Toronto’s top neighbourhoods

Want to find deals? The suburbs offer low prices & high appreciation

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From the April 2016 issue of the magazine.

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best deals in real estate 2016 toronto neighbourhoods

(Naeem Jaffer /Getty Images)

In the last five years prices for homes in urban Toronto have skyrocketed with the average home now selling above the $1 million mark. In fact, MoneySense has calculated that the average Toronto family would need to earn as much as $248,000 annually in order to afford a home downtown. That doesn’t mean there aren’t better deals to be found in neighbourhoods such as Danforth Village and the Woodbine-Lumsden corridor in the east end or Weston-Pellam Park in the west.

Yet, by and large, the best value and potential for appreciation can be found north and east of metro Toronto. One big reason: You get more house for less money. Among the Top 10 neighbourhoods, only one was priced above the GTA’s benchmark price of $689,000, while another came in more than $400,000 below it. This is welcome news in a city where buyers struggle to find value. That doesn’t mean our top picks are slow to grow. For instance, Aurora Grove, north of Richmond Hill, appreciated 82% in the last five years. And the neighbourhood is still undervalued compared to the rest of the GTA, say realtors. With great GO Train and highway access and new commercial redevelopment, Toronto’s suburbs are where to find value and catch momentum. Scroll down to see the full ranking of 400-plus neighbourhoods.

Photo gallery: Top 25 Toronto neighbourhoods to buy in »

Toronto at a glance…

CITY TOP 25
Average Neighbourhood Price $688,765 $586,232
Min $336,042 $347,125
Max $2,315,200 $793,100
Below $500K 24% 28%
Average 1-Year Return 11% 17%
Average 5-Year Return 49% 65%
Average Realtor Grade (Out Of 5) ★★★ ★★★½

Top 5 neighbourhoods

Realtors’ bet

Courtice, Clarington

Nestled between Oshawa and Bowmanville, the small community of Courtice is just 60 km from downtown Toronto, but a world away in value. It’s a place where you can still find older homes on large leafy lots and newer builds on smaller lots for around $360,000. But not for long: In the last five years, prices for homes in this growing community have shot up by 45%.

Top 25 neighbourhoods

*NR=Not rated

  • Rank Neighbourhood Area Average price Value Average price vs. area Average price vs. metro district Average price vs. greater city area Momentum 1-year price change 5-year price change Realtor grade
    1 Aurora Grove Aurora $560,800   71.3% 81.4% 83.1%   20.50% 82.0% ★★★½
    2 Central Newmarket Newmarket $531,200   67.6% 89.2% 78.7%   20.3% 75.2% ★★★½
    3 Bayview Wellington Aurora $561,300   71.4% 81.4% 83.1%   21.9% 55.6% ★★★½
    4 Stouffville Whitchurch-Stouffville $684,200   87.0% 85.4% 101.3%   17.1% 67.7% ★★★★
    5 Central Oshawa $274,100   64.4% 80.6% 40.6%   14.4% 66.7% ★★★
    6 Bristol-London Newmarket $478,000   60.8% 80.3% 70.8%   16.1% 57.5% ★★★
    7 Rural Innisfil Innisfil $272,600   74.0% 88.6% 40.4%   16.7% 59.5% ★★★
    8 Tansley Burlington $485,800   70.3% 75.1% 71.9%   13.2% 67.0% ★★★
    9 Oak Ridges Lake Wilcox Richmond Hill $793,100   100.9% 85.1% 117.5%   21.3% 66.5% ★★★★
    10 Freeman Burlington $495,400   71.7% 76.5% 73.4%   13.8% 66.9% ★★★
    11 Danforth Village-East York Toronto E03 $698,200   86.1% 101.7% 103.4%   16.6% 64.9% ★★★★
    12 Gorham-College Manor Newmarket $594,100   75.6% 99.8% 88.0%   19.8% 68.5% ★★★
    13 Aurora Highlands Aurora $728,300   92.6% 105.7% 107.9%   16.8% 70.5% ★★★★
    14 Weston-Pellam Park Toronto W03 $533,700   65.8% 94.8% 79.0%   15.1% 68.3% ★★½
    15 Woodbine-Lumsden Toronto E03 $627,800   77.4% 91.5% 93.0%   17.8% 60.9% ★★★
    16 Bayview Northeast Aurora $649,400   82.6% 94.2% 96.2%   17.2% 56.2% ★★★½
    17 Crosby Richmond Hill $753,800   95.9% 80.8% 111.6%   15.2% 65.3% ★★★★
    18 Uptown Burlington $465,100   67.3% 71.9% 68.9%   12.4% 52.3% ★★★½
    19 Commerce Valley Markham $653,900   83.2% 77.6% 96.8%   13.3% 73.5% ★★★
    20 Langstaff Richmond Hill $744,200   94.7% 79.8% 110.2%   21.6% 71.7% ★★★
    21 East York Toronto E03 $723,500   89.3% 105.4% 107.2%   18.8% 65.6% ★★★★
    22 Aurora Heights Aurora $636,700   81.0% 92.4% 94.3%   12.7% 64.1% ★★★½
    23 O'Connor-Parkview Toronto E03 $684,900   84.5% 99.8% 101.4%   19.1% 62.2% ★★★½
    24 South Riverdale Toronto E01 $729,000   89.9% 101.9% 108.0%   15.3% 57.1% ★★★★
    25 O'Neill Oshawa $296,700   69.7% 87.3% 43.9%   12.3% 54.7% ★★★

Click here to see the full ranking of all 400+ Toronto neighbourhoods.

SOURCES: Toronto Real Estate Board; Re/Max

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