Toronto home prices grew faster than any U.S. city since 2000

Toronto housing prices may have cooled in 2025, but the runaway cost to own a home in the city has still far outpaced almost every other urban centre in North America.

Homes in Canadian cities have experienced unparalleled price appreciation since the turn of the millennium, and the three most populous cities in the country outpaced all urban centres in the United States over the past 25 years.

A new infographic produced by Visual Capitalist highlights changes in home price values across 25 North American cities from the period spanning 2000 to 2025.

Visual Capitalist

The report outlines how home prices in Vancouver, Montreal, and Toronto, have all grown at significantly faster rates than U.S. cities.

Vancouver — which has earned a reputation as Canada's most expensive urban centre to call home — topped the list with a 175 per cent appreciation rate. A home in Vancouver would have cost a buyer just US$306,000 in 2000, though average prices have since inflated to US$842,000 as of July 2025.

Montreal followed closely behind with a 167 per cent appreciation rate over the past 25 years, increasing from an average home price of US$156,000 in 2000 to a July 2025 average of US$417,000.

Toronto rounded out the top three with home prices increasing by 164 per cent from 2000 to 2025, rising from an average of US$268,000 to US$709,000 ($978,829 in canuck bucks).

Visual Capitalist

The report states that "Vancouver and Toronto, in particular, have faced long-term housing shortages and rank among America's least affordable housing markets," information that won't exactly come as a shock to anyone who has spent time in Canada's most populous city during the past quarter-century.