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

150 results | Page 2 of 13

12 24 48

Search/Filter Properties

All Property TypesAgricultureBusinessHospitalityIndustrialInstitutional - Special PurposeMulti-familyOfficeOtherParkingRetailSingle FamilyVacant Land

All Transaction TypesFor LeaseFor RentFor SaleFor Sale Or Rent

All Building TypesApartmentCommercial ApartmentDuplexFourplexHouseMobile HomeModularMulti-FamilyMulti-Tenant IndustrialNo BuildingOfficesOtherParkingResidential 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$409,000

150 Main Street West Street Unit# 715

Hamilton, Ontario

1 Bedrooms1 Bathrooms600 sqft

Perfect location in the in Hamilton core! This modern designed one bedroom condo with spacious rooms and in suite laundry and storage is the one you've been waiting for. Lots of upgrades include granite countertops, 9 foot tray ceilings and stainless steal appliances. Conveniently located, this condo provides easy access to transit and major highways, making commuting a breeze. Positioned just 4 kilometers from McMaster University's main campus and 3.7 kilometers from Mohawk College, this is an ideal space for students. (id:51158)

For Sale$489,900

3504 Hurontario Street Unit# 1510

Mississauga, Ontario

2 Bedrooms1 Bathrooms670 sqft

This immaculate condo at 1510-3504 Hurontario St places you in the vibrant heart of Mississauga, just steps from Square One Shopping Centre! The bright, well-designed layout features a spacious bedroom plus a full den—ideal for a home office or additional living space. Newer flooring sets a fresh tone throughout, while the kitchen’s stainless steel appliances, granite countertops, subway-tile backsplash and convenient breakfast bar create a stylish and functional hub for cooking and entertaining. Natural light floods the living/dining area through a large window, making the space feel open and inviting. From both the bedroom and the living room, step out onto the balcony and enjoy serene views—a perfect place to unwind after a busy day. Completing this unit is a lovely 4-piece bathroom with a shower/tub combo. The upscale building delivers exceptional amenities including a billiards room, fully equipped gym, pool, sauna and children’s playground, ensuring a comprehensive lifestyle right at home. Elm Public School and Family Day Nursery are both just a short walk away, providing an ideal setting for those with children. Effortless transportation is guaranteed with Cooksville GO Station just a short distance away and the upcoming LRT will only add to the ease of getting around the city. Secure underground parking provides peace of mind, while the included HEAT, HYDRO and WATER plus a 24-hour staffed front desk complete the worry-free experience. This condo truly checks all the boxes—don’t miss your chance to call it home! (id:51158)

For Sale$474,900

5220 Dundas Street Unit# D509

Burlington, Ontario

2 Bedrooms1 Bathrooms619 sqft

MODERN 1 Bedroom + den conveniently located on the Burlington/Oakville Border. Perfect for the first-time or downsizing buyers. Open concept, 7 years new, this unit has been gently lived in by its original owner. Trendy kitchen with quartz countertops, stainless steel appliances and new backsplash. The Den is perfect for a home office. Wood-like flooring throughout. The floor to ceiling windows and high ceilings make this property very bright without having too much direct sunlight. The balcony has great eastern views and over looks the courtyard. (id:51158)

For Sale$365,000

350 Quigley Road Unit# 712

Hamilton, Ontario

3 Bedrooms1 Bathrooms1152 sqft

Thinking of a Condo lifestyle? An opportunity to own one of the largest layouts in the building. Coming in at 1150 sq ft, this unique 3-bedroom 2-story townhome is Perfect for commuters, as the location offers easy access to the Redhill Parkway and QEW, with plenty of walking trails nearby. The building boasts stunning views of greenspace and the surrounding area, with a spacious master bedroom, including newer windows, patio door and firedoor. The open-concept living/dining area and well-sized kitchen come with a brand new stove and fridge. There is space and hook-ups in the unit to bring a dishwasher, washer and dryer. There is also a bonus closet under the stairs that can be used as a walk-in pantry or added storage. The unit comes with one underground parking space, and a large storage locker in the basement. The building amenities include a basketball court (with nets in a covered area), a community garden, bike storage, a party room, children's playground and community BBQ's. The two-story layout and outdoor sky streets give the building a townhome feel, and being pet-friendly, you can have it all and your furry friends! Located in East Hamilton, close to schools, parks, shopping, and major highways, this is an affordable option with everything you need. (id:51158)

For Sale$499,900

467 Charlton Avenue E Unit# 305

Hamilton, Ontario

2 Bedrooms2 Bathrooms796 sqft

Fantastic Location! On bus route, close to St Joseph’s Healthcare, schools and shopping. Third Floor Unit with stunning views of Hamilton and waterfront. Stylish building complete with Gym, Meeting Room, Communal Space with BBQ and outdoor seating, abundance of visitor parking. Parking spot 67 and locker 9 are owned with the unit. Living space feature 2 bedroom (one has movable walls for alternate use), 2 bathroom and quartz countertops. Quiet living in a great central location. (id:51158)

For Sale$449,900

180 Limeridge Road W Unit# 602

Hamilton, Ontario

2 Bedrooms1 Bathrooms980 sqft

Totally re furbished 2 Bedroom and One Bath Unit on 6th Floor with North East Exposure over looking Captain Cornelius Park, Freshly painted and decorated thro out with New Broadloom January 2025; New Furnace and Central Air Unit June 2024; Open Concept Liv. Rm./ Dining Rm. with Expansive Windows providing ample natural light and panoramic views of Park Land and Hamilton Mountain; Extra Large Primary Bedroom with Double Closets and Cony. 2nd Bedroom with Double Closets; 5PC Bath With separate Shower; Convenient In Suite Laundry; Exclusive Pkg Space No. 44 in secure Underground Pkg. Plus Locker Space 602; This Robinson Built Condo on Popular West Mountain Location set on Park Like Setting; Ideal Location with easy access to Linc i 403 Hwy close to Mohawk College and Hillfield Strathallan; Public Transit and More! (id:51158)

For Sale$424,900

1115 Paramount Drive Unit# 103

Hamilton, Ontario

3 Bedrooms2 Bathrooms1324 sqft

This beautiful street-facing townhouse on Paramount offers the perfect combination of modern living and convenience. With visitor parking right at your doorstep, you'll enjoy easy access to everything you need. Inside, the home features three spacious bedrooms, two updated bathrooms, and a bright, open main floor with brand-new flooring. Step outside onto your private walkout balcony, the perfect spot to relax and take in the views. Recent updates include a new A/C unit (2023), a new furnace (2024), a new roof (2023), updated windows (2022), and a fresh new front door (2023). The location couldn’t be more ideal—minutes from top-rated schools, parks, and hiking trails, with easy access to highways and the bustling Heritage Green Sports Park. Plus, enjoy the nearby community dog park and Taro’s Falls, Shopping, all just around the corner. This is an incredible opportunity to own a home that offers both style and convenience in one of the most sought-after areas of Stoney Creek. Don’t miss your chance to make it yours at this amazing value! (id:51158)

For Sale$500,000

11 Colmar Place Unit# 12

Hamilton, Ontario

3 Bedrooms2 Bathrooms1533 sqft

Welcome to 11 Colmar Place – A Hidden Gem in Dundas. Nestled on a peaceful cul-de-sac in the heart of Dundas, 11 Colmar Place offers the perfect balance of tranquility and convenience. Located just steps from University Gardens Plaza and a short stroll to the vibrant downtown scene, you’ll enjoy the ease of running errands, delightful dining options, and an array of activities for your perfect night out. This well-cared-for townhome is an incredible opportunity to enter the market. Boasting over 1,500 sq. ft. of total finished living space (including basement), it features: 2+1 bedrooms, 2 full bathrooms, a fully finished basement, exclusive parking spot #12 and guest parking. Inside, you’ll find thoughtful updates, including a modernized kitchen with stainless steel appliance. The furnace, air conditioner, and water tank (all updated approximately in 2014). The home also offers plenty of storage space, a spacious laundry room with a utility sink, and ample closets to keep everything organized. Enjoy low condo fees and the benefits of living in a community surrounded by green space, including a charming front courtyard and backyard access. At the end of the street, you’ll find Sheldon Manor Park, complete with a playground perfect for gathering with neighbours and friends. Whether you’re looking to connect, unwind, or explore, Colmar Place is the place to be. Come and see what all the fuss is about – book your showing today! (id:51158)

For Sale$419,777

479 Charlton Avenue East Unit# 101

Hamilton, Ontario

2 Bedrooms1 Bathrooms672 sqft

Nestled in a prime location, this 1 bedroom plus den, 1 bathroom condo offers an exceptional blend of comfort, accessibility, and breathtaking natural beauty. Boasting a serene Southern view of the escarpment with sun all day long, this home invites you to experience tranquility like never before. Designed with accessibility in mind, this condo ensures ease of movement for residents with mobility needs. Wide doorways and spacious living areas allow for comfortable and convenient living. The additional den space can be transformed to suit your needs - an ideal home office, guest room, or a cozy reading nook. The possibilities are endless! Conveniently located near shopping, dining, and entertainment options, ensuring all your needs are met within a short distance. Embrace an active lifestyle with nearby trails and parks, perfect for leisurely strolls and outdoor activities. With quick access to major transportation routes, commuting to work or exploring nearby areas is a breeze. (id:51158)

For Sale$459,950

1968 Main Street W Unit# 409

Hamilton, Ontario

3 Bedrooms2 Bathrooms1160 sqft

STUNNINGLY PREVIOUSLY RENOVATED 3 BEDROOM 2 BATHROOM UNIT WITH BEST VIEWS IN THE COMPLEX OVERLOOKING RAVINE. WALKING DISTANCE TO TRAILS, WATERFALLS AND ALL NATURE HAS TO OFFER INCLUDING MCMASTER FOREST NATURE PRESERVE, SHAVER FALLS, TIFFANY FALLS CONSERVATION, SCENIC WATERFALL, IROQUOIA HEIGHTS AREA. THIS RENOVATED OPEN CONCEPT UNIT IS THE LARGEST FLOOR PLAN IN THE BUILDING WITH APPROX. 1092 SQ. FT OF LIVING SPACE. THIS OPEN CONCEPT UNIT FEATURES HUGE KITCHEN ISLAND WITH GRANITE COUNTER TOPS, STAINLESS STEEL FRIDGE, BUILT-IN CONVECTION OVEN WITH INDUCTION COOKTOP, BUILT IN MICROWAVE DRAWER, WALL-MOUNT CANOPY RANGE HOOD. GORGEOUS HARDWOOD FLOOR THROUGHOUT, ALL UPDATED LIGHT FIXTURES, AND CUSTOM WINDOW COVERINGS. THE COMPLEX FEATURES INDOOR SALT WATER POOL, SAUNA'S, TENNIS COURT, PARTY ROOM AND SO MUCH MORE . THE UNIT HAS 1 LOCKER (#83 LEVEL 1) AND 1 UNDERGROUND PARKING SPOT NEXT TO ENTRANCE (#22P2 LEVEL B) , AND TONS OF OUTDOOR VISITOR PARKING. THIS HOME MUST BE SEEN!! CALL TODAY FOR YOUR PERSONAL PROPERTY TOUR.****NOTE, THE SPECIAL ASSESSMENT WILL BE PAID OFF ON CLOSING. (id:51158)

For Sale$429,900

66 Bay Street S Unit# 613

Hamilton, Ontario

2 Bedrooms1 Bathrooms836 sqft

Experience urban living at its finest at the Core Lofts! Right in the heart of downtown Hamilton this prime location offers unparalleled convenience access to the city's best attractions. Large open concept one bedroom plus den unit. 10+ ft ceilings, over 800 sqft living. Floor to ceiling windows with Juliette balcony. Large eat-in kitchen with granite counters, stainless steel appliances. Den could be used as an office or potential second bedroom. In suite laundry. Locker included. Building amenities include rooftop patio with BBQ, Gym and Party Room. Steps away from shopping and entertainment. A diverse array of dining options, many within walking distance. Highlights include: Hamilton Waterfront & Pier 4, beloved Locke St hotspots, growing and eclectic James St N known for art galleries and cultural festivals, discover the lively nightlife and unique bars of Hess Village, attend events at the AGO, Convention Centre or First Ontario Place. Don't miss this opportunity to live in a vibrant and convenient downtown location, surrounded by all the best Hamilton has to offer. (id:51158)

For Sale$425,000

33 Clyde Street

Hamilton, Ontario

3 Bedrooms1 Bathrooms1039 sqft

Looking to enter the market for the first time or relocate to Hamilton?? Look no further than this beautifully maintained three bedroom home in Hamilton's Landsdale neighborhood! This well appointed home provides a turn-key opportunity for a young family to lay down their roots. The current owner has thoughtfully cared for the property for decades. You are immediately greeted by a charming living room and dining room upon entry. Two bedrooms are on the main floor with the third located on the second level. The home can easily be modernized while maintaining its historic charm. A separate side entrance leads to the basement, which is equipped with it's own kitchen and living room. This sizable lot features a large backyard with limitless potential. The convenient location offers quick and easy access to major highways, numerous grocery and shopping options, and Hamilton's downtown core. Home is being sold as is where is. Don't miss out on this amazing opportunity! (id:51158)