In September 2026, the benchmark condo apartment price was below $600,000 in almost every municipality TRREB tracks (Caledon, at $612,700, was the exception), so a $600,000 budget now reaches the typical unit almost anywhere in the GTA. It goes furthest in Orangeville, Brampton, Oshawa and Ajax, where benchmarks were $380,000 to $433,900, and in parts of Scarborough and northwest Etobicoke inside Toronto. In Oakville and the City of Toronto, $600,000 buys a typical unit with less room to spare.
Key takeaways
- The GTA condo apartment benchmark was $527,200 in September 2026, down 6.67% in a year.
- Brampton’s benchmark ($407,000) fell 11.89%, one of the larger drops in the region.
- Within Toronto, districts E10 and E11 in eastern Scarborough had benchmarks near $370,000.
- The minimum down payment on a $600,000 condo is $35,000.
- Buying outside Toronto avoids the municipal land transfer tax, saving $8,475 at $600,000.
How we compared GTA condo prices
We used TRREB’s MLS Home Price Index tables for September 2026. The benchmark is the estimated price of a typical condo apartment in each area, adjusted for features, which makes it fairer than average prices for comparing places. It is not a listing price: actual units can sell well above or below it depending on size, age, view and parking.
Benchmarks for small areas, including individual Toronto districts, are based on fewer sales and move around more from month to month. Treat them as a guide to where to look, not a precise price.
Condo benchmark prices across the GTA
| Municipality | Benchmark, Sept 2026 | Change vs Sept 2025 | Headroom under $600,000 |
|---|---|---|---|
| Orangeville | $380,000 | -11.87% | $220,000 |
| Brampton | $407,000 | -11.89% | $193,000 |
| Oshawa | $409,000 | -6.55% | $191,000 |
| Ajax | $433,900 | -9.04% | $166,100 |
| Pickering | $465,500 | -8.14% | $134,500 |
| Mississauga | $488,300 | -7.62% | $111,700 |
| Richmond Hill | $493,000 | -12.27% | $107,000 |
| Whitby | $495,700 | -6.62% | $104,300 |
| Burlington | $504,000 | -4.39% | $96,000 |
| Milton | $511,700 | -5.10% | $88,300 |
| Markham | $517,200 | -9.70% | $82,800 |
| Vaughan | $523,100 | -4.92% | $76,900 |
| City of Toronto | $543,800 | -6.36% | $56,200 |
| Oakville | $552,100 | -6.20% | $47,900 |
“Headroom” is simply $600,000 minus the benchmark. More headroom means a $600,000 budget can stretch to a larger unit, a newer building, a better floor or a parking space.
Where $600,000 goes furthest inside Toronto
Toronto’s citywide benchmark hides a wide spread. Several TRREB districts had condo benchmarks well below the city figure in September 2026:
- Eastern Scarborough (districts E10 and E11): about $369,000 and $372,000, with declines of 18.97% and 15.94%.
- Northwest Etobicoke (district W10): about $408,400, down 16.23%.
- District C11 (including Thorncliffe Park and Flemingdon Park): about $409,600, down 11.84%.
- Central Scarborough (district E04): about $419,200, down 8.20%.
These areas have many older condo buildings, often with larger units and higher fees that include utilities. Run the numbers on fees and reserve funds as carefully as on price. Browse Scarborough condos and Etobicoke condos to see what is listed.
Commuter options along the GO lines
Many of the lowest benchmarks sit along GO Transit rail corridors, which is why they draw first-time buyers who work downtown. Pickering, Ajax, Whitby and Oshawa are on the Lakeshore East line. Brampton is on the Kitchener line, and Milton has its own line. A condo within walking distance of a GO station can give you a predictable commute at a lower price than a Toronto unit far from the subway.
The catch is frequency and cost. Check off-peak and weekend service on the line you would use, the fare from your station, and parking availability at the station if you would drive to it. Those details decide whether the savings on price are worth the trip.
Down payment and closing costs on a $600,000 condo
Under CMHC’s rules, the minimum down payment is 5% of the first $500,000 and 10% of the rest, so $35,000 on $600,000. At a $450,000 price, it is $22,500.
Land transfer tax is where location matters. Ontario’s tax on $600,000 is $8,475. Inside Toronto you pay the same amount again in municipal tax, for $16,950 in total, while in Brampton, Oshawa or Mississauga you pay only the Ontario amount. First-time buyers get up to $4,000 back from Ontario and, in Toronto, up to $4,475 more. Our land transfer tax guide has examples at other prices.
Tip: In markets where condo prices fell more than 10% in a year, such as Brampton, Richmond Hill and Newmarket, look closely at buildings completed in the last few years. Recently completed buildings tend to have the most investor-owned units, and when many owners list or lease at once, you get the most negotiating room. Check how many units are listed in the building before you offer.
Price is not the only test
A lower benchmark is a starting point. Before choosing an area, weigh:
- Commute. Time to work by the transit or car route you will actually use.
- Fees per square foot. Older, cheaper buildings can carry high fees that offset the lower price.
- Reserve fund health. An inexpensive unit in a building facing a special assessment is not cheap.
- Resale depth. Will there be buyers for your unit in five years? Areas with steady demand from local workers and students hold up better.
- Rental appeal. Even if you plan to live there, the ability to rent the unit out later is a useful backup.
Our comparison of Mississauga vs Toronto condos works through these trade-offs for one popular choice.
Financing a first condo under $600,000
A first-time buyer can use a 30-year insured amortization to reduce the monthly payment and the income needed to qualify. On a $550,000 condo, that lowers the payment by about $260 a month at a 4.59% rate. Our 30-year amortization guide shows the full math, including the higher insurance premium.
Frequently asked questions
Where is the cheapest place to buy a condo in the GTA?
Among municipalities in TRREB’s September 2026 index, Orangeville ($380,000), Brampton ($407,000), Oshawa ($409,000) and Ajax ($433,900) had the lowest condo apartment benchmarks. Inside Toronto, districts in eastern Scarborough had benchmarks near $370,000. Lower prices often come with older buildings, so check fees and reserve funds.
Can I buy a condo in Toronto for under $500,000?
Yes. The City of Toronto benchmark was $543,800 in September 2026, but many districts were below $500,000, including parts of Scarborough, northwest Etobicoke and North York. Smaller one-bedroom and studio units in central areas also list below $500,000. Expect trade-offs in size, building age, fees or location.
How much do I need to buy a $600,000 condo?
The minimum down payment is $35,000. You also need closing costs: land transfer tax of $8,475 outside Toronto or $16,950 inside Toronto before any first-time buyer rebates, plus legal fees, title insurance and adjustments. Lenders want to see you can cover closing costs in cash on top of the down payment.
Are condo prices still falling in Brampton?
As of September 2026, Brampton’s condo apartment benchmark was $407,000, down 11.89% year over year, one of the larger declines among GTA municipalities. Monthly benchmarks can move in either direction, so look at recent sales in specific buildings and our Brampton condo market report for local detail.
Start your search
Browse condos for sale across Ontario, filter by price and area, or contact our team for a shortlist of buildings under $600,000 that fit your commute.
This article is general information as of October 2026, not legal, tax, mortgage or financial advice. Rules and numbers change, so confirm the details for your situation with a licensed professional.