The Cost of Living in Brampton

Brampton, also known as Flower City, is located in Southern Ontario, Canada. Situated in the Greater Toronto Area, this suburban city has a population of 593,638 according to Canada’s 2016 Census. The municipality of Brampton is the has the 9th highest population in Canada, and the 3rd highest population of all cities that are in the Greater Golden Horseshoe Region, trailing only Toronto (1st) and Mississauga (2nd). Named after a market town in England, it was once known as The Flower Town of Canada, due to its thriving greenhouse industry.

Brampton has become a more popular destination in the real estate market for home buyers. Prices in Toronto have spiraled out of control and a lot of buyers have no choice but to look elsewhere. People are beginning to look for houses for sale in the suburbs because they are much more affordable than the houses for sale in Toronto. According to MLS® statistics, the average selling price of a house in Brampton has reached $783,000 and $906,000 for the average selling price of a detached house. That number is up 42.2% compared to last year, but it is still not nearly as high as the price of houses for sale in Toronto. In Toronto, the average selling price was $916,567 and the average selling price for a detached house was $1,561,780. MLS® statistics show that Brampton is the 2nd fastest selling market in the GTA and the 19th (out of 23) most expensive.

Based on the statistics mentioned above, it’s no surprise why buyers have started to favour Brampton over Toronto when searching for houses for sale. Another suburb of Toronto, Mississauga has garnered similar interest in the real estate market for similar reasons. Ranked just above Brampton in terms of most expensive market at 18th, the average selling price of a house is $800,000.

When looking at the price of houses for sale, Brampton and Mississauga appear to be neck and neck. People looking to buy a house in Mississauga or Brampton should really be comparing the other costs besides the selling price of houses. Some things they should be comparing include: transportation and food.

Transportation Costs


All the dollar amounts that follow were sourced from Numbeo, which is a crowd-sourcing website that compares the cost of living in different cities.
Life is one big tradeoff; more of one thing means less of another. In this case, electing to live outside of the city means that you will spend less when buying a house, but you will have to spend more on transportation costs, assuming that you work in Toronto. As for gas and cost of a car, the prices are very similar in Brampton and Mississauga, but insurance costs are slightly higher in Brampton. The price of a one-way fare costs slightly more in Brampton, but monthly passes are cheaper than they are in Mississauga.

Food


The cost of food is not something that can be avoided so it is definitely something that you will want to factor in when deciding on where to buy a house. A dinner for two at a middle of the pack restaurant in Mississauga costs $55, whereas a similar dinner at a comparable restaurant in Brampton will cost about $66. While the food may be more expensive in Brampton than it is in Mississauga, drinks generally cost less. A domestic beer in Brampton costs $4.50 versus $6 in Mississauga. If beer isn’t your thing, and you’re more of a coffee person, a cappuccino will cost you $2.75 in Brampton, compared to $3.66 in Mississauga. As for groceries, it seems to be split; some items cost more and some cost less. For example: milk, eggs, and bananas is more expensive in Mississauga but local cheese, chicken breast, and onions are more expensive in Brampton.

It appears that there is no clear-cut winner in terms of which city is cheaper to live in. Some food items are cheaper in Brampton but some others are cheaper in Mississauga. Transportation costs are also nearly equal for taking public transit, paying for gas, and buying a car. Both of these cities have become very popular due to the lower prices of houses for sale and their proximity to Toronto. Houses for sale in Brampton are significantly cheaper than those listed in Toronto, but if you work in the city, you’re going to end up paying more for transportation costs.
The average price of houses for sale in Brampton is much lower compared to Toronto, but prices in Brampton are increasing drastically due to the increase in demand for living outside of Toronto. Buyers can take advantage of the lower cost of houses for sale in Brampton, but not for long. At this rate, it won’t be long before the average price of houses for sale in Brampton surpasses $1,000,000.

Reasons Why You Should Live In Brampton

If you are like most people who are looking for houses for sale, you are struggling to find a home within your budget. With the average price of a detached house for sale in Toronto being well over $1,000,000, home buyers feel as if they are being pushed out of the market. This is causing many new trends to develop in the real estate market. Some of these trends include: buying a condo, townhouse, or semi-detached home instead of a detached house; renting instead of buying, and looking for houses for sale outside of the big cities.

Looking for houses for sale outside of a big city like Toronto has become very popular among home buyers. Many simply cannot afford to purchase a home in Toronto so they look elsewhere. For those who work in the city, they need to live close enough to maintain a reasonable commute to work, so they extend their home search to include the suburbs of Toronto.

One of those suburbs that is becoming more and more popular is Brampton. The price of houses for sale in Brampton has yet to catchup to the exorbitant prices in Toronto, and it is still within commutable distance of the big city. Other reasons why Brampton is becoming so popular for home buyers include: real estate, location, and diversity.

Prices of Houses For Sale

As mentioned earlier, the prices of houses for sale in Brampton are much lower than similar houses for sale in Toronto. This makes it a hot destination for buyers who cannot afford to live in Toronto. The average selling price of a home in Brampton is $783,000, compared to $916,567 in Toronto. This, coupled with the 42% increase in price compared to last year, also makes Brampton a hot spot for investors looking to earn a sizeable return on their investment.

Location


Another reason why buyers are searching for houses for sale in Brampton is because of the location. Brampton is surrounded by multiple cities, making it very convenient to get around. Brampton is close to Mississauga, Vaughan, and Toronto as well as the major highways and bus routes which is a big reason why people want to live in Brampton. It is close enough to Toronto for commuting, which is great for people who work downtown, but do not want to live in such a big city like Toronto.

Diversity

Brampton has developed into one of the most diverse places in Canada over the years. According to census data, visible minorities represent over 65% of the population, with a large portion being South-Asian. What does this mean for people looking to move to Brampton? For any visible minority, it means they can seamlessly transition into their community. For others, it means they will be exposed to a wide array of different cultures that are not prominent in other areas. They will be able to go to numerous ethnic super markets and international festivals. Canada is known for being culturally diverse, and Brampton is about as diverse of a city that you can find in Canada.

If you’re a buyer and you cannot afford to purchase a home in Toronto, but want to be close by, you may want to consider looking for houses for sale in Brampton. Many people are following this trend and the population continues to rise every year. Brampton offers houses for sale at a lower price than other big cities which can help save hundreds of thousands of dollars. Brampton is also conveniently located near Toronto, Mississauga, bus lines, and major highways which makes commuting less of a nightmare. Finally, Brampton has unparalleled cultural diversity which is what Canada is all about. In the past, Brampton was not a very desirable location to look for houses for sale, but new trends have led to a spike in demand in this area.