A new report says homes valued under $500,000 are taking up a bigger share of Ontario’s real estate landscape, led by a shift in the condominium market.
New data released by the Municipal Property Assessment Corp. (MPAC) shows those lower-valued homes now account for nearly 24 per cent of Ontario’s real estate market, up from 17 per cent in 2022.
Despite that improvement, which MPAC says signals “a rebalancing in the housing market,” the report notes the share of homes priced below $500,000 is still well below that of a decade ago when they made up 67 per cent.
In the Windsor area, 59 per cent of homes are priced below $500,000 in 2026, compared to 99 per cent in 2016. 34 per cent were in the $500,000 to $750,000 price range in 2026, down from 40 per cent in 2022 and one per cent in 2016.
The organization’s chief assessor and data officer Greg Martino says the past decade has reshaped Ontario’s housing market and that while prices remain elevated, there have been corrections from peak conditions.
Condos account for much of the recent uptick in affordability, with 46 per cent of that housing segment valued under $500,000 in 2026, up from 24 per cent just four years ago.
The report notes other housing types remain less accessible, as just five per cent of townhouses are valued under $500,000 today, down sharply from 69 per cent in 2016. For semi-detached homes, 15 per cent are valued under $500,000, down from 52 per cent in 2016.