These 15 Ontario cities will give you the best home values

Ontario can seem like a tough province to find affordable real estate in, but if you know what cities to focus on, there are plenty that offer great home values.

A new report from MoneySense and Zoocasa took a look at which cities across the country offer the best real estate value — a combination of affordability and appreciation — and Ontario dominated the list.

With recent real estate trends going the way they are, knowing what areas offer more affordable — yet still valuable — home options is more important than ever.

“More buyers are looking to upsize their homes and are looking to markets where it’s most affordable to do so,” said Zoocasa CEO and Broker of Record Lauren Haw. “As well, the ability to work from home has untethered many from living near business centres and has offered buyers the flexibility to relocate [farther afield] to markets they may not have previously considered.”

Below are the top 15 cities across Ontario that have the best home values in the province, according to the report.

1. Bancroft

Average home price: $292,733
One-year growth: 15%
Three-year growth: 78%
Three-year appreciation: $128,533

2. Woodstock-Ingersoll

Average home price: $433,383
One-year growth: 19%
Three-year growth: 67%
Three-year appreciation: $173,383

3. London-St. Thomas

Average home price: $463,433
One-year growth: 16%
Three-year growth: 77%
Three-year appreciation: $190,533

4. Tillsonburg

Average home price: $394,617
One-year growth: 15%
Three-year growth: 72%
Three-year appreciation: $164,817

5. Huron Perth

Average home price: $383,092
One-year growth: 16%
Three-year growth: 62%
Three-year appreciation: $145,892

See also:
- 37% of Ontario boomers are planning to buy a home in the next five years
- This Toronto house just sold for $1.1 million over the asking price

6. Greater Moncton

Average home price: $200,267
One-year growth: 14%
Three-year growth: 33%
Three-year appreciation: $50,067

7. Quinte

Average home price: $359,925
One-year growth: 16%
Three-year growth: 53%
Three-year appreciation: $124,125

8. Grey Bruce-Owen Sound

Average home price: $346,317
One-year growth: 15%
Three-year growth: 54%
Three-year appreciation: $121,117

9. Simcoe

Average home price: $406,408
One-year growth: 15%
Three-year growth: 59%
Three-year appreciation: $150,508

10. Lakelands

Average home price: $416,525
One-year growth: 15%
Three-year growth: 49%
Three-year appreciation: $137,225

11. Ottawa

Average home price: $502,242
One-year growth: 18%
Three-year growth: 44%
Three-year appreciation: $154,342

12. Kawartha Lakes

Average home price: $444,650
One-year growth: 15%
Three-year growth: 49%
Three-year appreciation: $137,225

13. North Bay

Average home price: $242,892
One-year growth: 12%
Three-year growth: 20%
Three-year appreciation: $40,792

14. Brantford Region

Average home price: $463,308
One-year growth: 16%
Three-year growth: 42%
Three-year appreciation: $136,408

15. Southern Georgian Bay

Average home price: $460,608
One-year growth: 13%
Three-year growth: 51%
Three-year appreciation: $155,208