Finding a home in the Greater Toronto Area (GTA) under $500,000 in 2025 might feel like chasing a unicorn — but it’s not impossible. With real estate prices surging across Canada over the past decade, the average condo price in places like Mississauga has now soared to nearly $584,000. Yet, a recent Zoocasa report reveals that 23% of GTA regions still offer condos under the $500K mark — providing some much-needed hope for first-time buyers and budget-conscious investors.
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Real Estate Prices Have Climbed Sharply Since 2018
The price for the average home in Canada jumped from $491,000 in 2018 to $668,097 in 2025, a whopping 36% increase, according to data from the Canadian Real Estate Association. The GTA, with its proximity to Toronto’s job market and amenities, has naturally seen some of the steepest increases.
Despite some cooling in the market, affordability remains one of the top concerns heading into the upcoming federal election. A Royal LePage and Burson survey found that 55% of Canadians say housing policies will influence their vote.
Where You Can Still Buy a Condo for Under $500K in the GTA
Zoocasa’s 2025 report identifies several pockets in the GTA where condos remain within reach for buyers with a $500,000 budget. These include:
- Innisfil
- Brampton
- Bradford
- Uxbridge
- Orangeville
- Oshawa
- Georgina
In contrast, more expensive areas like Toronto, King, Aurora, Markham, and Scugog now report average condo prices above $700,000 — putting them well out of reach for many first-time buyers.
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2025 GTA Condo Price Breakdown – Where You Can Still Buy Under $500K
| Region | Average Condo Price (2025) | Under $500K? | Commute to Toronto |
|---|---|---|---|
| Innisfil | $465,000 | Yes | ~1 hour 15 min (via Hwy 400) |
| Brampton | $478,000 | Yes | ~45 min to 1 hour |
| Bradford | $495,000 | Yes | ~1 hour 10 min |
| Uxbridge | $485,000 | Yes | ~1 hour 20 min |
| Orangeville | $472,000 | Yes | ~1 hour 15 min |
| Oshawa | $489,000 | Yes | ~55 min via GO Train |
| Georgina | $459,000 | Yes | ~1 hour 30 min |
| Toronto (Core) | $725,000 | No | — |
| Markham | $710,000 | No | ~45 min |
| Aurora | $715,000 | No | ~1 hour |
| King | $730,000 | No | ~1 hour 10 min |
Brampton: An Affordable Commuter-Friendly Option
Brampton is highlighted as a standout for affordability while still maintaining a reasonable commute to Toronto. According to Shan Thavayogam, a Brampton-based agent with eXp Realty, it’s a prime pick for cost-conscious buyers who still want city access.
“Brampton’s a solid option if you want to stay in the GTA without the high price tag,” said Thavayogam. “The commute can take 45 minutes to over an hour depending on traffic, but it’s manageable, especially if you steer clear of peak times.”
The Tradeoff: More Distance, Less Space
While it’s still possible to buy a condo for under $500K, the trade-off is often location and space. Buyers looking to stay within budget are now being pushed further from Toronto’s core — trading urban convenience for affordability.
Back in 2018, the average condo price in the GTA was $551,003, with many 905-area units priced well below that. But with today’s pricing pressures, even that budget no longer guarantees a spot close to downtown.
Final Thoughts: Plan Your Purchase Carefully
If you’re entering the market in 2025 with a $500,000 budget, your best bet is to look at surrounding GTA regions. Brampton, Oshawa, and Orangeville all offer promising options for buyers who are flexible with location and willing to consider commuting.
While affordability has certainly changed, smart buyers can still find value — especially if they act soon and monitor market trends.
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