Property Prices in Toronto, Canada

Index Info
Price to Income Ratio: 13.47
Mortgage as Percentage of Income: 120.84%
Loan Affordability Index: 0.83
Price to Rent Ratio - City Centre: 25.61
Price to Rent Ratio - Outside of Centre: 24.02
Gross Rental Yield (City Centre): 3.91%
Gross Rental Yield (Outside of Centre): 4.16%
Rent Per Month
Edit Range
Apartment (1 bedroom) in City Centre 2,525.25 C$ 2,200.00-3,000.00
Apartment (1 bedroom) Outside of Centre 2,153.12 C$ 1,800.00-2,600.00
Apartment (3 bedrooms) in City Centre 4,487.30 C$ 3,600.00-6,000.00
Apartment (3 bedrooms) Outside of Centre 3,642.81 C$ 3,000.00-4,800.00
Buy Apartment Price
Price per Square Feet to Buy Apartment in City Centre 1,303.09 C$ 999.99-1,765.14
Price per Square Feet to Buy Apartment Outside of Centre 1,019.91 C$ 799.99-1,300.63
Salaries And Financing
Average Monthly Net Salary (After Tax) 4,639.42 C$
Mortgage Interest Rate in Percentages (%), Yearly, for 20 Years Fixed-Rate 6.53 5.00-7.80

These data are based on 568 entries in the past 18 months from 104 different contributors.
Last update: May 2024

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11 Comments so far
Anonymous on Jan 16, 2024:
Toronto real estate is like playing hot potato.

Those who bought decades ago for cheap now want to offload their massive multi-million gains on the greater fools.

The property owner class is very greedy that a $30 monthly increase in their property taxes have caused some very aggressive reaction from them. They don't want to pay property taxes, while pocketing million-dollar gains in real estate.

Toronto is for Greater Fools. High rents, declining job market, and you can't really save any money, because those at the top of the economic chain will find some way in getting your money, whether it be greedy grocer prices, telecommunication oligopolies and greedy real estate speculators.
Anonymous on Jul 12, 2023:
Pat you're right.

Rent and property prices are too high in Toronto that one can't start up a business and cultural assets can't thrive to leave a legacy for the city. This is why most culture in Toronto is either imported or emulated from the USA.

It's not good for one's mental health to be worrying about mortgage costs and rent all the time, but that is the reality not only in Toronto, but all across Canada.

Artistic talent can't find a cheap spot to work on their craft, nor can they afford to pay rent for their domicile.

Talent, whether artistic, intellectual or entreprenurial immediately head to the USA once they get the chance. Toronto is designed to extract rent and have a society of conformists and wage serfs.

If you have an ounce of free spirit, intelligence and/or entrepreneurial drive, Toronto will mess with you until you conform to becoming an atomized NPC wage serf.

High rent prices and a wage serf life is terrible, and that is what Toronto is exactly what it is. A bad place.
Pat on Apr 15, 2023:
No, Toronto is done. Even at its peak, it was never a world-level city. Even famous writers and artists centuries ago had publicly written that the place was dismal and they couldn't wait to get out.

In fact, Canada's cities are done overall. Some say even the country. What began around 30 years ago, some say longer, is seen and felt by locals there in daily life. It's become a bus terminal, not a real city or place to be called home. Unaffordabilty of housing says it all, and the state of younger generations. What's even tragic is when a place's prices and cost of living don't match the level of that place, as in what the place has to offer. This is the silly situation in Toronto! What was originally made to be a Canadian Cleveland or Rochester level, has been used and abused, and now you have and see what you have. Good luck.
Dave P on Feb 07, 2023:
I have travelled extensively world wide and am presently on a 4-month trip to Bogota Colombia, Quito Ecuador, Lima Peru and Santiago Chile. Of all the cities I've been to Toronto compares favourably to all. The Australian cities score a bit higher in my estimate because of the better weather, perhaps better wine and better produce. If Toronto's winter was a month shorter at either end, then it would be perfect in my opinion. Housing is crazy expensive, but so it is in all world class cities. The rich are parking their money where they feel it's safest and sadly Canadian banks are more than willing to money launder for them as all European countries do. Our standard of living is very high, pollution low, you can swim in Lake Ontario if you can brave the cold. Crime is low but like everywhere the pandemic has exacerbated homelessness and petty crime. Traffic in the suburbs and on the major expressways can be gruelling at peak hours. Our parks and transit are clean and well maintained and the excellent Toronto Transit Commission TTC is expanding the subway network and trams. The regional rail network GO is expanding as well to suburban centres and more distant commuter cities. There are tons of sports, theatre, Dining, film festivals, fiestas, cultural celebrations, fairs and good shopping in beautiful malls and along counter-culture Queen St West to enjoy. The Ontario Science Centre, Royal Ontario Museum, Art gallery of Ontario, Ripley's Aquarium, Wonderland Amusement Park, Toronto Zoo, Toronto Islands, CN Tower, restaurant and Edge Walk. The Underground city PATH that connects most skyscrapers downtown protects us from harsh winter weather and offers hundreds of shops, restaurants and services. , the Distillery Historic District, St Lawrence market, Kensington market, little Italy, Korea Town, 3 Chinatowns, India Bazaar, Bata Shoe Museum, The Gardiner Museum, Harbourfront, The Music Garden, High Park are some of the places to enjoy. Our educational institutions Like University of Toronto and York University are world class in research and education. We have the Toronto Symphony, The Canadian Ballet, Taffelmusic and over 100 theatre companies from tiny to the Mirvish Broadway productions at the Royal Alexandria, Elgin Theatre, Winter Garden Theatre and Princess of Wales theatre. The Hockey Hall of Fame showcases the best of our national sport. Graffiti Alley is a gritty art experience. Cabbagetown is one of the largest collections of renewed beautiful Victorian homes and gardens in the world. City Hall Plaza showcases cultures and wares year-round and summer winds down with the 2-week Canadian national Exposition. There a car shows, home shows, garden shows, home-reno shows and more I can't think of. The downtown vibrant Entertainment District hosts bars restaurants, clubs and nightlife. Walk the 2km boardwalk on Lake Ontario in the quaint "Beaches" district in east Toronto. The city is criss-crossed with deep river ravines and all are protected parkland with bike paths, tennis, playing fields, picnic areas and more. If history is your thing explore Black Creek Pioneer Village or the beautiful Victorian homes of the well-preserved Annex. Further afield is Edwards Botanical Gardens or Centennial Park Conservatory and gardens. If Toronto bores you take a scenic train ride 2 hours to the amazing Niagara falls with all its tourist attractions and Niagara district including the charming historic preserved town of Niagara-on-the-Lake and the 100 or more exceptional wineries in the Niagara peninsula. Canadians flee to the lakes in the summer to escape city heat and Torontonians are no exception heading north to the beautiful Muskoka region, Georgian bay, and Halliburton. East are the Kawartha Lakes and wineries of Prince Edward County. West is the "west Coast" of Lake Huron with splendid beaches and Mennonite communities of the Waterloo region. South are the warm waters of Lake Erie. We celebrate our history at Fort York, Toronto and Saint Marie Among the Hurons with Martyrs Shrine in Midland Ontario. I could go on. 50% of the population of this city came from another country and we celebrate those cultures. Of the remaining 50% half are from other places in Canada. If that doesn't speak for itself well what does. People from around the world are clamouring to live here with all Toronto's opportunities in Finance, Health Care, research, education, publishing, the arts, TV, Film, manufacturing and more. You may encounter an "I hate Toronto" attitude from other Canadians but who cares, let them whine. It's all good and friendly here in "Trawna", a city I love.
Toronto_COL on Sep 16, 2022:
Not sure how they have confirmed the average monthly net income is $4,766.50 Canadian dollars in Toronto but that figure seems inflated?!? That is almost two thousand dollars more than what I make and my annual salary is considered good but average in Toronto.
Alex Jones on Jun 09, 2022:
Prices in Toronto are finally coming down after over 10 years of increases in property values. 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