Best Places to Live in Ontario

Does the Ontario real estate market offer some of the best cities to live and work? Most definitely. In fact, in our list of the best places to live in Ontario, you’ll find a little bit of everything: big cities, small towns, and lots of options in between. The province, which has long functioned as the economic engine of Canada – it accounted for 38.16 per cent of the country’s GDP in 2023 – remains one of the most desired places to live in Canada today due to its publicly-funded health and elementary and secondary educational systems, and its diversity, which runs the gamut from cultural to biological and geographical. It’s where millions of people, including those from across the globe, come to plant new roots. But whether you have just arrived in this great country or are looking to relocate somewhere else in the Ontario housing market, let’s take a look at some of the best towns to live in Ontario.

The Best Places to Live in Ontario

We’ll preface this list by saying our selections are, of course, open to interpretation, but here are what we believe are the five best cities to choose from in the Ontario real estate market today:

Toronto

Toronto is Canada’s largest city and is known for its cosmopolitan feel. It has a strong economy, a thriving arts culture, a wide range of restaurants offering cuisines derived from the multicultural roots of its residents, and extensive shopping opportunities – whether you prefer strolling through stores in multi-floored malls or looking for one-of-a-kind items down neighbourhood side streets. Toronto also has an extensive public transportation system, some of the best universities in the country, and many beaches, parks, recreation centres, art galleries, and museums.

With its diverse ethnic makeup and top job opportunities, Toronto is one of the best places for young adults to live in Ontario, and it is already popular among students, single people, and young couples. One thing to remember, though, is that the cost of living in Toronto can be high, with rent and real estate prices among the most expensive in Canada.

Toronto is a true metropolis and is popular among tourists from all over the world as well. The traffic can be a headache for locals, but because almost all areas of the city can be reached by subway, streetcar or bus, there’s always a relatively easy way to get to where you need to go in a timely manner.

But how much does it cost to live in North America’s fourth-largest city? It will depend on your home of choice. The MLS® Home Price Index Composite benchmark was down by 3.3 per cent year-over-year in October 2024, but the average selling price was up by 1.1 per cent compared to October 2023 to $1,135,215.

As of October 2024, average prices for various residential categories in Toronto were:

• Detached: $1,462,838
• Semi-Detached: $1,108,376
• Townhome: $920,201
• Condo: $694,038

Prices don’t seem to be dissuading buyers, as GTA home sales, as reported through TRREB’s MLS® System in October 2024, were up by 44.4 per cent compared to October 2023.

Ottawa

Ottawa, the capital of Canada, is the fourth largest city in Ontario and offers its residents a high quality of life along with a strong economy. Known for its museums, galleries, theatres, and numerous festivals and activities, Ottawa also has an abundance of green spaces and many large parks, suitable for everything from dog-walking and picnicking to playing soccer, baseball and flag frisbee. Because of its proximity to the Gatineau hills, residents can also hike, canoe, and camp in warm weather. They can also enjoy snowboarding, cross-country, and downhill skiing in the winter. And when the Rideau Canal freezes over, residents and tourists alike can enjoy skating on a 7.8-kilometre rink that winds through the city.

Ottawa is one of Ontario’s best places to live because it’s clean and safe. The crime rate is meagre, and the standard of living is relatively high. The city has an excellent public transportation system, and some of the best schools and universities in Canada are also located in Ottawa. The cost of living in Ottawa is comparatively lower than in Toronto or Vancouver. Compared to other cities in Ontario, the unemployment rate is also much lower in Ottawa, and job opportunities abound in the high-tech, healthcare and educational fields. Ottawa is an important city for politicians and policymakers, with hiring in the government sector as well.

In the nation’s capital, home prices are slightly below the national average. Ottawa Real Estate Board (OREB) data show that the benchmark price was $639,500 in October 2024, an increase of 0.4 per cent from October 2023.

As of October 2024, average prices for various residential categories in Ottawa were:

• Detached: $724,500
• Townhome: $506,900
• Condo: $407,500

Hamilton

Hamilton, located on the west end of Lake Ontario, is another RE/MAX selection for one of the best towns to live in Ontario. Nicknamed “Steeltown” for its long history of steel manufacturing, the city also has a vibrant arts culture and is popular for its natural surroundings. Compared to Toronto, Ottawa and Vancouver, Hamilton is relatively more affordable in terms of housing. The city also offers excellent schools and a thriving economy. It is a relatively newer city than Toronto but still has a strong sense of community and a small-town-like feel. Several parks, hiking trails, and outdoor recreational activities exist in Hamilton. The city has a better cost of living than Toronto and Ottawa, and housing prices are much lower here than in other areas of Ontario. Like other cities, Hamilton also has excellent schools and a solid public transportation system. Finally, with a population of just over 700,000 residents as of Fall 2024, Hamilton experiences less traffic than cities like Toronto or Vancouver.

For years, the Hamilton real estate market had been one of Ontario’s best-kept secrets. However, conditions changed around the late 2000s, with young families migrating from the Greater Toronto Area to Hamilton. After nearly two decades, exceptional demand has lifted home prices, with the average cost of a residential property in Hamilton reaching $821,512 in October 2024, a 5.3-per-cent increase from the same period in 2023, according to the Cornerstone Association of Realtors.

This might not seem very comforting at first, but there are plenty of options for homebuying in the growing Ontario city. While a detached home is selling for more than $826,700, local Real Estate Association statistics indicate that you can nab a semi-detached for $710,350 and a townhome for less than $675,032. Or, if condo living suits your lifestyle, the average price is less than $483,202.

Waterloo

Waterloo is located in southwestern Ontario and boasts a thriving tech industry. Ontario’s two most sought-after universities are located in Waterloo, and the city boasts a highly educated population overall. Waterloo offers a high quality of life with numerous parks, green spaces, galleries, theatres, excellent healthcare facilities, a low crime rate, and clean streets with a mix of Ranch, Victorian and Mennonite Georgian styles sprinkled among more contemporary-styled homes and condos.

Because of the university and tech culture, Waterloo, like Toronto, is one of the best places to live in Ontario for young adults and is especially popular among young professionals who want to work in Toronto and still be able to purchase a home in Waterloo without depleting their savings accounts. Waterloo is ideal for those who do not like the hustle and bustle of a city like Toronto and for families who would prefer to raise their children in a quieter setting.

In October 2024, data from the Waterloo Region Association of Realtors shows that the average sale price for all homes in the Waterloo real estate market was $779,008, a 1.4-per-cent increase compared to October 2023 but a 1.4-per-cent decrease compared to September 2024. Housing supply, while less than optimum (like in most areas in Canada), is improving – particularly for the condo segment – resulting in plenty of opportunities for most buyers to find a home that suits their needs. The average price of a detached home was $885,587. However, the average sale price for a townhome ($643,382) and semi-attached ($650,098) were both below $700,000. The average sale price for an apartment-style condo was $484,429, a 1.8-per-cent increase from the previous year.

Kingston

Kingston is known for its beautiful architecture and rich cultural heritage, and it boasts some of Ontario’s best schools and universities. There is a strong sense of community, numerous parks and hiking trails, and many outdoor recreational options. There are museums and galleries, friendly neighbourhoods, and relatively cheaper housing as a pleasant bonus. Kingston also has a solid public transportation system.

The city suits families and students because of its safe streets, low crime rate, beautiful architecture, and high-quality educational institutions. With more restaurants per capita than any other place in Canada and as a gateway to the Thousand Islands, Kingston is also popular among tourists and provides significant opportunities for local retailers and small businesses.

While the average home prices are still above their pre-pandemic levels, they have come down from their early 2022 peak. According to the Kingston and Area Real Estate Association, the average residential price as of October 2024 was $621,755, a 6.2% increase from October 2023. Single-family homes sold for an average of $710,247, while the benchmark price for townhomes was $533,950, and apartment-style units had sold, on average, for around $417,300.

Opportunities in the Ontario Real Estate Market

What’s the best city to live in Ontario? Although it can appear to be expensive at the onset, a more thorough investigation into the Ontario real estate market suggests that there are numerous opportunities for prospective homebuyers of all types to plant new roots and find the home of their dreams. Whether it is in the Golden Horseshoe or the nation’s capital, Ontario is certainly yours to discover. It just requires a bit of research, patience, and the help of an experienced real estate agent.

Ready to explore the Ontario housing market?

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