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 3 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$349,900

5 East 36th Street Unit# 205c

Hamilton, Ontario

2 Bedrooms1 Bathrooms720 sqft

Discover incredible million dollar cityscape views, from this coveted second-floor, 2-bedroom suite filled with natural light. Situated in a convenient mountain neighborhood, you're just steps away from the trendy shops on Concession St. and the picturesque Mountain Brow trails. The large living and dining area offers spectacular views of Hamilton, Lake Ontario, and even Toronto. The kitchen is designed for functionality with ample cabinetry. The spacious primary bedroom features incredible views, complemented by a full 4-piece bathroom and a second bedroom. The Eastbrow Cooperative's private grounds are meticulously maintained, with beautiful gardens and a fenced yard offering easy access to walking and biking paths. With excellent transit connections and all amenities close by, surface and garage parking are also available. Don't miss out—book your showing today! (id:51158)

For Sale$415,000

21 East Avenue S Unit# 302

Hamilton, Ontario

2 Bedrooms2 Bathrooms1036 sqft

Discover your new home in this bright and inviting 2-bedroom, 2-bathroom condo just outside the Hamilton core. This stunning open-concept space boasts an abundance of natural light, making it the perfect sanctuary for relaxation and entertaining. Step into a recently upgraded kitchen featuring elegant quartz countertops, ideal for culinary adventures. The thoughtful removal of the kitchen wall enhances the airy feel, connecting the kitchen seamlessly to the living and dining areas. Freshly painted throughout, with stylish new closets and mirrors, this home exudes modern elegance. Enjoy the convenience of in-unit laundry, a spacious balcony for outdoor enjoyment, and the added security of underground parking. A large locker room provides ample storage for all your needs. Located within walking distance to public and Catholic schools, as well as essential amenities like Walmart, banks, and more, this condo offers both comfort and convenience. Included in the sale are all appliances (fridge, stove, washer & dryer), electric light fixtures, and window coverings, making this move-in ready home a rare find. Don't miss your chance to experience the perfect blend of style, comfort, and location—schedule a viewing today! (id:51158)

For Sale$389,900

121 King Street E Unit# 204

Hamilton, Ontario

1 Bedrooms1 Bathrooms545 sqft

Welcome to 121 King Street E, Unit #204, a stylish and modern loft-style condo in the heart of Hamilton’s vibrant downtown. This 545 sq ft unit offers an open-concept layout with soaring ceilings, exposed brick and beam accents, and a Juliette balcony that invites natural light to fill the space. The kitchen is equipped with stainless steel appliances, including a gas stove, and seamlessly integrates with the living and dining area, creating an ideal space for entertaining or relaxing. The bedroom offers comfort and privacy, complemented by a sleek 4-piece bathroom. This condo includes an exclusive parking spot and a locker, providing convenient storage solutions. Located within walking distance to arts centers, parks, trendy shops, and public transit, this unit is perfect for those seeking a dynamic urban lifestyle. The building features amenities such as an elevator, exercise room, and concierge/security. Don’t miss your chance to own this unique condo in the heart of Hamilton! (id:51158)

For Sale$459,900

198 Province Avenue N

Hamilton, Ontario

3 Bedrooms1 Bathrooms750 sqft

Renovated House offering three bedrooms, full washroom, Eat in kitchen with Quartz counter top and stainless steel appliances on the main floor. Large partially finished Basement, lots of storage space and laundry area. New paint , laminate flooring, no carpet and lots of pot lights. ESA certified electrical . House is at excellent location , close to Centre Mall, school, bus route and other amenities. Easy access to Highway through Burlington street . Room sizes and square feet are approximate. Approximately 750 SF finished living area including sun room and 450 SF partially finished Basement area. Room size measurements are taken at widest points. Buyer or Buyer's agent to verify Property Taxes for 2024. (id:51158)

For Sale$399,900

100 Burloak Drive Unit# 2407

Burlington, Ontario

2 Bedrooms1 Bathrooms745 sqft

Fantastic alternative for downsizing! Spacious 2 bdrm plus den layout with updated kitchen overlooking dining/living area! Walkout from Living Room to private balcony overlooking mature trees! Ensuite Laundry! Primary bdrm has walkin closet! Nicely renovated bathroom includes glass enclosed shower with seat and safety bars plus a high end bidet style toilet! Crown mouldings throughout and recently painted. Easy access with an automatic unit front door opener. Retirement l at it's best! hearthstone by the Lake resort style condo ownership. Clubhouse fee includes 1 hour of monthly housekeeping, $250 + meal/dining room credit (meals can also be delivered to your unit for a fee) shuttle service, library, pool, fitness facility, games/billiards room and beautiful outdoor courtyard! Access to on-site medical, pharmacy dispensary, handyman and emergency call system. (id:51158)

For Sale$449,900

73 Hope Avenue

Hamilton, Ontario

3 Bedrooms2 Bathrooms1151 sqft

Bright And Inviting 3 Bedroom Detached Home, With 2 Full Bathrooms And A Primary Bedroom On The Main Floor. A Perfect Starter Home, Close To All Amenities, Located In The Quiet Community of Homeside In East Hamilton. Highlights Of This Home Include A Large Living Room, A Spacious Primary Bedroom With A Wall To Wall Closet And 2 Bedrooms And A Large Main Bathroom, On 2nd Floor. (id:51158)

For Sale$446,000

200 Limeridge Road Unit# 306

Hamilton, Ontario

2 Bedrooms1 Bathrooms1053 sqft

Premium Apartment, 1053 sq/ft , 2 Bedrooms, 1 Full Baths, Insuite Laundry, Premium Finishes, 1 Parking Spot is included, Walking Distance to Everything, Transit in Front of the Building. Easy highway access/ to LINC, 403. Enjoy bright, spacious, carpet-free, one floor living on Hamilton's West Mountain! Beauty view, your wall of windows overlooking the Escarpment and green space. Hardwood flooring, Galley Style Kitchen, in-suite Laundry, Central A/C, DISH WASHER ,Plenty of Storage. Lobby security cameras, comfortable sitting area for guests, ample visitor parking. 1 underground parking space included. (id:51158)

For Sale$499,900

120 Duke Street Unit# 704

Hamilton, Ontario

2 Bedrooms2 Bathrooms1050 sqft

Prepare to be wowed with this newly renovated 2 bed 1.5 bath condo unit in one of West Hamilton's most prestigious buildings, The Durand. No detail was overlooked in this spacious and sun filled South facing unit, with a lovely view of the Niagara Escarpment. All new finishes incl. a contemporary designed kitchen featuring all new cabinetry, stone countertops, S/S appliances and an eat-in kitchen island that leads to the expansive open concept layout with the living/dining area, & the breathtaking view! Plenty of room for entertaining with, updated flooring, stylish light fixtures & smartly designed coffered ceilings with integrated pot lights. Enough room for an office nook, or a formal sitting area to enjoy! Two big and light filled bedrooms featuring oversized windows and light controlling shades. Newly renovated 4-piece bath featuring porcelain tile, a jacuzzi soaker tub and updated lighting. Additional features include in-suite laundry, linen closet, a large storage room/kitchen pantry, and an ideal powder room w/ exceptional finishes. Building amenities include a rarely offered and recently updated indoor pool, sauna, a full size gym, party room, outdoor patio and BBQ area for outdoor enjoyment! So many great Hamilton spots within walking distance including Hess Village, Downtown Hamilton and Locke Street shops, & great access to public transportation, the downtown GO station and with McMaster and 403 access just a few short minutes away. Offers anytime! Truly a must see! Book your showing today! (id:51158)

For Sale$359,000

81 Charlton Street E Unit# 101

Hamilton, Ontario

2 Bedrooms1 Bathrooms760 sqft

#101- 81 Charlton Avenue, East, Hamilton, ON Introducing this charming 2-bed, 1-bath unit nestled in the heart of downtown Hamilton, strategically located close to many amenities and GoTransit. With St. Joes' Hospital and vibrant shops, restaurants, and cultural attractions just steps away. One of the standout features of this apartment is undoubtedly the huge balcony that is perfect for sipping your morning coffee. Enjoy the convenience of a dedicated underground parking spot. You will have everything at your fingertips don't miss the opportunity to make this your new home. (id:51158)

For Sale$389,900

100 Burloak Drive Unit# 2505

Burlington, Ontario

1 Bedrooms1 Bathrooms806 sqft

Welcome to Hearthstone by the Lake Retirement Community – where independent living meets convenience and comfort. Whether you prefer to maintain a fully independent lifestyle or take advantage of the community's extensive amenities, this unit is the perfect place to call home. The spacious, open-concept layout features 9-foot ceilings and large windows, allowing for plenty of natural light. Enjoy preparing meals in the full kitchen, hosting family in the separate dining room, or relaxing in the expansive living room, which opens onto a private, treed balcony with a serene NorthWest exposure. The generously sized bedroom includes a walk-in closet, and the convenience of in-suite laundry adds to the ease of living. This unit also comes with an underground parking space and a private locker for extra storage. As part of the Hearthstone community, you will benefit from a range of amenities included in your Hearthstone Club Fee including monthly housekeeping (1 hour), a $250 meal/dining credit (incl tax), shuttle service for local transportation, on-site handyman services, 24-hour emergency nursing and an emergency call system, Concierge and wellness centre offering an exercise room, indoor pool, and games room, cozy library and dining lounge, both complete with fireplaces. Residents can also relax in the beautifully landscaped grounds, complete with a courtyard, outdoor patio areas, and a charming gazebo. Plus, all of this is just steps away from the lake, offering you a peaceful lakeside lifestyle. Hearthstone by the Lake offers the perfect blend of independence and support, creating an ideal environment for your retirement years. Experience comfort, convenience, and community—all in a stunning location! (id:51158)

For Sale$499,990

2081 Fairview Street Unit# 1704

Burlington, Ontario

1 Bedrooms1 Bathrooms556 sqft

This bright and modern 1-bedroom unit offers a perfect blend of luxury and convenience in the heart of Burlington. Located just steps from shopping, restaurants, and amenities this condo is a true gem. As you enter this open-concept layout, you'll be greeted by abundant natural light streaming through the floor-to-ceiling windows. The south facing balcony is ideal for relaxing with a morning coffee. The gourmet kitchen is a chef's delight, boasting sleek stainless steel appliances including a built-in oven and built-in cooktop, elegant quartz countertops, and ample storage space. The kitchen island doubles as a breakfast bar, perfect for casual dining or entertaining guests. Paradigm Condos is not just about the unit - enjoy an array of incredible amenities, including an indoor pool, hot tub, sauna, theatre, and a state-of-the-art fitness centre with an indoor basketball court gym. Host gatherings in one of the two party rooms, relax in the sky lounge, or enjoy outdoor BBQs on the patio. Additional features include guest suites, 24-hour concierge service, and visitor parking. This condo also comes with an owned parking space and two spacious lockers for your convenience. On-site Electric Car Charging Stations in the garage! With direct access to Burlington GO and proximity to major highways, commuting is a breeze. Don’t miss out on this exceptional opportunity to own a slice of luxury living in Burlington. (id:51158)

For Sale$499,000

81 Robinson Street Unit# 103

Hamilton, Ontario

2 Bedrooms2 Bathrooms875 sqft

Appraised at $619,000. Great Deal! Priced to sell. Trendy location! Tribeca main floor corner unit - main floor is great for convenience at street level - allowing for less elevator wait times! 2 Bed 2 full Baths master w/ensuite grand 13ft ceilings - beautiful finishes, custom blinds single Underground parking spot locker this layout is rarely offered only 4 in the building - walk to Locke and James restaurants St Joseph Hospital, great for investment for McMaster student & easy access to hwys. Gym, party room, bike storage in lovely Durand neighbourhood. (id:51158)