Last year, Ontario was the go-to spot for home searches. Now? Alberta cities like Edmonton and Calgary are grabbing attention thanks to their affordable housing and lower cost of living. While cities like Toronto and Vancouver are known for sky-high prices, Alberta offers single-family homes at prices that rival Toronto’s condos. Learn more about the cities where Canadians want to buy and rent in 2024.
Top-Searched Cities in Canada
The top five most-searched cities in 2024:
- Toronto
- Edmonton
- Calgary
- Mississauga
- Vancouver
Toronto tops the list, with one-bedroom rents averaging $2,374 and home prices at $1,061,700. Vancouver follows closely, boasting the nation’s highest rents at $2,534 and an even steeper average home price of $1,172,100. Mississauga ranks third, offering more affordable rents of $2,279 and proximity to Toronto’s urban core, just a GO train line offering a half-hour train ride to Toronto’s Union Station.
GTA Favorites: The Cities Buyers Can’t Ignore
Within the GTA, searches reveal a diverse housing market. After Mississauga, Oshawa, Brampton, Oakville, and Whitby are the most-searched cities, reflecting options ranging from suburban family homes to city-adjacent properties.
Most Searched for Cities in the GTA:
- Mississauga
- Oshawa
- Brampton
- Oakville
- Whitby
Western Canada’s Real Estate Momentum
As the cost of living keeps climbing, Canadians focus more on value and quality of life—and cities like Calgary and Edmonton are leading the charge. These two hubs highlight a growing trend toward affordable urban living.
- Calgary: One-bedroom rents average $1,634, and homes are priced at $575,600. The city blends urban living with outdoor adventures and is a stone’s throw away from the Rockies.
- Edmonton: With one-bedroom rents at $1,355 and average home prices at $395,400, Edmonton stands out as one of Canada’s most affordable urban centres and arguably one of the best investment opportunities in the country.
Comparatively, in Alberta, the cost of a single-family home is often less than what you’d pay for a condo in Toronto. This affordability, combined with strong economic foundations and an inviting cost of living, draws buyers looking to stretch their budgets further.
Who’s Driving the Market?
The 25-34 age range leads the pack, showing that first-time homebuyers and young professionals are interested in entering the market. Meanwhile, older buyers aged 45-64 are also active in the market, likely seeking to downsize or help their adult children with housing costs.
When broken down by age, the top age groups of home searchers are:
- 25-34 years old
- 45-54 years old
- 55-64 years old
- 35-44 years old
- 65+ years old
Top-Searched Cities in Ontario
- Toronto
- Mississauga
- Hamilton
- Ottawa
- Oshawa
Ontario, home to the largest population in Canada, remains a hotspot for real estate searches. Toronto and the neighboring city of Mississauga lead the pack, attracting significant attention from homebuyers and renters alike. Just an hour west of Toronto, Hamilton offers an attractive option for first-time buyers, with home prices and rents that remain more accessible to more people.
Meanwhile, Oshawa, located to the east of Toronto, stands out for offering the most affordable condo townhouses in the GTA, making it a popular choice for budget-conscious buyers looking to stay within reach of the city. This range of options underscores Ontario’s diverse appeal across different price points and preferences.
While cities like Toronto and Calgary often dominate the real estate buzz, Ottawa is quietly making waves in Canada’s housing market. It’s the only city outside the GTA to rank as one of the most-searched locations in Ontario this year. Let’s dive into why Canada’s capital is catching attention.
- Affordability: It’s cheaper than Calgary or Edmonton, yet way more budget-friendly for housing than Toronto.
- Stable Job Market: As the heart of Canada’s federal government, Ottawa offers solid, secure job opportunities.
- Livability: Think clean streets, plenty of green spaces, and iconic spots like the Rideau Canal—it’s a quality-of-life win.
- Cottage Proximity: Ottawa’s proximity to Quebec, with its abundance of picturesque lakes, offers access to affordable cottage properties—an appealing and budget-friendly alternative to the GTA’s more expensive vacation destinations.
A New Era of Housing Trends
This year’s home search trends highlight a growing focus on affordability as living costs continue to rise. Urban convenience is a key draw in Toronto’s bustling cityscape, where owning a car isn’t necessary. At the same time, Alberta’s more budget-friendly cities offer a compelling alternative for those seeking affordability without sacrificing urban amenities. First-time buyers target markets where their money goes further, and families prioritize communities that strike the right balance between value and quality of life. As Canadians adapt to these economic pressures, the housing market is shifting toward practicality and securing a more sustainable financial future.
Thinking of buying or selling? Give us a call today! One of the experienced agents at Zoocasa will be more than happy to help you through the exciting home-buying process!
