Ontario city among cheapest places to buy a townhome in Canada

First-time home buyers eyeing a townhouse — the perfect middle-ground between a freehold house and an apartment condo — are going to get their money's worth in London more than any other city in Ontario.

A new Zoocasa report highlights the best Canadian cities to buy a townhouse in 2026, using benchmark prices and year-over-year growth to determine the ranking.

Despite Quebec City being crowned as the top market in Canada for townhouses, buyers are seeing significant price corrections across almost every major Ontario region. 

Zoocasa, with data courtesy of the Canadian Real Estate Association.

Hamilton-Burlington appears to offer potential buyers the most bang for their buck right now, as the report shows that townhouse prices dropped 9.16 per cent from $688,100 in 2024 to $625,100. 

There's some good news for city slickers, too.

Toronto townhouse prices are also on a decline, albeit not as much as the suburbs. Toronto prices dropped almost 8 per cent, down to $696,300 in 2025. 

Ottawa, Kitchener-Waterloo, London-St. Thomas and Barrie are other Ontario markets with remarkable price drops. For instance, townhouses in London-St. Thomas are below the half-million mark, averaging at just $459,000.

There are plenty of perks that come with a townhouse. You typically get more space and less maintanance fees compared to a condo. In some cases, these types of homes can offer main-level or rooftop patios, much larger than condo balconies. 

Here's a look at all the opportunities in Ontario for townhouse buyers:

Hamilton-Burlington: $625,100 (-9.16 per cent Y-O-Y)
Barrie District: $548,100 (-8.68 per cent Y-O-Y)
Greater Toronto: $696,300 (-7.73 per cent Y-O-Y)
Kitchener-Waterloo: $530,900 (-7.23 per cent Y-O-Y)
London-St. Thomas: $459,000 (-7.03 per cent Y-O-Y)

For first-time buyers eager to enter the market, purchasing a townhouse seems like a worthy investment in 2026, especially since the massive inventory of condos hasn't been getting any traction last year.