Homes For Sale in the GTA, Price Under $500,000

Finding Affordable Housing in 2025

In 2024, finding homes for sale in the Greater Toronto Area (GTA) under $500,000 can feel like an elusive goal, given the competitive nature of the real estate market. However, with the right strategies and knowledge, there are still affordable options for prospective buyers in the region. Whether you’re a first-time homebuyer or looking to downsize, this guide will help you explore budget-friendly homes in the GTA and provide tips on navigating the real estate landscape.

Current Real Estate Market in the GTA

The real estate market in the GTA has seen substantial growth over the past decade, with average home prices skyrocketing. In 2024, housing prices remain high due to a strong demand fueled by population growth, urban development, and limited supply. However, the good news is that homes priced under $500,000 are still available, especially in select neighborhoods and specific types of properties such as condos or smaller houses in suburban areas.

According to the Toronto Regional Real Estate Board (TRREB), the median price for a home in Toronto hovers above $1 million, but a closer look at less-central areas in the GTA reveals opportunities for buyers with smaller budgets. Condominiums and townhomes, particularly in suburban communities, offer a realistic entry point for those seeking affordable housing in the GTA.

Affordable Neighborhoods in the GTA

If you’re looking for homes for sale in the GTA under $500,000, certain neighborhoods offer more possibilities than others. While properties in the core Toronto area are mostly out of this price range, expanding your search to surrounding areas can yield better results.

• Scarborough: Known for its diversity and community feel, Scarborough offers some of the most affordable housing in Toronto. Condos and townhomes are the primary options for buyers under $500,000.
• Pickering: Just east of Toronto, Pickering is another affordable suburb that offers smaller detached homes, condos, and townhouses within the $500,000 range.
• Oshawa: Located further east in Durham Region, Oshawa is an emerging market for budget-friendly homes. With a range of condos and townhomes available, this area offers a great balance of affordability and proximity to the city.
• Milton: West of Toronto, Milton provides options for first-time buyers and young families, with townhomes and smaller detached homes available under $500,000.
• Brampton: Known for its growing population and strong real estate market, Brampton still offers some opportunities for homes under $500,000, particularly in the form of condos and townhouses.

Tips for Homebuyers on a Budget

Navigating the GTA real estate market can be overwhelming, especially when you’re on a budget. Here are some practical tips to help you find a home that fits your needs and financial situation:

1. Be Open to Different Types of Properties: Condos and townhouses are often more affordable than detached homes. If you’re looking for a home under $500,000, focus on these types of properties, which offer lower maintenance costs and are easier to find within this price range.
2. Expand Your Search Radius: While central Toronto may be out of reach, nearby areas such as Durham Region, Peel Region, and Halton Region offer more affordable housing options. You may find better deals by widening your search to suburban communities or even smaller cities within commuting distance.
3. Stay Informed About New Developments: New housing developments often offer units at a lower price point during the pre-construction phase. Keep an eye on upcoming projects in affordable neighborhoods to secure a home at a better price before the market drives it up.
4. Get Pre-Approved for a Mortgage: Before you begin your home search, it’s important to understand what you can afford. Getting pre-approved for a mortgage gives you a clear budget and can help streamline the buying process.

Considerations for Buyers Looking for Homes Under $500,000

When you’re purchasing a home in the GTA for under $500,000, there are several factors to keep in mind:

• Size and Space: Homes in this price range may be smaller or offer fewer bedrooms. It’s important to prioritize what aspects of a home are most important to you, such as proximity to work or schools, rather than focusing solely on size.
• Renovations: Homes in the lower price range may require some upgrades or renovations. Consider whether you’re willing to invest in a property that may need work, and factor these costs into your budget.
• Location vs. Price: The closer a property is to Toronto’s downtown core, the more expensive it is likely to be. Evaluate your need for accessibility to the city versus your budget. Properties in suburbs like Oshawa or Milton may offer a larger space at a lower cost, but require longer commute times.

While finding a home for sale in the GTA under $500,000 may seem like a challenge in today’s market, it is not impossible. With strategic planning, an open mind, and the right guidance, buyers can still find budget-friendly options in this dynamic region. Whether you’re looking for a cozy condo in Scarborough or a family-friendly townhouse in Milton, the GTA has affordable housing options to suit a range of needs.

If you’re ready to start your home search or need expert advice, contact a local realtor today. Explore available listings, subscribe to real estate updates, and stay informed about new opportunities in the GTA’s ever-changing market. Your dream home may be more attainable than you think!

Date (Newest to Oldest) Date (Oldest to Newest) Price (Highest to Lowest) Price (Lowest to Highest) Beds (Highest to Lowest) Beds (Lowest to Highest) Baths (Highest to Lowest) Baths (Lowest to Highest)

Search / Filter Results

237 results | Page 12 of 20

12 24 48

Search/Filter Properties

All Property TypesAgricultureBusinessHospitalityIndustrialInstitutional - Special PurposeMulti-familyOfficeOtherParkingRecreationalRetailSingle FamilyVacant Land

All Transaction TypesFor LeaseFor RentFor SaleFor Sale Or Rent

All Building TypesApartmentCommercial ApartmentDuplexFourplexHouseMobile HomeModularMulti-FamilyMulti-Tenant IndustrialNo BuildingOfficesOtherParkingRecreationalResidential Commercial MixRetailRow / TownhouseTriplexUnknownWarehouse

All Construction StylesAttachedDetachedLinkSemi-detached

Bedrooms

Min. 0 1 2 3 4 5 6 7 8 9 10 +

Max. 0 1 2 3 4 5 6 7 8 9 10 +

Bathrooms

Min. 0 1 2 3 4 5 6 7 8 9 10 +

Max. 0 1 2 3 4 5 6 7 8 9 10 +

Price

Min. $0 $100,000 $200,000 $300,000 $400,000 $500,000 $600,000 $700,000 $800,000 $900,000 $1,000,000 $1,100,000 $1,200,000 $1,300,000 $1,400,000 $1,500,000 $1,600,000 $1,700,000 $1,800,000 $1,900,000 $2,000,000 $2,100,000 $2,200,000 $2,300,000 $2,400,000 $2,500,000 $2,600,000 $2,700,000 $2,800,000 $2,900,000 $3,000,000 $3,100,000 $3,200,000 $3,300,000 $3,400,000 $3,500,000 $3,600,000 $3,700,000 $3,800,000 $3,900,000 $4,000,000 $4,100,000 $4,200,000 $4,300,000 $4,400,000 $4,500,000 $4,600,000 $4,700,000 $4,800,000 $4,900,000 $5,000,000 $5,100,000 $5,200,000 $5,300,000 $5,400,000 $5,500,000 $5,600,000 $5,700,000 $5,800,000 $5,900,000 $6,000,000 $6,100,000 $6,200,000 $6,300,000 $6,400,000 $6,500,000 $6,600,000 $6,700,000 $6,800,000 $6,900,000 $7,000,000 $7,100,000 $7,200,000 $7,300,000 $7,400,000 $7,500,000 $7,600,000 $7,700,000 $7,800,000 $7,900,000 $8,000,000 $8,100,000 $8,200,000 $8,300,000 $8,400,000 $8,500,000 $8,600,000 $8,700,000 $8,800,000 $8,900,000 $9,000,000 $9,100,000 $9,200,000 $9,300,000 $9,400,000 $9,500,000 $9,600,000 $9,700,000 $9,800,000 $9,900,000 $10,000,000 +

Max. $0 $100,000 $200,000 $300,000 $400,000 $500,000 $600,000 $700,000 $800,000 $900,000 $1,000,000 $1,100,000 $1,200,000 $1,300,000 $1,400,000 $1,500,000 $1,600,000 $1,700,000 $1,800,000 $1,900,000 $2,000,000 $2,100,000 $2,200,000 $2,300,000 $2,400,000 $2,500,000 $2,600,000 $2,700,000 $2,800,000 $2,900,000 $3,000,000 $3,100,000 $3,200,000 $3,300,000 $3,400,000 $3,500,000 $3,600,000 $3,700,000 $3,800,000 $3,900,000 $4,000,000 $4,100,000 $4,200,000 $4,300,000 $4,400,000 $4,500,000 $4,600,000 $4,700,000 $4,800,000 $4,900,000 $5,000,000 $5,100,000 $5,200,000 $5,300,000 $5,400,000 $5,500,000 $5,600,000 $5,700,000 $5,800,000 $5,900,000 $6,000,000 $6,100,000 $6,200,000 $6,300,000 $6,400,000 $6,500,000 $6,600,000 $6,700,000 $6,800,000 $6,900,000 $7,000,000 $7,100,000 $7,200,000 $7,300,000 $7,400,000 $7,500,000 $7,600,000 $7,700,000 $7,800,000 $7,900,000 $8,000,000 $8,100,000 $8,200,000 $8,300,000 $8,400,000 $8,500,000 $8,600,000 $8,700,000 $8,800,000 $8,900,000 $9,000,000 $9,100,000 $9,200,000 $9,300,000 $9,400,000 $9,500,000 $9,600,000 $9,700,000 $9,800,000 $9,900,000 $10,000,000 +

Open House

Search

LOADING

For Sale$274,900

150 Charlton Avenue E Unit# 2907

Hamilton, Ontario

1 Bedrooms1 Bathrooms485 sqft

Make yourself at home at 150 Charlton Ave. E., Unit 2907, the Olympia Condos, in the Corktown neighbourhood of Hamilton. This bright, carpet free, and updated 1 bedroom 1 bathroom unit has floor to ceiling windows and a spacious private balcony with breathtaking views year-round of the Niagara Escarpment and sunsets! Located just a quick walk to many local restaurants, shops, parks, bus routes, cycling/walking trails, St. Joe's Hospital, and the Hamilton Go Centre. Quick access to the mountain and many major roads. Amenities include an indoor pool, gym, sauna, squash court, billiards and party/media room! Condo fees include building insurance, common elements, exterior maintenance, heat, hydro and water! Book your showing today to see this impressive unit before it's gone. Parking is available to rent along with this unit for $100.00 per month. (id:51158)

For Sale$499,900

394 Cope Street

Hamilton, Ontario

2 Bedrooms2 Bathrooms999 sqft

Welcome to this charming two-storey home, featuring a welcoming front porch enhanced by LED pot lighting. A new interlock pathway leads to a spacious backyard with a large patio—perfect for outdoor relaxation and entertaining. Inside, the newly updated custom kitchen shines with a stylish backsplash, adding a modern touch to the heart of the home. The main floor also boasts a comfortable living room, a 3-piece bathroom with a stackable washer and dryer, and a convenient walkout to the backyard and patio. The main floor is complemented by luxurious vinyl flooring throughout. Upstairs, you’ll find two inviting bedrooms, including one with its own walkout to a large deck—ideal for enjoying serene outdoor views. The upper level features elegant hardwood flooring and a beautifully appointed 4-piece bathroom. Additional highlights include a maintenance-free steel roof, offering durability and peace of mind. Conveniently located near Centre Mall, this property provides easy access to the QEW and is close to several schools: W.H. Ballard Public School (1 km), Holy Name of Jesus Catholic Elementary School (1.8 km), and Sherwood Secondary School (approximately 3.1 km). With a variety of amenities nearby, this home combines comfort and convenience in a well-connected community. (id:51158)

For Sale$459,900

15 Agnes Street

Hamilton, Ontario

3 Bedrooms2 Bathrooms1229 sqft

Welcome to 15 Agnes Street, nestled in the heart of a vibrant, up-and-coming neighborhood in Hamilton. This charming 3-bedroom, 2-full bath home offers the perfect blend of modern convenience and community charm. Located just steps away from the lively shops and popular restaurants of Ottawa Street, this residence is an ideal choice for those who appreciate urban living with a touch of local flair. Inside, you'll find a well-appointed layout awaiting your finishing touches, promising endless possibilities to customize and make it your own. Ample natural light fills the generously sized rooms, creating a warm and inviting atmosphere throughout. Outside, enjoy the convenience of a private, generously sized outdoor space - perfect for relaxing, entertaining, or simply unwinding after a busy day. With the added convenience of one dedicated parking spot, this home effortlessly combines comfort and practicality. Don't miss out on the opportunity to call 15 Agnes Street home. Schedule your private showing today and discover the potential that awaits in this thriving Hamilton neighborhood. (id:51158)

For Sale$464,900

22 Windsor Street

Hamilton, Ontario

2 Bedrooms1 Bathrooms667 sqft

Charming Bungalow in the west end of Hamilton! This adorable bungalow, freshly painted in blue, is charming and modern. Located in the vibrant community of Hamilton, just moments away from the picturesque Bayfront Park and bustling Downtown Hamilton, this home offers the perfect blend of urban convenience and tranquility. A stylish and contemporary interior that has been renovated from top to bottom. With a modern colour palette on the cabinetry, floors and walls. The heart of the home; the brand-new kitchen boasts sleek cabinetry, quartz countertops, an island to eat at, and stainless steel appliances. Meanwhile, the new bathroom features elegant fixtures and finishes. The basement is unfinished and perfect for extra storage, and the fenced backyard is awaiting your final touch to create an outdoor oasis. With new hardwood flooring, electrical, plumbing, roof, furnace, and newer AC, this home is truly move-in ready, allowing you to settle in and start making memories from day one. Perfect for a first-time homebuyer, young couple, or small family, this cozy bungalow offers two bedrooms and one bathroom - condo sized living without the fees! Don't miss out on the opportunity to make this adorable bungalow your own! Schedule a showing today and experience the perfect blend of comfort, convenience, and charm in the heart of Hamilton. (id:51158)

For Sale$499,900

65 Speers Road Unit# 209

Oakville, Ontario

2 Bedrooms1 Bathrooms600 sqft

Gorgeous Unit Offering ONE BEDROOM+DEN in Beautiful New Rain Condominiums in the Heart of Oakville. Perfectly Designed Open Concept Living Space & Balcony. Spacious Kitchen Includes Modern Cabinetry, Quartz Counter tops, Under-mount Sink, Stainless Steel Appliances. No Carpets, Dark Plank Engineered Laminate Flooring Throughout. Combination Living/Dining with a Walk-Out to the Balcony. Den with Space for a Home Office. Bedroom with Oversized Windows and Patio Door to the Balcony. Four Piece Bathroom and Convenient In-Suite Laundry. The Unit Includes One Parking Spot and A Storage Locker. Building Amenities Include 24-hour Concierge, Party Room w/ Kitchen, Entertainment Room w/TV and Lounge, Fitness Area w/ Pilates and Yoga Studio, Nordic Inspired Indoor Pool w/ Whirlpool and Cold Water Plunge, Cedar Wrapped Dry Sauna, Guest suites, Rooftop Terrace w/Barbecues and Car Wash Area. Only 30 Minute Drive to Toronto and Easy Access to Highways and Go Train. Just Move In and Enjoy! (id:51158)

For Sale$489,900

296 Julian Avenue

Hamilton, Ontario

3 Bedrooms1 Bathrooms763 sqft

Welcome to 296 Julian Ave! This tidy, 3 bedroom, 1 bath home has been lovingly maintained by its current owner for over 40 years. Situated in a desirable east Hamilton neighborhood steps to schools, parks and shopping. Bright, spacious, open concept, main level. Living room offers hardwood floors and huge window that fills the space with natural light. Recently updated primary bedroom with wainscoting, built in armoire and garden door access to hot tub and deck. Second bedroom recently painted in warm neutral tones, provides easy access to crawl space and furnace. Cozy loft area can be a third bedroom or playroom. Eat in kitchen with abundant cabinetry. Convenient mudroom and laundry room at rear of home. Roof shingles updated in 2019, new furnace and ductwork in 2022, 100 amp elect on breakers. The back yard is ideal for entertaining. Sprawling multi level deck. Relax under the gazebo, unwind in the hot tub or cool down in the pool. Long, private, side driveway with parking for 4 cars. Oversized garage with concrete floor and workshop. Lean-to behind garage to keep the garage and shop clutter free. Separate shed for pool equipment and toys. Easy access to RHVP and QEW. Perfect location for commuters. Don't miss out! (id:51158)

For Sale$429,900

100 Burloak Drive Unit# 1308

Burlington, Ontario

1 Bedrooms1 Bathrooms795 sqft

Retire in Style steps from Lake Ontario! Freshly painted one bedroom and den unit at Hearthstone by the Lake. Live independently or make use of the numerous amenities available to residents like Wellness Centre, Gym, Dining Room, library, lounge, housekeeping, indoor pool, 24/7 emergency nursing, handyman services, etc. Steps to Lake Ontario and located on the Burlington/Oakville border each unit comes with one underground parking space and a storage locker. Heating, air conditioning, and water is included in condo fees. Note: Club fee of $1672.45 payable monthly in addition to the condo fee. (id:51158)

For Sale$365,000

100 Burloak Drive Unit# 2510

Burlington, Ontario

1 Bedrooms1 Bathrooms682 sqft

Welcome to Hearthstone By The Lake, where comfort meets convenience in a vibrant community. This 1-bed condo unit offers a blend of comfort, style, & endless amenities for those seeking an exceptional living experience. Step inside this bright & cheery unit, boasting tall ceilings with an airy atmosphere. Prefer independent living or desire to indulge in the array of services available? Hearthstone By The Lake has something for everyone. Immerse yourself in a world of possibilities, as you enjoy exclusive access to a range of exceptional facilities. Maintain an active and healthy lifestyle with the fully equipped gym, indoor pool, & a variety of exercise programs tailored to your needs. Unwind & socialize in the elegant dining room, where your club fee covers a credit towards delectable meals prepared by a talented culinary team. Experience peace of mind knowing that the 24/7 emergency nursing services are just a call away. The dedicated wellness center provides a holistic approach to your wellbeing, ensuring that you have access to the care & support you need. Convenience is key at Hearthstone By The Lake, you’ll have access to one underground parking space and a locker, ensuring that your belongings are secure and easily accessible. The club fee encompasses a range of additional services, including housekeeping, emergency call system, & access to a wealth of engaging activities. Embrace a maintenance-free lifestyle as you explore the numerous amenities & social opportunities available within a vibrant community. At Hearthstone By The Lake, your home will be more than just a place to live – it could be a sanctuary that offers comfort, convenience, and a sense of belonging. Discover the unparalleled luxury and convenience that awaits you in this exceptional condo within this vibrant community. Don't miss out on the chance to enjoy the abundant offerings of Hearthstone By The Lake. Schedule a viewing today and embark on a new chapter of relaxed and enriching living. (id:51158)

For Sale$499,900

15 Lincoln Street

Hamilton, Ontario

3 Bedrooms1 Bathrooms1196 sqft

Discover the inviting ambiance of 15 Lincoln Street! This charming property boasts new flooring throughout, elevating its aesthetic appeal. The updated kitchen, adorned with granite counters and sleek stainless steel appliances, adds a touch of modernity and functionality. The bathroom has been tastefully renovated, offering a refreshed atmosphere. Embrace the spacious open-concept living area, perfect for entertaining or unwinding in style. Enjoy the convenience of a central location, with easy access to nearby amenities. Natural light floods the interior, enhanced by strategically placed pot lights, creating a warm and inviting atmosphere. Don't miss this opportunity to call 15 Lincoln Street home! Close to many amenities including Transit, Shopping, Hospital, Schools and more. (id:51158)

For Sale$425,000

125 Shoreview Place Place Unit# 404

Hamilton, Ontario

2 Bedrooms1 Bathrooms650 sqft

Live by the Lake!!! Breathtaking views of Lake Ontario from the Balcony and steps away from the Public Beach. This suite is Ideal for the First Time home buyers or investors, with quick access to QEW and GO Station (Confederation GO). Proximity to Mohawk College and Smart Centres Stoney Creek (Walmart, Home Depot,Restaurants etc.). Nearby walking trails, and a sandy beach just minutes away. Conveniently located for commuters with easy access to the QEW and a new Go Station nearby. Condo fees include geothermal heating and cooling. (id:51158)

For Sale$349,900

29 Sherman Avenue S Unit# 6

Hamilton, Ontario

2 Bedrooms1 Bathrooms560 sqft

Location, Location, Location! Attention all first-time buyers, or downsizers! You asked for affordability? You got it! Nestled in Hamilton’s “Stipley South Neighbourhood”, you will find your new home! This well maintained 2 Bedroom condo, is oozing with charm and character! Features include: Gleaming Hardwood Floors; Bleached Oak Kitchen Cupboards; lots of Natural light and carpet free! A handy rear entrance makes it easy to bring in your groceries from your owned parking spot! Coin operated laundry facilities on the premises. Minutes to Shopping, Restaurants, Tim Horton’s Field and steps to Public Transit, including Hamilton’s proposed LRT!! Nothing to do but move in and enjoy! Shop and compare – you’ll love what this cute and spotless building has to offer! (id:51158)

For Sale$459,900

260 Bay Street S Unit# 1

Hamilton, Ontario

2 Bedrooms1 Bathrooms1061 sqft

Welcome to The Annex! This Bright Spacious Lower Level Two Bedroom Unit Will Not Disappoint. Freshly Painted, Carpet Free, Large WindowsThroughout Brings In Tons Of Natural Light, Huge Kitchen Island With Granite Countertop Great For MealPrep And Extra Seating, Stainless Steel Appliances With Custom Backsplash. Cozy Living Room withFireplace, Large Closets In Both Bedrooms, Ensuite Laundry With Custom Shelving, Hot Water TankOwned(2023), Locker, Security System And Parking. Enjoy The Roof Top Garden Patio With Lots Of Seating, Outdoor Lights and Amazing Views Of The City. Close To HWY 403, McMaster University,Mohawk College, St. Joseph’s Hospital, Walk To Trendy Locke Street, Enjoy Restaurants And Cafes, CloseTo Parks, Transit, Bike Path, Grocery and MORE! (id:51158)