Property Prices in Toronto, Canada

Index Info
Price to Income Ratio: 12.00
Mortgage as Percentage of Income: 96.47%
Loan Affordability Index: 1.04
Price to Rent Ratio - City Centre: 28.17
Price to Rent Ratio - Outside of Centre: 25.87
Gross Rental Yield (City Centre): 3.55%
Gross Rental Yield (Outside of Centre): 3.87%
Rent Per Month
Edit Range
Apartment (1 bedroom) in City Centre 2,115.36 C$ 1,745.00-2,500.00
Apartment (1 bedroom) Outside of Centre 1,825.42 C$ 1,500.00-2,200.00
Apartment (3 bedrooms) in City Centre 3,458.33 C$ 3,000.00-4,500.00
Apartment (3 bedrooms) Outside of Centre 2,912.90 C$ 2,500.00-3,500.00
Buy Apartment Price
Edit
Price per Square Feet to Buy Apartment in City Centre 1,157.96 C$ 899.99-1,683.99
Price per Square Feet to Buy Apartment Outside of Centre 908.33 C$ 649.99-1,199.99
Salaries And Financing
Edit
Average Monthly Net Salary (After Tax) 4,633.96 C$
Mortgage Interest Rate in Percentages (%), Yearly, for 20 Years Fixed-Rate 5.18 2.74-8.75

These data are based on 617 entries in the past 18 months from 123 different contributors.
Last update: August 2022

Sources and References
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9 Comments so far
Alex Jones on Jun 09, 2022:
Prices in Toronto are finally coming down after over 10 years of increases in property values. https://home.ca/toronto-real-estate/neighbourhoods you can see here in most of Toronto's neighbourhoods prices are well above 1 Million for a house/townhouse and even a 2 bedroom apartment. The good news for those with cash on the side is that it's finally getting cheaper to buy something, although if you need a mortgage it's getting more expensive to borrow. Overall Toronto is a great city to invest & live in. I think Over the next 10 years anyone buying in Toronto will do well financially.
Boss Of The Harbour on Jan 20, 2022:
Toronto is a world class City. The restaurant's, entertainment and sports are the best. The Blue jays and the Raptors are world champions. Yes, Real Estate is expensive, however consider this, Toronto has the largest Real Estate Board in the World, we sell more R.E. than anywhere in the World. Canadians want to own and NOT rent. Is Real Estate over inflated?, yes... why because Canadians are a proud people, properties for the most part are well keep. Toronto has world class education and therefore attracts immigration. Our public transportation is good. We have maybe a handful of gun related deaths in anyone year, very safe. If you want to make money buy R.E. in Toronto, however, if you want to lose money buy in a third world country like the U.S.A. We Canadians have Health care, in a country like the U.S. you are on your own.
Anonymous on Nov 27, 2021:
The good jobs are few and far between and already taken by somebody who knows someone. Anti-business environment too.
Anonymous on Nov 27, 2021:
Lived in Toronto 1972-1996 Age 15-44.As a teenager it was a paradise. Parents bought house there for 108,000 in 72 worth 3.2 million today. Moved to Florida in 2000.Way less to live here plus year round sunshine.Unless you like watching immigrants grind out an existence not much there of interest anymore. Kind of boring.
anonymous on Nov 09, 2021:
Toronto isn’t what it used to be. Of course every city isn’t what it used to be as time goes by but this city is growing too fast and more and more traffic/congestion/pollution and crime will occur. More have nots, more homeless people, people pushed out so far and having to commute to work for peanuts. As someone born and raised here (I’m near 50 years old) it depresses me and walking around downtown remembering what was there before condos ruled and driving out to the suburbs when it was all farmland. I worry about my kids and their future here. I can see the attraction of Toronto and we are always found in lists of best cities in the world, most livable city, etc., but in reality living here sucks if you aren’t rich just like how it is in New York and London, UK.
Anonymous on Sep 20, 2020:
Horrible place to live!!!! Houses that not even 20 years ago were evaluated at 300000 are going for over a million dollars now. Biding wars and foreign money laundering are turning this city into a once nice and safe place into a total dumpster fire with ramped homelessness and stagnant low wages and growing violence and horrible living conditions that would make any 3 rd world country look first world ! You have been worned
Anonymoose on Jun 21, 2019:
Price to Income Ratio: 13.90
Mortgage as Percentange of Income: 98.89%

How can that even be on the green?

https://www.blogto.com/city/2018/01/toronto-ranked-one-least-affordable-cities-world/

Toronto one of the least affordable cities to live. It should be in red, specially because the net income here is a big fat lie.
Reality Winner II on Jan 04, 2019:
@ Icedream, scratch Toronto, Ottawa, Montreal, Quebec from your list, you will never find anything for that price. Check Moonbeam Ontario, that is more within that range. Houses in Toronto are between 800,000 to millions of dollars, for a dump in the cold. The benefit? You get to brag that you have a house in Canada. That's it.
Toronto is overpriced, it does not have any world class education, entertainment, or shopping, and the prices are over-inflated by double-representing real estate agents (the same agent represents buyers and sellers, and they force both to inflate prices. Totally legal).
Rent takes over half your income, and if you lose your job there are few to none social security networks. You will be on the streets at -20C.
Dr. Sneha Joglekar on Aug 20, 2018:
We are in search of a property that is open land for community Center for senior citizen in and around Toronto on lease or outright purchase in which small villa for accommodation and self content log house / studio apartment only ground floor min 5 nos can be installed and maximum upto 10 log houses or studio apartments in near future. Also community Center / recreation hall of around 1200/1500 sqft is to be installed along with place for kitchen and dining facility. Property needs proper road approach with possibility of public transport. location preferred is near by suburbs like Mississauga.