Are you wondering how much homes cost within walking distance of the TTC in 2024? With more people returning to on-site work, commuting by public transit is on the rise. According to Stats Can, the number of commuters taking public transit in Toronto increased by 92.5% from May 2021 to May 2023. Proximity to public transportation is one of the most valuable features a home can offer. For Toronto homebuyers, living near one of the city’s 70 subway stops can make a property even more desirable. But how does this impact affordability?

To answer this, Zoocasa calculated the average 2024 sold prices for houses and condos within an 800-meter radius (about a 10-minute walk) of TTC subway stations. The data was sourced from the Toronto Regional Real Estate Board between January 1, 2024, and June 1, 2024. Only stations with three or more sold listings were included.

Affordable Homes in East and North Toronto

If you’re looking for the most affordable condo and house prices, head east. Condos near Kennedy Station are the least expensive, with an average price of $480,558. This is nearly $300,000 less than the average Toronto condo price in May 2024. Warden Station has the most affordable average home price at $1,050,631, followed by Victoria Park and Kennedy Stations.

Along Line 1, you can find condo deals north of St. Clair West. Average condo prices are below $600,000 near Eglinton West, Yorkdale, Wilson, and Finch West Stations. For those wanting to live closer to downtown, similar prices can be found near St. Andrew, Queen, and Dundas Stations.

“Properties near TTC stations represent strategic investment opportunities with significant potential for appreciation,” says Carrie Lysenko, Zoocasa CEO. “While some stations offer homes at lower-than-average prices, the overall convenience of living near transit hubs often comes with a higher price tag. Homebuyers and investors should carefully weigh these benefits against the associated costs to make informed decisions.”

High-Value Homes in Midtown Toronto

According to the latest TRREB report, the average price for a detached home in Toronto is $1,826,370. However, homes near Midtown Toronto subway stops can cost nearly double, especially along Line 1. Homes near Bloor-Yonge, Museum, Summerhill, and Rosedale Stations average above $3,000,000. York Mills Station tops the list with an average home price of $3,957,375. On Line 2, only Bay Station has an average home price exceeding $3,000,000.

For condos, prices are higher around Lawrence, Summerhill, or St. Clair Stations. These are the only stations with average condo prices above $1,500,000, with Lawrence Station having the highest at $1,759,147.

Choosing the Right Property Type

If living near Midtown Toronto is a must, consider a condo. Average condo prices can be half those of homes. Around Bloor-Yonge Station, the average home price is $3,483,578, while condos average $693,382. Similarly, homes around Museum Station average $3,809,000, but condos cost around $949,678.

Across the city, most average condo prices near subway stations are below $1M, making condos a great option for those wanting city convenience at a more affordable price.

Are you in the market for a condo in Toronto or the GTA? Give us a call today! Our experienced real estate agents can guide you through the condo-buying process.