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.
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.
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.