What Can I Buy for $600,000 in Toronto and the GTA? (2027)

Published 2 November 2026 · By Jatin Dua, Broker of Record, RE/MAX Quantum Realty

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Mid-rise condo building with balconies on a tree-lined North York avenue (illustrative)

By Jatin Dua · Broker of Record, RE/MAX Quantum Realty · Updated 2 November 2026 · 9 min read — Where $600,000 still buys a home in Toronto and the GTA: real 2026 medians by area, what it costs to close, and the income you need.

Short answer

In 2027, $600,000 mostly buys a condo apartment in Toronto and the GTA, plus condo townhouses in Brampton, Durham and parts of Scarborough and North York. About 64% of GTA condo apartments sold for under $600,000 from January to October 2026, but under 3% of detached houses did. Expect about $41,000 cash to close and roughly $130,000 of income.

This guide is for buyers with a budget of about $600,000 who want to know what is realistic in Toronto and the GTA in 2027. You will see what actually sold at this price in 2026, where, and what you need in cash and income to buy it.

What can you buy for $600,000 in the GTA?

Mostly a condo apartment. At $600,000 you can afford the median condo apartment in almost every part of the GTA, including downtown Toronto. You can also buy a condo townhouse in Brampton, Oshawa, Clarington and parts of north and east Toronto.

A freehold house is a different story. Across the GTA, only a small number of detached houses, semis and freehold townhouses sold for under $600,000 in 2026. They were mostly in Durham Region or needed work. If a house is your goal, see the section on houses below before you rule anything in or out.

How much of the GTA market sells for under $600,000?

TRREB counts every sale on its MLS system by price band. Here is how the first ten months of 2026 split at the $600,000 line.

Home type	Sales under $600,000	All sales, Jan–Oct 2026	Share under $600,000
Condo apartment	8,715	13,704	63.6%
Condo townhouse	1,131	3,872	29.2%
Freehold (att/row) townhouse	148	4,963	3.0%
Semi-detached	143	4,817	3.0%
Detached	650	24,643	2.6%

Source: TRREB Market Watch, October 2026, sales by price range and house type, year to date (all TRREB areas). Shares are my calculation.

So nearly two in three condo apartments sold for less than $600,000, and the busiest band of all was $500,000 to $599,999, with 3,502 condo apartment sales. That is a deep pool to choose from, which helps you negotiate.

For context, the median price of all homes sold across the TRREB area from January to October 2026 was $870,000, and $820,000 in the City of Toronto. A $600,000 budget sits well below the typical sale, which is why it points you toward condos first.

Where does $600,000 buy a typical condo in Toronto?

In most Toronto districts, $600,000 now buys a condo at or above the middle of the market. Here are the districts with the most condo sales.

Toronto district (sample communities)	Condo apartment median	Change vs 2025	Sales
C01 (Bay Street Corridor, Niagara, Trinity-Bellwoods)	$600,000	−6.6%	2,138
C08 (Church-Yonge Corridor, Moss Park)	$565,000	−7.4%	1,257
C15 (Don Valley Village, Bayview Village)	$526,750	−6.8%	530
W08 (Islington-City Centre West)	$525,000	−8.7%	507
C14 (Willowdale East)	$568,500	−9.0%	475
W06 (Mimico, Alderwood, Long Branch)	$607,500	−2.7%	422
C07 (Willowdale West)	$578,000	−8.7%	309
E09 (Bendale, Woburn)	$450,000	−11.8%	211
E07 (Agincourt North, Milliken)	$450,000	−13.8%	191

Source: TRREB MLS data via REALM, January–October 2026 vs the same period of 2025. District medians only, not neighbourhood prices. Community names from TRREB’s Q2 2026 community reports.

Outside Toronto, the median condo apartment sold for $485,000 in Mississauga, $530,000 in Vaughan, $558,000 in Markham, $529,250 in Richmond Hill, $415,000 in Brampton and $340,500 in Oshawa. With $600,000, you are in the upper half of each of these markets, which usually means a larger unit, a second bedroom or a newer building.

Can you buy a townhouse for $600,000 in the GTA?

Yes, a condo townhouse, in several places. These areas had a median condo townhouse at or under $600,000 in 2026, each with at least 20 sales:

Oshawa: $518,500 (118 sales)
Clarington: $525,000
Toronto W05 (York University Heights, Humber Summit): $560,000
Toronto E11 (Malvern): $561,500
Brampton: $570,000 (237 sales)
Halton Hills: $580,000
Toronto E09 (Bendale, Woburn): $591,500
Toronto W10 (Rexdale-Kipling, Thistletown-Beaumonde Heights): $595,000

Pickering ($608,000), Whitby ($617,500) and Milton ($620,000) sit just above the line, so the lower half of those markets is within reach too. A condo townhouse still has a monthly fee, so read my comparison of freehold and condo townhouses before you choose.

Can you buy a house for $600,000 in the GTA?

Only at the edges. No GTA city or Toronto district had a median detached house, semi or freehold townhouse under $600,000 in 2026. The closest were in Durham Region:

Oshawa semi-detached: median $610,000 (180 sales)
Clarington semi-detached: median $627,500
Clarington freehold townhouse: median $647,850
Oshawa freehold townhouse: median $657,500
Oshawa detached: median $730,000

These medians sit just above $600,000, so your budget lands close to the middle of the Oshawa semi market, not at the bottom. Expect older homes, smaller lots or homes that need updating. My list of the most affordable GTA cities for a detached home shows where that search usually starts.

Free tool — what can you actually afford?

How much cash and income do you need for a $600,000 home?

The minimum down payment on $600,000 is $35,000: 5% of the first $500,000 plus 10% of the last $100,000. With that, you need mortgage insurance, and Ontario’s 8% sales tax on the premium is due in cash at closing.

$600,000 purchase, first-time buyer	Outside Toronto	City of Toronto
Minimum down payment	$35,000	$35,000
Insurance premium, 4.20% (added to the loan)	$23,730	$23,730
8% sales tax on the premium (cash)	$1,898	$1,898
Ontario land transfer tax after $4,000 refund	$4,475	$4,475
Toronto land transfer tax after $4,475 rebate	none	$4,000
Cash needed before legal fees	about $41,400	about $45,400
Monthly mortgage payment at 4.5%, 30 years	$2,968	$2,968

Source: my calculations from federal down payment rules (FCAC), CMHC premium rates, Ontario and City of Toronto land transfer tax rates and rebates, as of November 2026. A 4.5% rate is close to the lowest advertised insured five-year fixed rate of 4.44% (Ratehub, early November 2026); it is illustrative, not a quote.

For income, lenders test you at your rate plus 2 points (6.5% here). Your test payment, property tax, heat and half of any condo fee must fit within 39% of gross income. On my assumptions (tax at 0.8% of the price a year, no other debts), a $600,000 freehold home needs about $130,000 of household income. A $600,000 condo with a $600 monthly fee needs about $137,000.

If you are not a first-time buyer, you are limited to a 25-year insured mortgage and get no land transfer tax refund. The payment rises to about $3,252 and the income needed to about $145,000 for the same condo.

Does $600,000 buy more in 2027 than it did in 2024?

Yes. Prices for condos and condo townhouses fell for two years in a row, so many areas crossed below $600,000.

Markham’s median condo apartment fell from $700,000 in January–October 2024 to $558,000 in 2026.
Toronto C14 (Willowdale East) fell from $702,000 to $568,500, and C07 from $699,000 to $578,000.
Downtown C01 fell from $680,000 to $600,000.
Brampton’s median condo townhouse fell from $681,000 to $570,000.

That is good news for buyers, but it also tells you condo values can fall. Plan to hold for years, not months. For the outlook, my post on whether condo prices are still going down covers what lenders and TRREB are watching.

Downtown condo or suburban townhouse: which is better at $600,000?

Both are possible at this budget, and they suit different lives.

A downtown condo (C01 or C08). You are close to jobs and transit, but units at this price are usually small, and you pay a monthly fee. Resale is easier here: C01 alone had 2,138 condo apartment sales in 2026, the most of any GTA area.
A condo townhouse in Brampton, Oshawa or north Toronto. You get more space and often a private entrance, but the commute is longer and there is still a fee.
A Durham semi or freehold townhouse just above budget. You own the land and pay no condo fee, but you must stretch past $600,000 and accept a drive.

Rather than choosing on price alone, write down your daily commute, how long you plan to stay, and whether you will need a second bedroom in that time. After two years of falling prices, I would plan to own for at least five years.

My take

At $600,000, you have the condo market’s strongest bargaining position in years. Condo apartments took about 30 to 55 days on average to sell in 2026, depending on the area. I would use that time: compare the same layout in the same building, ask for the status certificate early, and do not be the buyer who pays asking on day one. If you want land, put the same $600,000 toward a Durham semi and accept the longer drive.

What are the trade-offs at $600,000?

Condo fees. A $600 monthly fee costs you about $7,200 a year and reduces the mortgage you qualify for, since lenders count half of it.
Older buildings. The lower-priced condos are often in older buildings. Read the reserve fund study and status certificate for planned repairs.
Size. Downtown, $600,000 is the middle of the market. In Scarborough or Brampton, it is the top end, so you get more space for the same money.
Commute. The cheapest townhouses and semis are farthest from downtown Toronto. Price your commute as well as your mortgage.

Watch out

A low price can hide a high fee or a special assessment. Two condos at $600,000 can cost very different amounts each month. Always compare the total monthly cost, and make your offer conditional on your lawyer’s review of the status certificate.

What to do next

Get a pre-approval at current rates and ask how your lender treats condo fees.
Decide what matters more: location (a condo apartment) or space (a townhouse farther out).
Set aside about $41,000 outside Toronto or $45,000 inside it, plus legal fees and moving. My buyer closing costs guide lists every line.
Pull recent sales of the same layout in two or three buildings you like before you offer.

Need help with this? Talk to me.

I’m Jatin Dua, Broker of Record at RE/MAX Quantum Realty, and I’m the best agent to do this kind of work for you in Toronto and across the GTA. Over $100 million in GTA sales and 100+ families helped sell. Feel free to contact me any time: call or text 833-330-1925 or email [email protected].

Book a free call Call 833-330-1925

Frequently asked questions

What can I buy for $600,000 in Toronto?

In Toronto, $600,000 buys a typical condo apartment in nearly every district, including downtown C01, where the median was exactly $600,000 from January to October 2026. It also buys a condo townhouse in parts of Scarborough and north Toronto. It rarely buys a house, since few Toronto detached homes or semis sell below this price.

Is it possible to buy a house under $600,000 in the GTA?

Rarely. Only 650 detached houses, 143 semis and 148 freehold townhouses sold for under $600,000 across the GTA from January to October 2026, under 3% of each type, per TRREB. The closest medians were in Durham: Oshawa semis at $610,000 and Clarington semis at $627,500. Expect older homes or homes needing work.

How much down payment do I need for a $600,000 home in Ontario?

The minimum down payment on a $600,000 home in Ontario is $35,000. That is 5% of the first $500,000 ($25,000) plus 10% of the remaining $100,000 ($10,000). With less than 20% down you need mortgage insurance, and Ontario’s 8% sales tax on the premium, about $1,898 here, is paid in cash at closing.

What income do I need to buy a $600,000 home in the GTA?

About $130,000 of household income for a $600,000 freehold home, or about $137,000 for a condo with a $600 monthly fee, with the minimum down payment and no other debts. That assumes a 4.5% rate, a 30-year first-time buyer mortgage and the 6.5% stress test, by my November 2026 estimate. Debts raise the income needed.

What is the monthly payment on a $600,000 house in Ontario?

About $2,968 a month for the mortgage alone on a $600,000 home with $35,000 down, a 4.5% rate and a 30-year amortization, including the insurance premium added to the loan. Property tax, heat, insurance and any condo fee come on top. On a 25-year mortgage, the payment is about $3,252, as of November 2026.

Is $600,000 enough for a townhouse in the GTA?

Yes, for a condo townhouse in several areas. In January to October 2026, median condo townhouses sold for $518,500 in Oshawa, $570,000 in Brampton, $560,000 in Toronto W05 and $561,500 in Toronto E11. A freehold townhouse at $600,000 is much harder: only 148 sold under that price across the GTA, per TRREB.

How much cash do I need to close on a $600,000 condo in Toronto?

About $45,400 for a first-time buyer in the City of Toronto, before legal fees. That covers the $35,000 down payment, about $1,898 in sales tax on the insurance premium, $4,475 of Ontario land transfer tax after the refund and $4,000 of Toronto land transfer tax after the rebate, as of November 2026.

Are condos under $600,000 in Toronto a good buy in 2027?

They can be, if you plan to hold. Condo medians fell in most Toronto districts in 2026, for example 9.0% in C14 and 7.4% in C08, so buyers have choice and time to negotiate. Prices could still fall further, so check the building’s fees, reserve fund and recent sales of the same layout before you buy.

Where is the cheapest condo in the GTA under $600,000?

Oshawa had the lowest median condo apartment price in the GTA from January to October 2026, at $340,500, per TRREB MLS data via REALM. In Toronto, the lowest district medians were in Scarborough and northwest Toronto, such as $380,000 in E10, $401,000 in W10 and $415,786 in E04. Lower-priced condos often carry higher fees or older systems.

What Does $600,000 Buy in the GTA in 2027?