Where a house under $ 1 million in Canada – Moneysenense

From July the Canadian Real Estate Associations are National Composite MLS Home Price Index Fell by 3.4% on an annual basis. The non-seasonal national average house price was $ 672,784.

Indeed, if you go through our goods to be purchased in Canada guide before 2025, in tabular form by our research partner ZOOCASA, all four after the four markets Bancroft, Quintte District and Northumberland Hills in Ontario, and the Fraser Valley in BC-HAD Average prices below $ 1.

The benchmark prices used here represent all kinds of units: single -family homes, mansions for ground level and condominiums. What you see on one market may not be what you get in another. Greater Toronto and Greater Vancouver both made the list this year, largely thanks to their ever -abundant stock of multi -family homes. Nevertheless, all housing types represent a foot in the door of home ownership and a place to call your own.

The most affordable cities in Canada

According to our survey, the most affordable city in Canada is Fredericton, NB, but there are also bargains in larger centers, including Calgary (#2) and Edmonton (#5). Our top five are Saint John (#3) and Moncton (#4), NB Ten cities have average house prices under $ 500,000. See the full list of Canadian cities with houses under $ 1 million below.

Where are the houses less than $ 1 million in Toronto?

“Of course, there are houses in Canada available for less than a million, but my career is in Toronto,” you might say. According to Zoocasa’s research, there were no fewer than 30 neighborhoods in the city of Toronto with average prices under $ 1 million.

The most affordable of all was Flemington Park, for $ 554,564. But the list (see table below) also contains enclaves that come to the world, such as Black Creek, KingsView Village-the Westway and West Humber-Clairville-Die all saw 50% or more price rating in the past five years.

With the help of the example of Flemington Park and the mortgage calculator of Moneysense, we can see that it is possible to buy a house in the largest city in Canada for only $ 30,456 lower, a total of $ 49,966 needed to close and monthly payments of $ 2,879 on a 25-year amortization. Total monthly expenses, including real estate tax, amount to $ 3,716. Extend the depreciation to 30 years and the monthly expenses fall to $ 3,446.

Where are the houses less than $ 1 million in the GTA?

In the Greater Toronto area (excluding Toronto itself), the research of ZOOCASA found 39 neighborhoods with average prices under $ 1 million from the end of the year 2024. The affordability leaders were Lakeview and Vanier in Oshawa, Virginia in Georgina and Beaverton in Brock Township. That is despite the fact that all four neighborhoods have risen the average prices in five years more than 50%. Brampon West has since risen by 84% in that period; Grab a house while you can!

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Where are the houses less than $ 1 million in Vancouver?

The average selling prices in Metro Vancouver this year fell under the threshold of $ 1 million after not achieving it the year before. Unfortunately, this did not translate into greater affordability in the city of Vancouver, which represents about a quarter of the regional population.

Only five neighborhoods in the city center offered average house prices under $ 1 million (against six last year), shown in the table below.

Buyers aimed at affordable houses for sale in Metro Vancouver can better search for suburbs such as New Westminster, Burnaby, Surrey, Richmond and Pitt Meadows.

Find more information about cities and neighborhoods in Canada, including values ​​and family friendliness, at Moneysense’s Where to Buy Real Estate in Canada Guide for 2025.

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About Michael McCullough

Michael is a financial writer and editor in Duncan, BC He is a former editor -in -chief of Canadian Business and editorial director of Canada Wide Media. He also writes for the Globe and Mail and BcBusiness.