PHOTOS: What $1 million can get homebuyers in the U.S. vs. Canada


Published June 5, 2023 at 4:49 pm

It’s no secret that houses in the GTA–and all of southern Ontario, to be fair–have become jaw-droppingly expensive over the past decade.

But how do prices in Toronto really compare to those in big U.S. cities such as New York City?

Real estate website and brokerage Zoocasa recently looked at $1 million listings in Canadian cities such as Toronto, Cambridge, Halifax and Edmonton and compared them to similarly-priced homes in New York City, White Plains, NY, Orlando, FL and Jacksonville, FL. 

It found that a million dollars can buy you anything from a modern downtown condo to a four-bedroom house, depending on where you’re shopping. 

“The homes available at this price point are as varied as the cities they’re in, and reveal the difference in buying power between the U.S. and Canada,” the report reads. 

Zoocasa says both real estate markets are tight at the moment, with demand outstripping supply and keeping prices elevated in both countries. That said, some markets are more affordable than others, with buyers getting more bang for their buck in Edmonton, Saskatoon, Saint John, Ottawa, Orlando, Jacksonville, San Antonio, TX, and Philadelphia. 

While houses in Canada are still generally more expensive (the Canadian national average sits at $716,000 CAD/$532,243 USD, and the US national median sits at $401,000 USD/$539,398 CAD), Zoocasa says the gap is “less obvious in metropolitan cities.” 

Here’s a look at a few interesting comparisons: 

Toronto vs NYC

12 Rhyl Ave, Toronto

This three-bedroom, one-bathroom semi-detached house in The Beaches is listed at $999,900 and offers high ceilings, hardwood floors, an open-concept design and one parking spot. 

2257 Adam Clayton Powell Jr Boulevard #3B, New York City 

Listed for $999,999 USD (1,362,259.40 CAD), this condo offers two bedrooms, two bathrooms and over 1,200 square feet of space. The unit, which does not come with a parking spot, boasts a wall of windows and a large balcony.

Cambridge, Ont. vs. White Plains, NY

62 Oak Hill Dr, Cambridge 

This detached house, listed for $999,900, offers four bedrooms, four bathrooms, four parking spaces and recent renovations. The home boasts a finished basement and a heated in-ground pool. 

30 Joan Avenue, White Plains, NY

This detached suburban New York home was listed for $950,000 USD (1,277,285.08 CAD). It offers four bedrooms, three bathrooms and a striking Colonial design. This classic house boasts a large foyer, hardwood floors, a patio and more. 

Edmonton vs. Jacksonville

9131 141 St Nw, Edmonton

This mid-century, custom-built home in Edmonton was listed for $999,900. The family home boasts four bedrooms, four bathrooms and four parking spaces. It also features a finished basement with a games room, a spacious yard with a covered patio and a main floor laundry room. 

2506 Karatas Ct, Jacksonville, FL. 

This Spanish-style home was listed for $999,000 USD (1,357,907.49 CAD). It features four bedrooms, three bathrooms, expansive sliding glass doors, two walk-in closets, a gourmet kitchen and a screen-in porch. 

Halifax vs. Orlando

2635 Dublin Street, Halifax 

Listed for $999,900, this detached Halifax home boasts four bedrooms, two bathrooms and no parking spaces. Modern and stylish, the renovated house features a sleek interior and a spacious principal bedroom with an ensuite bathroom and walk-in closet. 

715 Alameda Street, Orlando, FL 

Listed for $999,999 USD (1,362,227.09 CAD), this updated colonial home offers four bedrooms and four bathrooms. It also boasts a kitchen with stone countertops, custom cabinetry, and a large principal bedroom with his and her closets. 

INsauga's Editorial Standards and Policies