong><a href=\"https:\/\/www.zoocasa.com\/blog\/trreb-sept-2023\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Toronto Region\u2019s Sales Down as Buyers Grapple with Uncertain Economic Conditions: TRREB<\/strong><\/a><\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">Of the more expensive neighbourhoods, E01 (<a href=\"https:\/\/www.zoocasa.com\/toronto-on-real-estate\/leslieville\" target=\"_blank\" rel=\"noreferrer noopener\">Leslieville, Riverside, Little India<\/a>) is the most affordable with an average price of just $5,793 more than the Toronto average. This suggests buyers might have an easier time finding a less expensive detached home here.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Comparing the most expensive with the least expensive reveals an even greater disparity. The most expensive neighbourhood, C12 (York Mills, Bridle Path, Hoggs Hollow) is more than $3,600,000 more expensive than the least expensive neighbourhood W10 (Rexdale-Kipling, West Humber-Claireville).&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">For buyers looking to live in Toronto, this means searching in the right neighbourhoods for your budget is crucial. Working with a realtor familiar with the local market can help you better navigate the real estate market. <a href=\"https:\/\/www.zoocasa.com\/buy-with-zoocasa\" target=\"_blank\" rel=\"noreferrer noopener\">Give us a call today<\/a> to talk with one of our experienced agents about your real estate goals!<\/p>\n\n\n<div class=\"cta\">\n<div class=\"cta-left\">\n<div class=\"cta-title\">Looking in Toronto?<\/div>\n<div class=\"cta-body\">Contact us today to speak to a Realtor in your area<\/div>\n<\/div>\n<div class=\"cta-right\"><a href=\"https:\/\/www.zoocasa.com\/sell-with-zoocasa\"><button class=\"cta-button\">Talk To Our Experts<\/button><\/a><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The Toronto housing market is currently cooling off as buyers wait to see what happens in the next Bank of Canada interest rate announcement. As a result, home sales slowed down in September, with detached home sales in particular dropping by 5.1% from August.&nbsp; Despite competition slowing down and inventory propping up, detached home prices [&hellip;]<\/p>\n","protected":false},"author":132,"featured_media":24683,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":{"subtitle":"","format":"standard","video":"","gallery":"","source_name":"","source_url":"","via_name":"","via_url":"","override_template":"0","override":[{"template":"1","single_blog_custom":"","parallax":"1","fullscreen":"1","layout":"right-sidebar","sidebar":"default-sidebar","second_sidebar":"default-sidebar","sticky_sidebar":"1","share_position":"top","share_float_style":"share-monocrhome","show_share_counter":"0","show_view_counter":"0","show_featured":"1","show_post_meta":"1","show_post_author":"1","show_post_author_image":"1","show_post_date":"1","post_date_format":"default","post_date_format_custom":"Y\/m\/d","show_post_category":"1","show_post_reading_time":"1","post_reading_time_wpm":"300","show_zoom_button":"0","zoom_button_out_step":"2","zoom_button_in_step":"3","show_post_tag":"0","show_prev_next_post":"1","show_popup_post":"0","number_popup_post":"1","show_author_box":"1","show_post_related":"1","show_inline_post_related":"0"}],"override_image_size":"0","image_override":[{"single_post_thumbnail_size":"crop-500","single_post_gallery_size":"crop-500"}],"trending_post":"0","trending_post_position":"meta","trending_post_label":"Trending","sponsored_post":"0","sponsored_post_label":"Sponsored by","sponsored_post_name":"","sponsored_post_url":"","sponsored_post_logo_enable":"0","sponsored_post_logo":"","sponsored_post_desc":"","disable_ad":"0"},"jnews_primary_category":{"id":"","hide":""},"footnotes":""},"categories":[1160,181],"tags":[],"class_list":["post-24681","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-insights","category-toronto-real-estate"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Where Can You Buy a Detached Home in Toronto for Less than the Average Price? | Zoocasa Blog<\/title>\n<meta name=\"description\" content=\"Wondering where you can find an affordable detached home in Toronto? We analyzed the detached home prices in each neighbourhood in Toronto in order to find the most affordable neighbourhoods to buy in. Check out the complete list!\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zoocasa.com\/blog\/toronto-detached-homes-below-the-average-oct-2023\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Where Can You Buy a Detached Home in Toronto for Less than the Average Price? | Zoocasa Blog\" \/>\n<meta property=\"og:description\" content=\"Wondering where you can find an affordable detached home in Toronto? We analyzed the detached home prices in each neighbourhood in Toronto in order to find the most affordable neighbourhoods to buy in. Check out the complete list!\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zoocasa.com\/blog\/toronto-detached-homes-below-the-average-oct-2023\/\" \/>\n<meta property=\"og:site_name\" content=\"Zoocasa Blog\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Zoocasa\" \/>\n<meta property=\"article:published_time\" content=\"2023-10-16T10:00:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-10-24T18:27:56+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2023\/10\/Blog-x-Social-Images-93.png\" \/>\n\t<meta property=\"og:image:width\" content=\"600\" \/>\n\t<meta property=\"og:image:height\" content=\"338\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Mackenzie Scibetta\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2023\/10\/Blog-x-Social-Images-93.png\" \/>\n<meta name=\"twitter:creator\" content=\"@Zoocasa\" \/>\n<meta name=\"twitter:site\" content=\"@Zoocasa\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Mackenzie Scibetta\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.zoocasa.com\/blog\/toronto-detached-homes-below-the-average-oct-2023\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.zoocasa.com\/blog\/toronto-detached-homes-below-the-average-oct-2023\/\"},\"author\":{\"name\":\"Mackenzie Scibetta\",\"@id\":\"https:\/\/www.zoocasa.com\/blog\/#\/schema\/person\/f94c43a0733031723a673cfb21916c34\"},\"headline\":\"Where Can You Buy a Detached Home in Toronto for Less than the Average Price?\",\"datePublished\":\"2023-10-16T10:00:00+00:00\",\"dateModified\":\"2023-10-24T18:27:56+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.zoocasa.com\/blog\/toronto-detached-homes-below-the-average-oct-2023\/\"},\"wordCount\":621,\"publisher\":{\"@id\":\"https:\/\/www.zoocasa.com\/blog\/#organization\"},\"articleSection\":[\"Market Insights\",\"Toronto Real Estate\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.zoocasa.com\/blog\/toronto-detached-homes-below-the-average-oct-2023\/\",\"url\":\"https:\/\/www.zoocasa.com\/blog\/toronto-detached-homes-below-the-average-oct-2023\/\",\"name\":\"Where Can You Buy a Detached Home in Toronto for Less than the Average Price? | Zoocasa Blog\",\"isPartOf\":{\"@id\":\"https:\/\/www.zoocasa.com\/blog\/#website\"},\"datePublished\":\"2023-10-16T10:00:00+00:00\",\"dateModified\":\"2023-10-24T18:27:56+00:00\",\"description\":\"Wondering where you can find an affordable detached home in Toronto? 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