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Hamilton housing.

The state of Hamilton housing is, in a word, ‘strong’. Prices have gradually increased over the past few years. However, the Canada Mortgage and Housing Corporation (CMHC) says Hamilton housing is still relatively affordable due to low mortgage rates and the high average incomes of Hamilton homebuyers.

Real estate prices in Hamilton have appreciated more quickly than any other housing market in Canada — yet the average house in Hamilton costs about 45% less than the average house in Toronto. That’s probably why market watchers say Hamilton housing is still a bargain.

Conversely, mortgage rates over the past year have been going down. So much so that despite whether you decide to go with a fixed or variable rate mortgage, you’ll be getting a great deal.

5-year fixed vs. 5-year variable rates in Hamilton

5-year fixed vs. 5-year variable mortgage rates in Ontario

04/20 2.32%2.71%
05/20 2.07%2.37%
06/20 2.03%2.25%
07/20 1.82%2.03%
08/20 1.78%1.91%
09/20 1.74%1.84%
10/20 1.77%1.84%
11/20 1.74%1.77%
12/20 1.68%1.73%

Last Updated: January 1, 2021

Home Prices in Hamilton, Single-Detached

Home Prices in Hamilton, Single-Detached


Last Updated: October 9th, 2020

Source: Zolo, and CREA

About Hamilton.

A bustling and increasingly ‘happening’ city at the west end of Lake Ontario, Hamilton is home to more than half a million people. It wasn’t always that way: not so long ago, the city was seen as little more than a gritty industrial outpost. Now, 'Steel Town', as it is affectionately known, is a still-affordable and increasingly appealing urban alternative to Toronto. Hamilton's vibrant downtown core is the toast of Ontario and residents can enjoy a bevy of restaurants, bars and shops.

Of course, residents also regularly take advantage of the many other attractions the city has to offer, including the Art Gallery of Hamilton, home to over 9,500 works, and the African Lion Safari, an ‘Ontario Top 10’ attraction. Also of note is FirstOntario Centre, (still known to many as Copps Coliseum) with its 19,000 person seating capacity and well-deserved reputation for landing some of the best live events in all of Canada.

Jobs in the city remain plentiful and the unemployment rate is significantly below the national average.

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