Just because you live in the GTA doesn't mean you need to rent forever. In a new report, it was announced that while housing prices are on the rise there are still some cheap neighbourhoods to buy from. In fact, some Toronto housing prices can be nearly as low as $550,000.
According to the Greater Toronto Real Estate Market Report from Re/Max, 95% of the GTA areas recorded saw a steep increase in housing prices.
Neighbourhoods, such as the Eglinton and Yonge area, are now seeing some of the most expensive houses for sale in the GTA, with the average detached home sitting at $3,346,422.
However, if you don't have millions to spend on a new house, you don't need to move out of the GTA.
Re/Max compiled a list of the average prices throughout the area, and some are pretty affordable.
If you are looking to move into the cheapest area in the GTA, you might want to look at Brock in Durham Region.
In order to score your own home in this township, the average price is $552,711.
Oshawa in Durham region is also another cheaper place to live if you are looking for a detached home, with an average price of $611,872.
If Durham Region just isn't for you, Simcoe County also has some cheaper abodes.
You can live in both Essa and Innisfil for under $627,000. New Tecumseth is slightly higher with the average price of $695,967.
However, if you want to live in the downtown core, things get a little pricey.
When it comes to homes in the 416 area code, area W10 (which borders Steeles Ave. W. and Highway 401) is the cheapest place to be with the average price at $814,105.
If you're looking for something even cheaper and aren't afraid to move, there are a variety of homes for sale in Ontario for under $100,000.