Only 5 Ontario places have homes cheaper than the Canadian average price Ontario RealEstate
Average home prices in the region — just below $1.1 million as of Feb. 2023 — are approaching double the national average of $662,437. Luckily for buyers, prices have declined across the country since an early 2022 peak, but it will still cost you a pretty penny to set up shop in any of the major population centres.
The GTA remains the second-least affordable housing market in Canada behind Greater Vancouver, however, there are still plenty of places in Ontario where you can still buy into your new life at prices well below that of the typical Canadian home. In a search for pockets of affordability in this increasingly costly national housing market, real estate expertsin 20 regional Canadian markets to see how far they've fallen below national averages.
Of the 20 markets, they identified 14 areas with comparatively affordable home prices, including five located right here in Ontario.Sudbury was ranked the 7th most affordable market in Canada, and the cheapest Ontario market of 20 analyzed. Its average home price of $401,100 represents a decline of 13.7 per cent over the previous year, though other cities witnessed even more substantial price declines in this period.
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