If you think that you'd need to leave Ontario to be able to afford a home, you might be shocked to learn how much cheaper some locales in the province are than others at the moment.

For those willing to abandon the GTA and set their sights further north — which is surely easier than relocating elsewhere in Canada or immigrating to another country altogether — real estate in the least expensive city in the province is now a staggering $1.6 million less, on average, than in the most costly city.

And, surprisingly, the city with the most exorbitant prices isn't even Toronto anymore; in fact, the 6ix didn't even make the top five.

According to the latest report from the experts at Canadian brokerage site Zoocasa, based on July's figures, the township of King holds the title for the priciest Ontario city to live in, at least as far as purchasing a house is concerned.

The average price of a residence in the GTA community, which has a population of just under 30,000 as of 2021, has hit a whopping $1,927,333, which amounts to a monthly mortgage payment of $9,003 at current rates.

Second to King — which encompasses King City, Nobleton, Kettleby, Schomberg and others — is the somewhat-notoriously bougie Oakville, with an average price of $1,528,833 (equating to a mortgage bill of $7,141 per month).

Rounding out the top five last month were Whitchurch-Stouffville ($1,508,282 home price/mortgage payment of $7,045 a month); Uxbridge ($1,478,565 price/$6,906 mortgage); and Richmond Hill ($1,423,068/$6,647).

On the other end of the spectrum, Sault Ste. Marie has been named the most affordable city for housing, with a standard home setting you back about $348,889, with a mortgage of $2,013 per month — far cheaper than renting a one-bedroom apartment in Toronto.

Also extremely cheap compared to anywhere in the GTA are Thunder Bay ($375,059 for the typical home and $2,164 per month for a mortgage); North Bay ($415,191/$2,395); Sudbury ($473,235/$2,730) and Windsor-Essex ($554,277/$3,181).

These selling prices may be considered normal or even on the higher end for many other cities and towns in North America, but given that you'll have to fork out an average of $670k for a home in Canada at large, these are some pretty serious deals.

That is, for those who are willing to transplant their life a good 7.5 hours north of Toronto to settle in one of a few communities that don't have the best reputations.

BlogTo (Becky Robertson, August 29,2023)