Cheapest Houses in Toronto

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Cheapest Houses in Toronto-Nathan Philips Square
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Where Are the Cheapest Houses in Toronto

People, young adults, in particular, tend to spend a good chunk of their adulthood living in affordable houses, from detached ones to condos. Therefore, given the high cost of living in Toronto, it is of utmost importance to make them aware of the hot deals so they can get the best bang for their buck. In this article, based on the recent data, we’re going to guide you in making one of the biggest financial decisions you’ll ever make by showing where are the cheapest and most affordable houses in Toronto.

The Average Price of the Cheapest Houses in Toronto

The volatile nature of the housing market, which depends on a myriad of factors like government policies, makes it challenging for real estate agents to firmly suggest where one can find the cheapest houses in a world-class city that is Toronto. Adding to the complexity is your own gut feelings and personal circumstances. Having acknowledged the peculiarity of the situation, we’re going to show you the most affordable neighborhoods in which you can find the cheapest houses.

According to the latest reports and data, you can find the cheapest houses in the neighborhoods located outside of the center of Toronto like Mount Dennis and Malvern. The figures reported here are bound to change as a result of high demands or other factors. Still, the following list should narrow down your search in finding a cheap and affordable house.

Area Municipality Community Average Price
Toronto Toronto W04 Mount Dennis $618,500
Toronto Toronto E11 Malvern $700,775
Toronto Toronto W05 Humber Summit $705,000
Toronto Toronto W05 Black Creek $724,318
Toronto Toronto W10 Mount Olive-Silverstone-Jamestown $739,877
Toronto Toronto W03 Rockcliffe-Smythe $741,642
Toronto Toronto W10 West Humber-Clairville $743,954
Toronto Toronto E09 Woburn $751,938
Toronto Toronto E06 Oakridge $756,524
Toronto Toronto E04 Ionview $760,413

Currently, these are the neighborhoods that you should be seeking for cheapest houses in Toronto. Mount Dennis, Malvern and Black Creek offer the cheapest houses, followed by Jamestown and Rockcliffe. Furthermore, you can glean future ideas from the list as it shows how much you should save up to move into a better neighborhood, hence, a better house.

Where are the Cheapest Rents in Toronto

You might say it would be an oxymoron to have “cheapest rent” and “Toronto” in one sentence and you would be right as the average rent prices are significantly high. You can, however, make the best of the situation and see how a Toronto real estate agent can help you out. From apartments to condos, there are various options at your disposal. Here, we’re gonna give you an idea of where you might find the cheapest rent.

As you can see, the cheapest rent you can find is located in E10, Scarborough, the Average rent for a 1 Bedroom unit is $1,550, and Average price of a 2 bedroom unit is $1,850. The list goes beyond the cheapest rents in Toronto and gives you a clue of how expensive the rents are throughout different wards and how much of a gap there is.

You can, however, make plans for the future with these costs in mind and hopefully, move into the better neighborhoods of the city.

For example, the average rent of a One bedroom-condo in Downtown Toronto is $2,359 per month and Average rent for a 2 bedroom condo in Downtown Toronto is $3,363 per month. As you can see the rent gap between cheapest neighbourhoods and expensive neighbourhoods is big. However, neighbourhoods like Downtown Toronto, and or King West area, offer a wider variety of amenities and qualities for dwellers.

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Mark was amazing to work with. He anticipated my questions and needs from start to finish, and I trusted him completely. It was obvious that he had my best interests at heart. Mark’s personality made the search for a new home fun, but I never doubted his seriousness in finding me the best home he could. He went to bat for me without hesitation and found me exactly what I needed, taking care of every detail. It made the process exciting, enjoyable and stress free. I would highly recommend him to any future home buyers or sellers!

Breanne M

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Ari is the most pleasurable person I have ever dealt with before. He never once pushed me towards anything I didn’t want, which is rare in this space and really cared about what I really wanted. You can really feel it from his actions. He catered his service to my needs. He was very patient, hard working, diligent, on top of things and real with me about the situation of the market. The quality of service was very high, not just for this industry but in general. He guided me personally through the contract process in person and made it absolutely painless. Such a reliable guy anybody would refer to their friends. I would definitely recommend Ari!

Bo L

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communication throughout the entire process making it smooth, transparent and timely. I recently got transferred to Toronto for work. I was scared I was not going to find a place in Downtown that met both my expectations and my budget, as the Downtown market is highly competitive. I am thankful that Ari took the hassle out of the apartment hunt. He delivered great listings that met and exceeded my expectations, he was always on top on arranging viewings and willing to make accommodations to fit my busy schedule. This allowed me to find a desirable place on my first week here in Canada. I appreciated his time and dedication, it was such a relief knowing that he was invested on my best interest. I can’t recommend him enough.

Juanita

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Ari was quick to understand my needs and steer me in the right direction. His professionalism and warmth made the process of finding a suitable home a lot less stressful than it could have been. He quickly arranged times to visit places I was interested in, which was one of the reasons I could seize a good deal and get a nice home in a good location. He is patient, friendly and knowledgeable and he definitely provides an above average service. I have nothing but good things to say about him and recommend him to everyone looking for a realtor.

Dario Machado

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Dear Ari, I wanted to thank you for finding me my dreamed condo ! Ari is a very reliable and dynamic person, thanks to his professionalism he found me the perfect condo in less than 24 hours !! As a newcomer in Toronto, I was not familiar with renting process but Ari made it easy, fast and really stress free for me, he was very helpful. I am really happy for the high quality of the service he provides and I will recommend him to everybody without a doubt.

Elodie

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Oh Ari, In this crazy game of downtown real estate it is quite difficult to find an agent that is timely, true to his word, and a joy to be around. Not only did you make the search process very easy but how quick you put everything together when I was ready to make an offer was phenomenal. The online process really saved me a lot of time and explained everything very well. Most of all though your attitude and humor really made things enjoyable and you were very accommodating to whomever I brought with me on my viewings. I would definitely refer Ari to anyone looking for property downtown. He won’t disappoint.

Abdullah

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Hey Ari, I’ve had a few experiences with agents trying to find me a unit in the past, and not all of them I’ve had a helpful experience with. Ari was very friendly and attentive to my needs. It was clear he understood what I was looking for and provided me with lots of great options! He found me a great unit under my price range that I love and made the process of applying and renting it so easy. He did all the leg work and the only thing he needed me to do was sign my name. If anyone is looking for an agent to help find them a place to live I’d send them to Ari without a doubt.

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