Some enclaves are home to the wealthy and some to more middle class families. There are some neighborhoods in Toronto that are comprised of lower and working class people. The higher class enclaves are Yorkville, Rosedale and The Annex, to name a few. These stretch from downtown Toronto to northern Toronto. These enclaves feature luxury condominiums, upscale housing and high-end retail.

The downtown area which is comprised of the enclaves of Regent Park, St. James Town and Moss Park are mostly immigrants and low-income families. In the downtown enclaves there is a high amount of social housing and rentals.

 

 

Cabbagetown , Leslievilleand, Kensington Market and Riverdale are east of downtown and are comprised mostly of artists and the more cultural residents. There is a high percentage of middle to upper class homes, studio lofts and commercial areas.

The housing market in the middle of the suburbs consists or post World War 1 style small family houses and blocks of smaller style apartments. This municipality is called East York and is comprised of the neighborhoods of Thornton Park, Crescent Town and Weston.

 

 

Of course apartment and home values in Toronto will vary depending upon which municipality and which neighborhood you live in. The average two bedroom apartment rental would be between $1,551 and $1,730 per month. The average condo apartment rental would be between $1,066 for a studio and $2,218 for a three bedroom per month. Condo townhouses rental would be between $975 and $1,603 per month.
As far as buying a home, it is currently a buyers' market in Toronto. The average price for a home in the GTA (Greater Toronto Area) is about $368,000.00. A home stays on the market on average for 41 days in the GTA. Last year at this time a house in the GTA would only be on the market an average of 32 days. There are currently approximately 28,000 homes listed on the Toronto MLS System which is up from approximately 18,000 last year at this time.

Overall, glancing at the MLS listing for the GTA, you will see there are really no properties available below $199,000 and even this is a rarity to find. Most properties listed are between $340,000 and $600,000. Despite the current economy however, buying property in Toronto is still a good investment.