Yahoo Finance Where GO Train riders can find the most affordable homes
The high cost of home ownership in Toronto means 416ers are increasingly heading for the burbs. For many Ontario commuters, GO Transit is the best way into the city for work. Especially considering the average house within city limits fetched an average of $1,320,333 in 2018.
Even the average condo is going for $593,366.
Recent numbers from Metrolinx show GO transit moved 56.5 million passengers in 2018. Zoocasa crunched the numbers to find the best deals by collecting sold prices and listings within a two-kilometre radius from each of the province’s 66 GO Train stations.
It also looked at commute times based on a weekday 8:30ish arrival at Union Station.
Bargain hunters better prepare for long commutes. The GO Train stop with the lowest average home prices is West Harbour at $365,927, with a commute time of 71 minutes. It’s followed by Kitchener at $403,907 and 111 minutes and Hamilton at $414,372 and 72 minutes.
“Typically, buyers can expect to find either newer condos or older homes from the early 1900s within 2 km of Kitchener and Guelph GO Train stations,” said Brendan Clark, Zoocasa agent in Kitchener-Waterloo and Guelph, in the report.
“Near Kitchener, these homes are typically appealing to young professionals working for local tech companies like Google or at Communitech, and in Guelph, to young families and professionals that can work remotely and only go to offices in Toronto a few times a week.”
The only stop in the top five with a commute time of close to 30 minutes is Cooksville, where the average price of a home is $473,874.
King City is the most expensive at $1,595,656, and a 43-minute commute. Port Credit is next at $1,361,029, and 25 minutes. Lincolnville is a bit of an outlier in third at $1,308,108, but with a 79-minute commute.
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