Although it may not always seem like it, Canada still has pockets where there’s more affordable real estate. And as it turns out, Ontario is home to one of the most affordable neighbourhoods in the country.
A report from RE/MAX released on Tuesday took a look at housing affordability across the country and, more specifically, where in Canada has the most affordable housing prices.
As to be expected, Ontario was home to some of the least affordable markets in the country. Toronto ranked as the second most unaffordable in Canada, closely followed by Mississauga in fourth place.
But when broken down by neighbourhood, Ontario also has one of the most affordable: the Bayview neighbourhood of Sault Ste. Marie.
Bayview, which has an average home price of $100,000, ranked fourth in the top 5 most affordable neighbourhoods in the country, and was the only Ontario neighbourhood to do so. Washington Park in Regina, New Waterford in Cape Breton and West Flat in Prince Arthur all ranked above it.
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In Ontario, East End in Thunder Bay, 7801-Industrial Park/Bellwood in Ottawa, and Sandy Street in Chatham all ranked just below Bayview as some of the most affordable in the province.
A few other Ontario neighbourhoods got honourable mentions in the report as some of the most “relatively affordable” in the country. These included Regent Park in Toronto, North End Hamilton, and Hawthorne, Carlton Place and Vanier in Ottawa.