Toronto's real estate market may still be one of the most unaffordable in the world, but it's seen a noticeable decline over the past year. While the biggest drops have been in the condo market — which has suffered after its peak driven by investors — there's now an abundance of listings, giving buyers a lot more options.

Though prices have remained relatively flat due to a lack of significant activity, there’s still room for negotiation. In fact, several neighbourhoods are seeing even detached homes fall below the crucial $1 million mark.

A recent market analysis has shared a list of these more affordable areas, which are perfect for anyone looking to buy on a budget.

The cheapest place in the GTA for single-family homes right now is Central Oshawa, where you can snag a house for about $655,000 — less than the cost of a typical condo in most of the region, including downtown Toronto. Other affordable spots in Oshawa include Eastdale-Donevan and Windfields, with median home prices of $760,000 and $782,500, respectively.

By comparison, the average price for a detached home in the GTA was around $1,377,430 in January 2025, while a semi-detached home is about $1,047,728. In the 416 area, those numbers jump to $1,579,386 and $1,154,505, respectively.

The analysis also found that out of over 400 neighbourhoods, only 53 had single-family homes selling for under $1 million. Additionally, 64% of prospective buyers said they’d prefer a house over a condo.