Toronto is among one of the most expensive cities in the world, the reason being that it has some of the most expensive neighbourhoods in Toronto. places to visit in Toronto is costlier than average, and the cost of living in these neighbourhoods reaches a few million. If you are looking to purchase a home in an affluent community, you could use this comprehensive list of the richest neighbourhoods in Toronto.
15 Most Expensive Neighbourhoods in Toronto
Looking for an richest neighbourhood in Toronto? Look no further than this list of the richest neighbourhoods in the city.
1. Bridle Path-Sunnybrook-York Mills
Bridle Path-Sunnybrook-York Mills (BPSYM), part of the Millionaire’s Mile, finds its location on the northern edge of central Toronto. Bridle Path, one of the most expensive neighbourhoods of Toronto and topping the three, features multi-acre estates. Seclusion and lushness offered by the Don River Valley also add to its attractiveness. Popularly known as ‘Billionaire’s Row,’ Scott Ingram’s reports in 2020 ranked Bridle Path first in the ‘Most Expensive Neighbourhood’ list.
In Sunnybrook, experience the country feels while living in the city. Isolated from the hustle of the city yet close to downtown Toronto, the desirability of this region is evident from the several generational homes. Close to Sunnybrook Hospital, professionals like doctors, dentists and lawyers prefer residing in Sunnybrook. The average price of homes in this region amounts to $2.3 million.
York Mills, one of the richest neighbourhoods in Toronto, comprises high-end condominiums, English Cottage style houses, ranch-style bungalows, new-costume buildings, modern-designed houses, split-level houses, and Tudor-inspired houses. Tranquillity and natural beauty, accompanied by an opulent lifestyle, render York Mills a top choice for prosperous people who want to maintain a low profile without compromising on their luxurious lifestyle.
2. Forest Hill South
Forest Hill South is a lush green community lined with large and luxurious stone mansions. Lawyers, doctors, celebrities, and entrepreneurs are among the resident population of Forest Hill South. Amenities in the houses, like the indoor pool, private bar, chandeliers, and pool tables, give the Forest Hill South neighbourhood an aristocratic and elite feel. Forest Hill South comes second in the ‘Most Expensive Neighbourhoods’. Apart from elegant houses, the locality also boasts some of the best schools in Canada and wonderful restaurants. Though more on the quiet side, the community is easily connected with downtown Toronto. The average price of houses here is over $3.2 million.
3. Rosedale-Moore Park
Rosedale qualifies as the oldest neighbourhood in Toronto with a fascinating past. Classical architecture, curving streets, and gorge geography have earned the locality Heritage Conservation Status. Rosedale is a green community, with minimal traffic and shopping and dining within walking distance. Rosedale gains its name from wild roses that can be spotted throughout the 110-acre property. Rosedale and adjoining Moore Park became one of the richest neighbourhoods in Toronto because of 43 sales of $5 million in 2021.
4. Casa Loma
Homes at Casa Loma are your fairytale dreams come true! Though home to wealthy and prosperous families, the rent at Casa Loma is not too high in comparison to the rents of downtown Toronto. Popular dwelling options include condominiums, townhouses, and detached houses in the designs of Tudor, English Cottage, Georgian, and Edwardian. These are popular dwelling options, mostly among young homeowners. The community also contains schools, shops, restaurants, and parks for hiking and walking.
5. St. Andrew-Windfields
One of the most richest neighbourhoods in Toronto, St. Andrew-Windfields, shelters many prosperous residents. Easy connections with Highway 401 and York Mills provide the community with swift access to downtown Toronto. Private, public, and Catholic schools and green spaces encircle St. Andrew-Windfields, which makes this region the perfect abode for families with kids because of its natural beauty and easy access.
6. Yonge-St. Clair
Yonge-St. Clair or Deer Park features detached and semi-detached homes for single or multiple families. From Victorian homes to modern condominiums, you can find all kinds of houses in this region. Houses at Yonge-St. Clair are priced at over $2 million; townhouses are at an average of $3.7 million, and condominiums at around $1.3 million.
This is a tranquil community that provides top-notch amenities, private schools, and other facilities. The transit time from Yonge-St. Clair to Toronto’s financial centre is only 10 minutes. Thus, residents here (professionals and seniors) find it easy to commute. Balmoral, Walker Avenues, and Farnham are some of the popular streets in this area.
7. Annex
Taking its position on the list of the most expensive neighbourhoods in Toronto is Annex, an area possessing houses dating back to the 1880s and designed in Victorian, Romanesque, Queen Anne, and Richardsonian styles. The region does not have skyscrapers; nevertheless, a single-family mansion here costs $2.5 million. Three-storey mansions, tree-covered streets, a shopping destination (Bloor Street), and recreational activities form part of the Annex.
Along with expensive mansions, condominiums (approximately $2.5 million) and townhouses (an average of $3.4 million) are also available in this region. The area is within close proximity to Koreatown, Chinatown, the Royal Ontario Museum, and Kensington Market. An effective and efficient transportation system connects the region to downtown Toronto, as many students from the University of Toronto come here.
8. Lawrence Park South
One of Canada’s first planned garden suburbs, Lawrence Park was established in 1907 as an aristocratic neighbourhood. Even today, the community upholds the reputation of being one of the wealthiest neighbourhoods in Toronto. Many Canadian public figures, such as Roberta Bondar, Isadore Sharp, Paul Beeston, and Steve Stavro, reside here. Most of the resident population comes from professions like medicine, business, the arts, law, and many others. The average cost of houses in Lawrence Park ranges between $3-4 million. A luxurious and opulent single-family home could fetch up to $7 million.
9. Bedford Park-Nortown
The Bedford Park Hotel receives its name from the Bedford Park neighbourhood, which consists of mid-sized detached and semi-detached homes. Initially developed for housing the middle class, the area now comes in the list of the richest neighbourhoods in Toronto. The houses have generational roots. However, new money and young families are also shifting to this neighbourhood. The highlight of the community is its proximity to parks, reputed schools, Highway 401, and Lawrence subway station.
10. Forest Hill North
The boundaries of Forest Hill North reach Briar Hill Avenue in the north, Eglinton Avenue in the south, Latimer Avenue in the east, Allen Road in the northwest, and Marlee Avenue in the southwest. The neighbourhood’s land is covered with green grounds, like the Kay Gardner BeltLine Trail. In the houses of Forest Hill North, you will find beautiful architecture adorning the houses.
11. Kingsway South
On the same platform as the Bridle Path and Forest Hill, Kingsway South is another affluent neighbourhood of Toronto, featuring stone mansions. Along with residential buildings, you will also find commercial buildings in this neighbourhood. Single-family detached homes and condominiums line the streets of this community. The villas are a treat for architecture lovers. Additionally, pubs, walking trails, salons, and restaurants are scattered throughout the Kingsway South. Bloor St., Prince Edward Drive, Royal York Road, and Queen Anne Road are some of the streets here.
12. Leaside
Originally designed to imitate the Rosedale community, the Leaside today holds its place among the most expensive neighbourhoods in Toronto. Upscale residential areas with various parks and shops characterise this neighbourhood. Upper-middle class makes up the population here. Many local celebrities, such as Darcy Tucker, Doug Gilmour, Trevor Kidd, and Colin Mochrie, reside in this neighbourhood.
13. Willowdale East
Willowdale once formed part of three postal villages: Newtonbrook, Lansing, and Willowdale. Here, you will find single-family homes, condominiums, townhouses, and high-end condominiums. The houses mostly are one or two-bedroom flats. Many parks dot Willowdale East, making the surroundings peaceful and beautiful. Seymour Schulich, Steve Shutt, Joseph Boyden, Howie Mandel, and many others reside here.
14. Banbury-Don Mills
A vibrant neighbourhood enclosed within nature, Banbury-Don Mills stocks vintage bungalows, modern dwellings, side-split homes, lofts, high-end condominiums, and townhouses. Houses in this neighbourhood offer some of the best views of Toronto. Facilities like reputed schools, parks, easy transit, and shopping centres are all available here.
15. Yonge-Eglinton
The Yonge-Eglinton neighbourhood is situated at the intersection of Yonge Street and Eglinton Avenue. The community is geographically almost at the centre of the city of Toronto, surrounded by other neighbourhoods like Forest Park, Lawrence Park, and Lytton Park. The area is a haven for outgoing people; shopping, dining, décor, and fashion centres can all be found here.
Conclusion
If you dream of white picket fences, beautiful gardens, and picturesque views from the comfort of your home, these neighbourhoods are the perfect destination for you. The houses here are mostly suitable for families. Many homes have been lived in for years, and many are being occupied with each passing day. What all the neighbourhoods have in common is that they offer top-notch amenities and luxury to their residents.
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Frequently Asked Question (FAQs)
Calgary’s iconic castle, located at 44 Aspen Ridge Heights SW, is the most expensive mansion in Calgary.
Guelph, a city in Ontario, is the richest place in Ontario.
Rosedale is the oldest community in Canada and houses huge historic mansions and castles built in the 19th and 20th centuries. The dwellings boast luxury architecture and are spread over a large area, making the community expensive.
The Gothic architecture and mesmerising history of Casa Loma attract various residents and host many private events.
Kensington Market is the best neighbourhood in Toronto.
Moss Park is the poorest neighbourhood of Toronto. Which is the most expensive mansion in Calgary?
What is the richest place in Ontario?
Why is Rosedale so expensive?
What is best about Casa Loma?
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