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Toronto Mortgage Affordability Calculator

Updated

Maximum Home Price

How much house can you afford in Toronto?

The average GTA home costs $1,008,968 as of February 2026, down 7.0% year-over-year — with City of Toronto at $1,019,144. The GTA benchmark is $938,800 (-7.9% YoY), sitting 7.9% below February 2022 peaks. With 5.0 months of supply and an SNLR of just 36.1%, Toronto is firmly in a buyer’s market.

Toronto affordability by property type

Real GTA data — February 2026:

Property Type Avg Price YoY Down (20%) Income Required
Condo Apartment $626,650 -8.9% $125,330 $139,755
Att/Row/Townhouse $930,779 -6.1% $186,156 $198,340
All Types $1,008,968 -7.0% $201,794 $213,376
Semi-Detached $1,027,376 -4.9% $205,475 $216,946
Detached $1,325,654 -8.3% $265,131 $274,408

Income assumes 4.04% rate, 25-year amortization, 32% GDS, $354/mo tax, $150/mo heat.

Condos are the entry point — at $626,650, they require less than half the income of a detached home. And they’ve fallen 8.9% YoY, the steepest decline of any property type.

GTA neighbourhood price breakdown

Area Price Range Notes
Scarborough (E03–E05) $700K–$1M Detached $200K–$300K below citywide avg
Etobicoke $800K–$1.2M Mid-range suburban
North York $800K–$1.5M Wide range by neighbourhood
Downtown (C01, C08) $700K–$750K Condo average
Midtown (C02–C04) $2M+ Detached often exceeds $2M

Scarborough detached homes run $200,000–$300,000 below citywide averages — the most affordable GTA entry for detached.

Toronto’s double land transfer tax — the hidden cost

Toronto is the only city in Ontario with a municipal LTT on top of provincial. Both use the same brackets:

Purchase Price Provincial LTT Toronto Municipal LTT Combined
$626,650 (condo avg) ~$8,333 ~$8,333 ~$16,666
$930,779 (townhouse) ~$14,416 ~$14,416 ~$28,832
$1,008,968 (avg) ~$15,979 ~$15,979 ~$31,000
$1,325,654 (detached) ~$22,313 ~$22,313 ~$44,626

First-time buyer rebates: Provincial up to $4,000 + Municipal up to $4,475 = $8,475 max savings

Living in Hamilton or other GTA suburbs eliminates the municipal LTT entirely — saving $8,000–$22,000.

Toronto vs comparable cities

City Avg Price Income Needed LTT at Avg Price
Toronto $1,008,968 $213,376 ~$31,000
Vancouver $1,206,180 $230,944 ~$20,000 (PTT)
Ottawa $641,436 $142,484 ~$8,629
Calgary $627,776 $139,895 ~$200
Hamilton $734,639 $160,194 ~$10,493
Edmonton $448,761 $105,383 ~$200

Toronto’s double LTT adds $20,000+ more in upfront costs than most other Canadian cities.

Toronto market conditions — February 2026

Metric Value
Average price $1,008,968 (-7.0% YoY)
Benchmark (TRREB) $938,800 (-7.9% YoY)
City of Toronto $1,019,144 (-6.2% YoY)
Total sales 3,868 (-6.3% YoY)
Active listings 19,314 (-1.1% YoY)
Average DOM 54 days (+11 days)
SNLR 36.1%
Months of supply 5.0
Sale-to-list ratio 97%
Market condition Buyer’s market

Homes selling on average 3% below asking price. TRREB estimates 100,000+ would-be buyers are holding off.

See the Toronto housing market report for the latest.

Tips for Toronto homebuyers

  1. Buyer’s market = negotiate — SNLR of 36.1% and 97% sale-to-list ratio means real power
  2. Budget $31K+ for LTT — Toronto’s double tax is a major upfront expense
  3. First-time buyer? Claim both rebates — $8,475 back on combined LTT
  4. Scarborough for value — Detached homes $200K–$300K below citywide average
  5. Consider Hamilton — 45 min by GO, $274K cheaper, and no municipal LTT
  6. Compare mortgage rates — Even 0.1% saves $20K+ on a $1M mortgage