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Homes Under $500,000 Account for Growing Proportion of Ontario Real Estate: Report
Condominiums drive the increase, while just 5% of townhouses and 18% of detached homes are valued under $500,000, MPAC said.
- New data released by the Municipal Property Assessment Corp. shows homes under $500,000 now account for nearly 24% of Ontario's real estate market, up from 17% in 2022.
- Condos account for much of the recent uptick in affordability, with 46% of that housing segment valued under $500,000 in 2026, up from 24% four years ago.
- Between 2022 and 2026, the number of municipalities with a median home value above $750,000 dropped to 65 from 105, including Kitchener, Waterloo, Cambridge, Hamilton, Collingwood, Kawartha Lakes, Gravenhurst, and Brock.
- Despite these shifts, other housing types remain less accessible; just 5% of townhouses and 15% of semi-detached homes are valued under $500,000 today, down sharply from 2016 levels.
- MPAC chief assessor Greg Martino says the decade has reshaped Ontario's housing market, indicating "a rebalancing" despite homes priced below $500,000 remaining well below decade-ago levels.
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The Toronto Star+15 Reposted by 15 other sources
Homes under $500,000 account for growing proportion of Ontario real estate: report
PICKERING - A new report says homes valued under $500,000 are taking up a bigger share of Ontario's real estate landscape, led by a shift in the condominium market.
·Toronto, Canada
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Nearly one-quarter of Ontario homes now valued below $500,000: report
Lower-priced homes are making up a larger share of Ontario’s housing market, according to new data from the Municipal Property Assessment Corporation (MPAC), which found nearly one-quarter of residential properties are now valued below $500,000. Properties valued at less than $500,000 accounted for nearly 24 per cent of Ontario homes in 2026, up from about 17 per cent in 2022, MPAC said. The figure remains well below the 67 per cent recorded a d…
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