Wasaga Beach has made a splash.
The Georgian Bay community, according to Zolo, an independent real estate marketplace, was the most affordable city in Ontario last month.
Zolo says it analyzed economic data for 180 Ontario cities by examining home prices, unemployment rates and population growth.
Wasaga Beach led the pack as the province's most affordable city, with the average price for a home at $325,189. The average income is $91,900, and Zolo says homeowners will be able to pay off their purchase in just over 3.5 years.
The next three most affordable cities are in eastern Ontario - Nepean, Casselman and Ottawa.
Zolo also broke down the most affordable cities by size.
In the large category, the most affordable cites are Nepean, Ottawa and Kanata. The top medium-sized cities with populations between 30,000 and 100,000 on the list are LaSalle, near Windsor, followed by Stratford and Woodstock. The top three small cities on the list are Wasaga Beach, Casselman and Mount Forest.
Barrie ranked number 57 with an average price for a home at $755,532. The average income is $111,600, and Zolo says homeowners will be able to pay off their purchase in just under seven years.
New Liskeard, in northern Ontario, ranked as the least affordable in the province.
The average home price in New Liskeard is listed at $2,291,000 while the average household income is $92,000.
Zolo report: https://www.zolo.ca/blog/most-affordable-cities-ontario#the-complete-list-of-most-affordable-cities-in-ontario
TOP 10 LIST OF MOST AFFORDABLE CITIES
Wasaga Beach
Nepean
Casselman
Ottawa
Mount Forest
Kincardine
Napean
LaSalle
Ingersoll
Capreol
