With more and more Toronto residents now turning to in-person work, ridership on the TTC has skyrocketed, and for some prospective buyers, shaving just a few minutes off their commute could be enticing enough to purchase a property within walking distance of a subway station. 

According to Statistics Canada, the number of commuters taking public transit increased by 92.5 per cent from May 2021 to May 2023. As a result, distance to local amenities — particularly public transportation — can be a make-or-break factor for those searching for a home in Toronto. 

However, a new report by real estate agency Zoocasa reveals that purchasing a home near a TTC subway station may come at the expense of affordability. 

To find out how distance from a station affects home prices, Zoocasa analyzed the average 2024 sold prices for houses and condos within 800 metres (roughly a 10-minute walk) of a TTC stop. 

Sold prices were sourced from the Toronto Regional Real Estate Board (TRREB) between Jan. 1, 2024, and June 1, 2024. Stations with fewer than three sold listings were not included in the calculations. 

The report found that the most affordable condo and house prices can be found in the east of Toronto, where home prices near TTC subway stations are far below city averages. 

Average house and condo prices near TTC subway stations. Source: Zoocasa.

According to the study, condos near Kennedy subway station cost the least and sell for an average price of $480,558, which is roughly $300,000 less than the current average price of a condo in Toronto. 

Average home prices were the cheapest near Warden subway station, which boasts the most affordable average home price of a still-gihh $1,050,631, followed by Victoria Park and Kennedy stations. 

"Along Line 1, homebuyers can also find condo deals north of St. Clair West. Average condo prices are below $600,000 near Eglinton West, Yorkdale, Wilson and Finch West Stations," the report reads. 

"Those looking to live closer to Old Toronto can find similar prices near St. Andrew, Queen and Dundas Stations, where average condo prices are also below $600,000."

While the average price for a detached home in Toronto is well over $1 million, you'll have to dish out at least double that amount if you're looking for a place to call home near Bloor-Yonge, Museum, Summerhill and Rosedale stations — which all have average home prices above $3 million. 

Out of all the TTC stations analyzed, York Mills takes the crown for the highest average home price. Properties near this station will run you an average of $3,957,375.

When looking at condos, prospective buyers will have to dish out the most money if looking near Lawrence, Summerhill or St. Clair stations, which are the only stops analyzed that boast average condo prices above $1.5 million. 

However, average condo prices near subway stations across the rest of the city are below $1 million, meaning this type of property is a great alternative for prospective buyers who want to live close to transit stops but don't want to skimp out on affordability.