Sign in
Toronto Ranked #1 Most Unaffordable Place In Canada To Buy A House

Photo cred - Matthew D. Britt

Housing prices have been going up for years in much Canada, but it seems like things have started to get out of control. According to the Huffington Post, Toronto is now the most unaffordable place to buy a home with an average Canadian income. The maximum mortgage available for someone bringing in an average income is $460 000. Meanwhile, the average price of a detached house in Toronto is $955 314.

And it gets worse! If you were planning on moving to the suburbs to settle down, you might want to have a backup plan. Markham, Vaughan, and Mississauga have recently joined the ranks of other Canadian cities that are unaffordable to live in, alongside Burnaby and Surrey in British Colombia.

As it stands, the most affordable city to buy a house in is Quebec City. In fact, most of the places on the "affordable" list are in Quebec, so they must be doing something right. But for us Torontonians, things aren't great. And housing prices in this city are only going up, so Millennials are in for a rough time.

Source

For more on all things Toronto, follow Zina on Twitter @zina_mustafa

Stay Informed
Get Toronto's latest and greatest stories every day straight to your inbox.

Narcity may receive a small commission if you purchase something we recommend in this article, which was created by the Narcity Shop team. Items are in stock and prices are confirmed at the time of publishing, but they can change at any time.

Sweater weather has finally arrived in Canada and I for one couldn't be happier. Along with stylish shackets and warm flannel sheets, we want to make sure you're as comfy as possible this fall. That's why we've put together this list of some of the softest and coziest sweaters the internet has to offer!

Keep Reading Show less

Justin Trudeau won last night's 2021 federal election with a minority government, and here's everything that's happened in Toronto in the last 24 hours.

From long lines to city officials' responses and where ridings stand as votes continue to be counted from mail-in ballots.

Keep Reading Show less

Toronto Liberal candidate Kevin Vuong has been asked to pause his campaign by the Liberal Party after a dropped sexual assault charge from 2019 has come to light.

The Toronto Star reported that Vuong was charged with sexual assault in 2019. However, according to the Toronto Star, the charge was withdrawn later that year.

Keep Reading Show less

A Guinness World Record has just been bestowed upon a very, very tall Canadian teen, and he truly stands head and shoulders above most of us.

Hailing from Quebec, 15-year-old Olivier Rioux clocks in at a neck-ache-inducing 7 feet, 5.33 inches tall, which has earned him a place in the 2022 edition of the Guinness World Records as the world's tallest living male teenager. That makes him taller than any of the Toronto Raptors players.

Keep Reading Show less