Zolo's Latest Study Uncovers the Top Affordable Cities in Ontario Amid Rising Housing Costs
The most affordable cities in Ontario were mostly cities with populations under 30,000
Recent Zolo Study Shows Small Cities Dominate in Housing Affordability
Our study provides valuable insights for anyone looking to buy a home in Ontario, whether they're a first-time homebuyer or a seasoned investor.”
TORONTO, ONTARIO, CANADA, June 12, 2023/EINPresswire.com/ -- Zolo, a leading Canadian real estate brokerage, has just released a new study on the most affordable cities in Ontario. The study analyzed 180 small, medium, and large cities across the province, considering housing affordability, economic strength, and population growth. This study comes at a crucial time, as the Bank of Canada raised the policy rate this week to its highest since 2001, making housing affordability more uncertain. — Jordann Kaye, Spokesperson
According to the study, the most affordable city in Ontario is Wasaga Beach, with an average home price of $325,189 and an average household income of $91,900. Other cities that made the top 10 include Nepean, Casselman, and Ottawa.
*Small Cities Dominate the Top 10 for Most Affordable Cities in Ontario*
Six out of the top 10 most affordable cities have a population under 30,000 and tend to be a more family-friendly area to live in, making them a great place to put down roots. Only one medium-sized city is on the list — LaSalle, with a 1.80 home price-to-income ratio.
*Ottawa Makes Top 3 Most Affordable Large Cities in Ontario*
For those looking to buy a home in a large city with a population of at least 100,000, consider Nepean, Ottawa, or Kanata. All three have unemployment rates of 4.6% and an average home price of less than $750,000.
"Buying a home is a major investment, and it's important to find a city that fits your budget," says Jordann Kaye, spokesperson at Zolo. "Our study provides valuable insights for anyone looking to buy a home in Ontario, whether they're a first-time homebuyer or a seasoned investor."
Overall, Zolo's study provides valuable information for anyone looking to buy a home in Ontario. With many affordable options available, finding a city that fits your budget and offers a high quality of life is possible.
*About Zolo*
Zolo is one of Canada’s most popular national real estate marketplaces. Each month, over 10 million home shoppers use Zolo to level up the way they buy, sell, rent, finance, and learn about real estate.
*Press Contact*
Jordann Kaye, Content Marketing Manager and Spokesperson, jordann.kaye@zolo.ca
Ph: 902-401-0610
Jordann Kaye
Zolo
+1 902-401-0610
email us here
Visit us on social media:
Facebook
Twitter
LinkedIn
Instagram
YouTube
TikTok
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
