These are the most affordable neighbourhoods for condos in Toronto
It's no secret that Toronto condo prices are ridiculous, but even in a city with a market as hot as ours, there are some areas where buying a condo will cost you slightly less.
Using data from the Toronto Real Estate board, a new report released by Zoocasa maps the most affordable neighbourhoods in Toronto by condo price. Included in this map is the average income required to afford a condominium in the area.
Here are the six most affordable neighbourhoods for condos in Toronto:
Bordered by Rouge River to the east and Lake Ontario to the south, West Hill and Centennial Scarborough in TREB's E10 district are the furthest thing from land-locked. Condos in these neighbourhoods, on average, as of May 2018, cost $253,822. An income of $40,547 is required to afford the average condo in this area.
West Hill in Scarborough boasts the beautiful East Point Park that has bike trails; baseball diamonds; a pond and, of course, looks out over Lake Ontario. Just on the edge of Centennial Scarborough, aka Port Union, sit Scarborough institutions The Amazing Ted's Diner and Shamrock Burgers for some god ol' fashioned eats.
North of Highway 401 and east of Markham Road in TREB's E11 district sit the Malvern and Rouge neighbourhoods. Here, the average condo price, as of May 2018, is $332,969. An annual income of $53,189 is required to afford a condo here.
Near the Toronto Zoo in Scarborough, you'll find an abundance of places to get you moving with the Toronto Pan Am Sports Centre and many ravines and parks — including Rouge Park, of course.
In TREB's W10 district are the affordable neighbourhoods of Rexdale-Kipling and West Humber-Claireville. The average condo price in these neighbourhoods, as of May 2018, is $346,796. An annual income of $55,397 is required for the average place.
Below is a map generated by Zoocasa of the 20 cheapest Toronto districts to buy a condo in.
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