Bungalow vs Two-Storey in the GTA (2027): Which Should You Buy?

By Jatin Dua · Broker of Record, RE/MAX Quantum Realty · Updated 2 November 2026 · 9 min read — Bungalow vs two-storey in the GTA: the typical bungalow cost $251,300 less in September 2026 and has grown more slowly since 2016.

This guide is for GTA buyers trying to decide between a bungalow and a two-storey house in 2027, and for owners wondering which style holds its value better. You will get the latest price benchmarks for one-storey and two-storey homes across the GTA, how each has performed since 2016, what each costs to buy and own, and a plain answer on who should pick which.

Are bungalows worth more than two-storey homes in the GTA?

No, not in total price. The typical one-storey home in the Greater Toronto area was valued at $917,600 in September 2026, against $1,168,900 for the typical two-storey home. That is a gap of $251,300, so the benchmark bungalow cost about 78.5% of the benchmark two-storey.

These figures come from the MLS Home Price Index (HPI), published by the Canadian Real Estate Association (CREA). The HPI tracks a “benchmark” home, a typical house defined from the features of homes that actually sold, rather than an average of whatever sold that month. That makes it the fairest public comparison of the two styles.

Source: CREA MLS Home Price Index, not seasonally adjusted, Greater Toronto area, September 2026 data (October 2026 release). Percentage changes are my calculation from CREA’s benchmark prices.

Keep in mind that the two benchmark homes are not the same size. A typical bungalow usually has less above-grade living space than a typical two-storey, so part of the price gap is simply more house. The HPI does not publish price per square foot, so I will not guess one for you.

How is bungalow resale value measured?

Mostly through the HPI, because the local board does not separate them. The Toronto Regional Real Estate Board (TRREB) reports sales by home type in its monthly Market Watch: detached, semi-detached, townhouse, condo townhouse, condo apartment and a few smaller categories. A bungalow and a two-storey house on the same street both count as “detached”. So nobody can honestly quote you a TRREB “bungalow median”.

The HPI fills that gap with separate one-storey and two-storey benchmarks for each board area. It is a statistical model, not a list of sales, so use it for direction and for the gap between styles. For a specific house, recent sales of similar bungalows on nearby streets will always tell you more. My guide to where GTA bungalows still make sense for retirees walks through those local comparisons.

How do bungalow and two-storey prices compare across the GTA?

The gap is very different from one area to the next. It is widest in the Greater Toronto benchmark and narrowest in Oakville and Milton.

Source: CREA MLS Home Price Index, not seasonally adjusted, September 2026. Areas are CREA’s board areas, not single cities. Gap and percentage are my calculation.

In Oakville–Milton, a typical bungalow cost almost as much as a typical two-storey. In my experience, that reflects older bungalows on large lots in established areas, where the land carries much of the value. Across the wider Greater Toronto area, the bungalow sells at a much bigger discount. Hamilton–Burlington had the lowest benchmarks of the four areas, at $745,700 for a one-storey and $843,300 for a two-storey, so a buyer priced out of Greater Toronto may find either style there for less.

Have bungalows held their value better than two-storey homes?

Not in most of the GTA. Since September 2016, the Greater Toronto one-storey benchmark has risen 23.7%, while the two-storey benchmark rose 31.1%. In 2016 the typical bungalow cost 83.1% of the typical two-storey; by September 2026 it was down to 78.5%. Bungalows also fell further from the February 2022 peak, down 31.8% against 27.8%.

Mississauga shows the sharpest split. Its one-storey benchmark fell 11.3% in the year to September 2026, while its two-storey benchmark fell only 2.8%. Since 2016, Mississauga bungalows are up 18.2% and two-storeys 31.4%.

The exception: Hamilton–Burlington

Here bungalows did better. Since September 2016, the Hamilton–Burlington one-storey benchmark rose 56.4%, ahead of 51.0% for two-storey homes. In Oakville–Milton the two styles moved almost together, at 28.1% and 28.5%.

So the honest answer to “do bungalows hold their value?” is: it depends on the area, and over the last decade most GTA bungalows have grown more slowly than two-storey homes. That is history, not a forecast. Demand from downsizers could change it, but I would not buy a bungalow expecting it to beat a two-storey on price growth.

Which costs more to buy and own, a bungalow or a two-storey?

A two-storey costs more to buy. At the September 2026 Greater Toronto benchmarks, the minimum down payment is about $66,760 on a $917,600 bungalow and $91,890 on a $1,168,900 two-storey, under the federal rule of 5% of the first $500,000 and 10% of the rest up to $1.5 million. Ontario’s land transfer tax is about $14,827 and $19,853. Inside the City of Toronto you also pay the municipal land transfer tax, which roughly doubles those amounts.

Owning costs are less clear-cut:

• Property tax depends on your MPAC assessment, still based on January 1, 2016 values, not on the style. A bungalow on a large lot can be assessed higher than a two-storey on a small one.
• Roof and foundation. A bungalow spreads the same living space over a bigger footprint, so it has more roof and foundation for its size. Roof replacement and basement waterproofing can cost more per square foot of living space.
• Basement protection. If the house has a basement, check its flooding history. In Toronto, the Basement Flooding Protection Subsidy pays 80% of eligible work such as a backwater valve or sump pump, up to $6,650 per property, for work done on or after November 12, 2025.
• Stairs and upkeep. A two-storey keeps bedrooms upstairs, which is great for families and harder for anyone with limited mobility.
• Mortgage qualifying. With the Bank of Canada at 2.50% since October 28, 2026, and prime at 4.70%, the lower bungalow price is easier to qualify for under the stress test.

Who should buy a bungalow?

• Buyers planning to age in place. One-floor living avoids daily stairs, as long as the laundry and a bathroom are on the main floor.
• People who need accessibility changes. The federal home accessibility expense credit lets a qualifying person, who is 65 or older or eligible for the disability tax credit, claim up to $20,000 a year of eligible renovation costs, such as changes that make the home safer or easier to move around. My guide to aging-in-place renovations in Ontario covers the common ones.
• Buyers who want land and future options. In my experience, a bungalow often sits on a wider lot. In Toronto, up to four units are permitted as of right city-wide, and garden and laneway suites are allowed with conditions, so a bungalow lot can have room to add units later.
• Buyers on a tighter budget who still want a detached house, since the bungalow benchmark was about $251,000 below the two-storey in Greater Toronto.

Who should buy a two-storey?

• Growing families who want bedrooms separated from the main living space.
• Buyers who want more space on a smaller lot, which is how most newer GTA subdivisions are built.
• Owners focused on resale growth. Over the last decade the Greater Toronto two-storey benchmark rose faster than the one-storey.
• Buyers comparing other freehold options. My detached vs semi-detached guide shows where a semi can save money for the same family layout.

What should you check before buying either style?

• For a bungalow: whether the laundry, a full bathroom and the main bedroom are on one floor; the age of the roof, wiring and drains; and the basement stairs.
• For a two-storey: stair width and slope, whether a main-floor bedroom or office is possible later, and how warm the upper floor gets in summer.
• For both: the MPAC assessment and latest tax bill, any flooding history in the basement, and the zoning if you plan to add a suite or a storey.

What to do next

1. Decide whether one-floor living is a need now, a need in ten years, or not a need at all.
2. Look up recent sales of bungalows and two-storeys on the same streets, not just area-wide numbers.
3. Get a written mortgage pre-approval at today’s rates.
4. Book a full home inspection as a condition of any offer, especially for older bungalows.
5. If you own now, get a value estimate so you know what your current home can buy.

Frequently asked questions

Sources

• CREA: MLS Home Price Index tool and data download (October 2026 release)
• CREA: About the MLS Home Price Index (benchmark homes)
• TRREB Market Watch, October 2026 (sales by home type)
• Canada Revenue Agency: Line 31285 – Home accessibility expenses
• Ontario Ministry of Finance: Calculating land transfer tax
• Bank of Canada: Policy rate announcement, 28 October 2026

Related reading

• Mississauga vs Oakville in 2027: Prices, Commute and Which Fits You
• Brampton vs Mississauga in 2027: Prices, Commute and Which Fits You
• Markham vs Richmond Hill in 2027: Prices, Commute and Which Fits You
• Vaughan vs Markham in 2027: Prices, Commute and Which Fits You