You can apparently buy a home for under $500,000 in two Toronto neighbourhoods, Canada Reviews

Housing affordability has long been a problem in Toronto, even with this past year’s tariff-induced market lull (the average GTA home price dropped below $1 million for the first time in five years in January). While finding a truly affordable home right in the city remains an almost impossible challenge, a new report has highlighted a few neighbourhoods in Toronto where the average sold price is somehow under the $500,000 mark.

The report released this week by Wahi analyzed February 2026 sales data in the GTA in neighbourhoods with five or more transactions, and two of the top five most affordable areas are actually in Toronto. With a median sold price of $452,000, Flemingdon Park ranked the second least expensive GTA neighbourhood, while Wallace Emerson (near the Junction Triangle) ranked fourth with a median sold price at $485,000. 

The report noted that Flemingdon Park is a condo-heavy neighbourhood, likely accounting for the extremely low sold price average. Wallace Emerson, on the other hand, features a mix of older homes, condos and rental apartments. This pocket of Toronto is a relatively more transit accessible area compared to the rest of the Junction — it’s not far from Landsdowne subway station on Line 2. It’s also surrounded by nearby neighbourhoods where home prices are definitely above $1 million, so securing a property here under $500,000 would be a pretty great find.

Outside of Toronto, Queen Street Corridor in Brampton ranked the least expensive neighbourhood in the entire GTA (median sold price: $407,000), while Core Mississauga in, you guessed it, Mississauga took third place with a median price of $475,000. Wismer in Markham took fifth place, squeaking in just under $500,000 at a median sold price of $499,500.

The report also ranked the city’s most expensive neighbourhoods, and the stark difference in median sold price is pretty shocking. Many of the areas were in North York, but the most and second-most expensive neighbourhoods were in Oakville and Etobicoke, respectively — all coming in with a median sold price above $2 million!

The most expensive neighbourhoods in the GTA

1. Eastlake, Oakville: $2,458,000
2. Kingsway South, Etobicoke: $2,298,000
3. Ledbury Park, North York: $2,281,000
4. Hogg’s Hollow, North York: $2,269,000
5. York Mills, North York: $2,135,000