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Here’s Where Burlington Stands in Terms of Housing Affordability



Here’s Where Burlington Stands in Terms of Housing Affordability

When determining which country, city, neighbourhood, etc. you’re going to live in, one of the main key factors you might consider is housing affordability.

A recent report revealed some shocking, or maybe not so shocking, information about affordability in the Halton region.

Burlington, more specifically.

A recent Zoocasa report analyzed housing affordability in seven Burlington neighbourhoods.

The neighbourhoods that were analyzed included are as follows.

  • Aldershot
  • Alton
  • Central, Plains, Maple
  • Dynes, Longmoor, Pinedale
  • Palmer, Headon Forest, Millcroft, Tainsley, Corporate, Orchard
  • Roseland, Shoreacres, Elizabeth Gardens
  • Tyandaga, Brant Hills, Mountainside

In the analysis, Zoocasa calculated the minimum income that is needed to buy the average home in each neighbourhood. These numbers were then compared to the actual median household income within in the municipality.

The report, according to Zoocasa, assumes the home buyer will make a 20 per cent down payment and qualifies for a mortgage with a rate of 3.35 per cent and a 30-year amortization.

So, what did the analysis find out about housing affordability in Burlington?

According to the report, the Dynes, Longmoore, and Pinedale neighbourhood is the only neighbourhood in Burlington that is considered to be affordable.

The most expensive Burlington neighbourhood is the area that includes Roseland, Shoreacres, and Elizabeth Gardens. 

Regardless, Burlington is still an attractive city to live in especially for younger people.

“Burlington is a very safe, community-oriented city that continues to appeal to buyers with young families looking for single-family homes,” Lori Mancini, a Zoocasa real estate agent in the Hamilton-Burlington area, said. 

“That being said, condo and townhome developments in neighbourhoods like Corporate and Burlington Central are attracting a broader range of buyers to the area.” 

The top three most affordable neighbourhoods are as follows.

  • Dynes, Longmoore, Pinedale
  • Central, Plains, Maple
  • Tyandaga, Brant Hills, Mountainside

What do you think about Burlington’s housing affordability?

Information and graphic is courtesy of Zoocasa.

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