Ontario residents hoping to buy a house in an affordable city may have to travel pretty far outside the Greater Toronto Area.
Zolo, an independent real estate marketplace, released its list of top affordable cities in Ontario last month. The company made its determination by examining home prices, unemployment rates and population growth.The most affordable was Nepean, a municipality just west of the capital. The average home price is about $701,987 while the average household income is about $137,000.
Just one medium-sized city—defined as having a population between 30,000 and 100,000—made the top 10 list. The city ranked the least affordable in Ontario was New Liskeard, a northern municipality along the Quebec border.
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