toronto houses For some its an indicator of economic health, for others it’s an almost insurmountable barrier to purchasing a home and for a couple folks it’s a sign of doom. Yes, Toronto home prices are high and that high number means something different to many groups of people.

But while Torontonians may complain, brag, or gaze in awe at the median home prices in the city, are they really that high?

Toronto Life took a look at the median home price in Toronto and compared it to a list of the most expensive housing markets in the US compiled by Business Insider.

The result? On the American list of fifteen, Toronto would land at number eight, forcing Suffolk-Nassau, New York to number nine. Toronto’s median home price of $399,450 ($389,000 USD) wasn’t enough to move any farther up the list as Bridgeport, Connecticut held on to its number seven spot with a median home price of $390,000.

New York City ($450,000) ranked at number two, decisively kept from the number one spot by San Fransisco ($585,000). We guess living in the most beautiful city in the country comes with a hefty price tag.

We also decided to add on a little extra data to spice things up a bit. We wanted to know just how much more New Yorkers pay for a condo in the city. The average price per square foot in New York City was $1,240 as of May 2012. The average price per square foot in the GTA is sitting at $519 (as of Q1 2012).

Gives you a little perspective, right?

Developments featured in this article

More Like This

Facebook Chatter