Toronto City Guide

Toronto is Canada largest city and one of North America most diverse urban centres. The city proper is home to approximately 2.79 million residents, with over 7.1 million across the Greater Toronto Area. The GTA housing market demonstrated early stabilization signs in early 2026, though conditions remain firmly in buyer territory. The benchmark home price stood at $938,800, representing a 7.9% year-over-year decline while showing modest 0.3% monthly growth. Active listings rose to 19,314 units, and the sales-to-new-listings ratio of 36.1% remains below the 40% threshold indicating balanced conditions. Incomes simply have not kept up with home prices in Toronto, even following Bank of Canada rate cuts throughout 2024-2025. Explore all Toronto homes for sale, or dive deeper with our Toronto market trends and best neighbourhoods guides.

Toronto housing stock ranges from Victorian rowhouses to glass condominium towers. Average sold prices as of February 2026: GTA overall $1,008,968 (down 7.0% annually), detached homes $1,325,654 (down 8.3%), semi-detached $1,027,376 (down 4.9%), freehold townhouses $930,779 (down 6.1%), and condo apartments $626,650 (down 8.9%). The average sale-to-listing price ratio sits at 97%, with homes selling in an average of 54 days compared to 43 days a year ago. At the luxury end, Lawrence Park averages $4,830,000, Forest Hill $3,175,000, and York Mills $2,998,000. The Bridle Path is the most prestigious address, known as Millionaires Row, with 20/22 Park Lane Circle selling for $27M+ in 2025. Rosedale/Moore Park continues posting positive year-over-year price growth and is considered recession-resistant. Caledonia/Keelsdale, Scarborough, and Weston offer value with detached homes around $1M. For affordable condos, Scarborough City Centre studios and one-bedrooms start around $400,000. West Hill and Centennial Scarborough average $462,167 for condos, and Malvern/Rouge averages $491,173. The Toronto condo market has 1,494 homes listed under $500,000, with a median sold condo price of $600,000. Average residential sale price decreased 4.2% year-over-year in 2025 from $1,121,871 to $1,074,978, with listings up 17.2%. Experts predict a further 3.5% dip in 2026 to around $1,037,354. For detailed data, see our Toronto market trends analysis.

Toronto cultural calendar spans sports, film, and festivals. The cost of rent in Toronto is continuing to drop: Toronto rental prices hovered at an average monthly rate of $2,482 in February 2026, reflecting a 5.3 per cent decline from the same time in 2025 and 11.7 per cent lower than 2024. The city saw the steepest declines across most dwelling types, with studios dropping by 7.9 per cent, one-bedroom units by 6.9 per cent and two-bedroom units by 7.1 per cent. Day-to-day costs from March 2026 data: an inexpensive restaurant meal runs $25, a mid-range dinner for two $120, a monthly TTC pass $156, and basic utilities for an 85m2 apartment $199 per month. The average monthly net salary is $5,035 against a mortgage rate of 4.52%.

The Toronto Transit Commission operates the country busiest transit system across four subway lines, a streetcar network, and an extensive bus system. One-way TTC fares run $3.35, with monthly passes at $156. GO Transit regional rail connects GTA suburban communities to downtown Union Station. The PATH, a 30-kilometre underground pedestrian walkway, links offices, shopping, and transit across the downtown core. Toronto Pearson International Airport is Canada busiest airport.

The Toronto District School Board is the largest in Canada, educating 232,000 students across approximately 600 schools. The Toronto Catholic District School Board serves 84,000 students across 197 schools. Post-secondary institutions give the city one of the highest concentrations of university students in North America. The University of Toronto ranks 21st globally. York University enrols 53,500 students, and Toronto Metropolitan University serves 47,350. OCAD University is Canada oldest and largest art and design school.

Toronto healthcare infrastructure includes University Health Network, SickKids, Mount Sinai Hospital, and Sunnybrook Health Sciences Centre. For investors, typical Toronto cap rates by property type are: condos approximately 3.5%, single-family rentals approximately 4%, small multiplexes 5-5.5%, and garden or laneway suites 8%+. Toronto cap rates are lower than many secondary markets because of strong population growth, limited land supply, stable rental demand, and long-term appreciation potential. At a 5% cap rate, every $10,000 increase in net operating income adds $200,000 in property value. First-time buyers have meaningful support programs in 2026. The First Home Savings Account (FHSA) allows saving up to $40,000 tax-free - contributions are tax-deductible and withdrawals for qualifying home purchases are tax-free. The Home Buyers Plan lets you borrow up to $60,000 from your RRSP for a down payment, repaid over 15 years. Ontario and Toronto land transfer tax rebates total up to $8,475 combined for qualifying first-time buyers. The federal Home Buyers Tax Credit provides up to $1,500 in tax relief. Expanded CMHC insurance rules now allow 30-year amortization mortgages on homes up to $1.5 million with as little as 5% down. Browse all Toronto listings.