Despite conventional wisdom indicating the exact opposite, Ontario is home to one of Canada’s most affordable neighbourhoods.
According to a report from RE/MAX examining the cost of homes across Canada, Ontario includes many of the country’s least affordable markets. For example, Toronto is the second most unaffordable area in Canada, with Mississauga coming in fourth place.
When you drill down into specific neighbourhoods, however, Ontario is also home to one of Canada’s most affordable regions, Sault Ste. Marie’s Bayview area. In Bayview, the average cost of a home is only $100,000, making it one of the top 5 most affordable neighbourhoods in the country.
Bayview comes just before Washington Park in Regina, New Waterford in Cape Breton and West Flat in Prince Arthur.
There are other affordable areas in Ontario specifically, including Thunder Bay’s East End, Sandy Street in Chatham and 7801-Industrial Park/Bellwood in Ottawa all coming in at under $150,000.
Other notable affordable areas in Ontario include Toronto’s Regent Park, Hamilton’s North End and Carlton Place/Vanier in Ottawa.