We all know Toronto’s housing market is anything but affordable. The rising cost of housing here seems to make the news every day, leaving many to feel like they’ve already been priced out of the market.
The good news: there are neighbourhoods where your money goes a long(er) way!
While these areas are more affordable today, the big appeal is how they’ll develop over the next few years, increasing the likelihood that they’ll rise in value more than Toronto’s more established neighbourhoods. Cha-ching!
Here are BREL’s favourite bang-for-your-buck 416 neighbourhoods:
1. Rockcliffe Smythe
($803k avg. sale price for May 2021)
- Bounded north by Eglinton Avenue West, west by the Humber River and Jane Street, south along Jane to Lambton, and east to the north-south railway lines past Weston Road.
- Calm, family-friendly neighbourhood with parks, green spaces, ravines, and recreational centres near.
- When the Eglinton Crosstown LRT opens it will connect the community to the city’s transit system, making it more accessible. Northern parts of the neighbourhood will be a walking distance away to Mount Dennis station.
- See properties for sale in Rockcliffe Smythe here
($769k avg. sale price for May 2021)
- Bordered in the north by Eglinton Avenue West, Dufferin Street in the east, St. Clair Avenue West/Earlscourt in the south and the Canadian National Railway line in the west.
- Several parks and parkettes in the neighbourhood, with other greenspaces bordering around. Prospect Cemetery, for example, extends from Earlscourt park in the south all the way to the north-east corner of Eglinton Avenue West.
- Local businesses can be found along Eglinton, including a part of Little Jamaica. Every year the Fairbank Village BIA hosts an international street festival, attracting over 5,000 visitors.
- Other landmarks of the neighbourhood include the Fairbank Memorial Community Centre on Dufferin, and the First Portuguese-Canadian Cultural Centre on Caledonia.
- See properties for sale in Caledonia-Fairbank here
3. Dovercourt-Wallace Emerson Junction
($837k avg. sale price for May 2021)
- Situated north of Bloor Street, east of Dundas Street West, west of Christie Street and south of the CPR railway lines.
- Touted as the “Next West Queen West,” with restaurants, vintage shops, galleries and fruit markets. There is an annual street festival called ‘Big on Bloor’ which features art, music and international food.
- West of Lansdowne has really developed recently as part of the Junction Triangle, but east of Lansdowne is about to benefit from all of the development of condos at Dupont and Dufferin.
- Great proximity to TTC thanks to the Bloor subway line! Lansdowne, Dufferin, Ossington and Christie stations are all in this neighbourhood.
- See properties for sale in Dovercourt-Wallace-Emerson-Junction here
4. East Mimico
($976k avg sale price for May 2021)
- While Mimico is a large neighbourhood that extends towards central and west Etobicoke, the pocket near Park Lawn and Lakeshore is a hidden gem for condos.
- The neighbourhood is still being developed, especially the area just west of Humber Bay Shores, so more amenities and businesses are set to go in.
- Local businesses and restaurants can be found along Lakeshore, with beaches like Marie Curtis a short walking distance away
- Proximity to the waterfront, parks and greenspaces. There are so many parks and parkettes bordering Mimico and New Toronto area, as well as towards Humber Bay Shores.
- TTC options: buses and the 508 streetcar on Lakeshore
5. Yonge and Sheppard area
($1.07mil avg sale price for May 2021)
- Situated North of the 401, neighbourhoods Willowdale East, Willowdale West, and Lansing-Westgate are on the rise.
- The condos here are more affordable than in central Toronto and offer more square footage
- Willowdale East is more city-like and is more populated than its western counterpart.
- Shopping options at your door steps, from the Yonge Sheppard Centre, Empress Walk, North York Centre, and other businesses along Yonge. North York Civic Centre features Douglas Snow Aquatic Centre, North York Central Library and Mel Lastman Square.
- Steps away from TTC, with Sheppard-Yonge subway station to connect you to the rest of the city.
- See properties for sale at Willowdale West here
News about Toronto’s crazy housing market can be overwhelming when you’re looking for a new home. We’re here to help you navigate the market and find the home that’s right for you. Get in touch!