The average value of homes in Ontario was just revealed and it's actually lower than you might think. Taking into consideration the sizes, condition of the homes, and the market, the average house is valued at only $440,000.
Of course, you're not going to find this surprisingly affordable price in Toronto very much, but you don't have to go that far either. In fact, the city of Hamilton, about an hour's drive from Toronto is one of the places in Ontario where you can actually find over a hundred houses for less than the provincial average.
Hamilton is becoming a homebuyers paradise lately and now it's obvious why. With the provincial average revealed at $440K it's clear that not only does Hamilton have hundreds of homes at that price, but even some way below that too.
These aren't condos either but rather actual houses both townhouses and detached homes. For example, in Hamilton, there are at least 35 houses that are currently on the market for less than $300,000, almost all of them are fully detached.
Hamilton is even better for millennial homebuyers and the extremely low house prices aren't the only reason why. Back in 2016, demographics revealed that millennials were actually the biggest population group in Hamilton. That means you'd be in good company if you decided to move out there.
The city of Hamilton even has a homebuyers assistant program for lower-income people who would be looking to buy property there. The program gives a forgivable loan to first-time buyers who currently rent in Hamilton and have a household income of less than $80,000 which again seems catered towards millennials.
Hamilton may be the best place for millennial homebuyers but it's not the only place with houses below the provincial average. You can also find affordable homes in places just outside the GTA just like Keswick to the north and Oshawa to the east, among others.