Hamilton Real Estate Statistics (2026)

Hamilton, Ontario, has become one of the province’s fastest-growing housing markets over the past decade. It is located between Toronto and Niagara and attracts homebuyers looking for more affordable housing options while maintaining their access to employment opportunities throughout the Greater Toronto and Hamilton Area. 

Hamilton’s strong natural population growth, migration from the Greater Toronto Area, and diverse local economy have all contributed to rising property values in Hamilton and increased housing demand. Although the housing market has slowed down since the record highs reached during the pandemic years, Hamilton still has one of the most active real estate markets in Ontario. 

Hamilton Real Estate Statistics for Canadians

• Hamilton’s population was around 569,350 residents according to the 2021 Census, while the Hamilton Census Metropolitan Area had around 785,200 residents.
• In May 2026, the average home in Hamilton cost approximately $806,000.
• Average home prices in Hamilton were around 2–3% higher than a year earlier.
• A detached home cost approximately $910,000 in May 2026, while townhouses averaged around $705,000, and condominiums approximately $535,000.
• Based on the 2021 Census, Hamilton has a homeownership rate of approximately 69%.
• More than half of owner-occupied dwellings in Hamilton are detached homes.
• Hamilton has one of the more affordable housing markets within the Greater Toronto and Hamilton Area.
• Hamilton’s house prices are lower than in Mississauga and Toronto.
• The number of homes available remained higher than during the tight market conditions experienced in 2022 and 2023.
• In Hamilton, average home prices have increased by over 85% in the last ten years. 

Hamilton Housing Market Overview

Hamilton is the fifth-largest city in Ontario and one of the fastest-growing metropolitan areas in Canada. The city is located at the western end of Lake Ontario, and it is known for its waterfront, scenic Niagara Escarpment landscapes, extensive park system, and growing entertainment and cultural sectors. Hamilton also offers its residents a mix of urban amenities and outdoor recreation opportunities, making it an attractive place for families, professionals, and retirees alike. 

According to Statistics Canada, Hamilton had a population of approximately 569,350 in the 2021 Census, while the wider Hamilton Census Metropolitan Area had a population of around 785,200. More recent estimates place the metropolitan area’s population at over 830,000 residents, reflecting continued growth since the 2021 Census. Between the 2016 and 2021 Censuses, the area’s population grew by roughly 6%. This is a higher growth rate than seen in many comparable Canadian cities during the same period. 

Hamilton’s economy has grown significantly over the last several decades. While manufacturing remains an important employment sector, healthcare, education, logistics, technology, and professional services now offer a wide range of employment opportunities. Major institutions such as Hamilton Health Sciences and McMaster University are among the largest employers in the region. 

The city’s location within a commuting distance of Toronto has also made it more attractive to homebuyers looking for more affordable housing options. Combined with population growth, investments in Infrastructure, a diverse economy, and a wide range of employment opportunities, these factors support strong long-term demand for homes in the Hamilton area. 

Hamilton House Prices

Home prices in Hamilton have experienced significant price growth over the last ten years. The average residential property cost around $806,000 in May 2026, compared to around $420,000–$450,000 in 2015 and about $560,000 in 2019. While prices have softened following increased mortgage rates, these records show that prices have remained substantially above pre-pandemic and long-term historical levels.

In May 2026, the average prices per property type were approximately:

• Detached homes: $910,000
• Semi-detached homes: $730,000
• Townhouses: $705,000
• Condominiums: $535,000

Detached homes represent the largest share of residential homes in Hamilton and remain the most sought-after housing type among families. The average detached home costs around $375,000 more than the average condominium, which illustrates the significant price difference between housing types. 

Over the last decade, average home prices in Hamilton have increased by over 85%. Much of this growth occurred between 2020 and 2022 during the pandemic housing boom, when many people sought alternatives to inner-city living. 

Hamilton Real Estate Sales

Hamilton has one of the busiest regional housing markets in Ontario. Every year, thousands of residential properties are sold throughout the city and the surrounding communities. While sales activity declined with the higher interest rates between 2022 and 2024, the market has remained active compared with historical averages. 

Detached homes account for the largest share of residential sales in Hamilton, followed by townhouses and condominiums. Hamilton’s comparably lower housing costs have helped sustain demand for homes, especially among families and first-time buyers. 

Although sales volumes are below the record levels seen during the pandemic years, activity has stabilised as buyers have adapted to current market conditions. Hamilton’s market conditions have also become more balanced, meaning fewer bidding wars between buyers and longer decision-making periods. 

Housing Supply in Hamilton

The number of available homes in Hamilton increased considerably throughout 2024 and 2025. Following several years of very low availability, the number of homes for sale rose in many neighbourhoods, thus giving buyers more options and reducing competition. 

The increase in supply has helped moderate price growth and reduce bidding wars between buyers, which were very common during 2020 and 2021. Despite the improved supply, housing availability remains constrained due to long-term population growth and new development challenges. 

Like many other municipalities in Ontario, Hamilton faces ongoing pressures to increase the construction of new homes to meet future demand. Detached homes generally have a more limited supply than townhouses and condominiums, especially in established neighbourhoods. 

Hamilton Condo Market Statistics

While detached homes are still the most sought-after property type in Hamilton, condominiums represent a growing segment of the city’s housing market. In May 2026, the average price for a condominium in Hamilton was approximately $535,000, making them a more affordable entry point into homeownership. Because they are more affordable, condominiums have become an increasingly popular option among first-time buyers, people downsizing, and investors seeking rental properties. 

In recent years, several major condominium developments have been completed or proposed, especially in downtown Hamilton and transit areas. Despite increased construction of condominiums, demand for them remains strong because of affordability pressures that affect other housing types and ongoing population growth. 

Homeownership in Hamilton

Hamilton’s homeownership rate is a few percentage points above the national average. According to the 2021 Census, around 69% of Hamilton’s households live in owner-occupied homes compared to the national average of 66.5%. The city’s homeownership rate is below the rates in Mississauga (73%) and Brampton (76%), but higher than in Toronto (66%). It is also considerably higher than the rates recorded in Montreal (41%) and Vancouver (47.8%). 

Detached houses are the dominant housing type in Hamilton, accounting for more than half of the owner-occupied dwellings. Homeownership rate increases in line with age and household income, with families and couples more likely to live in owned properties than single individuals. Established immigrants also have higher homeownership rates than recent arrivals. 

Hamilton Housing Affordability

Even though property prices have increased in Hamilton, it is still more affordable than many other parts of the Greater Toronto and Hamilton Area. The average home in Hamilton cost around $806,000 in May 2026, which was considerably lower than in Mississauga ($1.03 million) and Brampton ($995,000), but higher than in some other markets in Ontario, such as Ottawa ($710,000).

When compared to other major Canadian housing markets, Hamilton is more expensive than Calgary ($652,000), Edmonton ($447,000), and Winnipeg ($436,000), but significantly more affordable than Vancouver ($1.21 million) and Victoria ($900,000).

Many buyers are choosing Hamilton because it offers larger homes at lower prices than neighbouring GTA municipalities. Townhouses and condominiums have become increasingly important options for first-time buyers as detached homes have become less affordable. While challenges with affordability exist in Hamilton, the city continues to provide comparatively better value than many larger housing markets in Ontario. 

Hamilton Real Estate Forecast

Hamilton’s housing market is expected to remain stable for the rest of 2026 and into the following years. Natural population growth, immigration, and migration from other parts of the Greater Toronto Area continue to support demand for homes. While an increase in the number of available homes might help moderate future price growth, significant price declines are not expected in the area. 

Several forecasts suggest the Hamilton area will experience modest growth in both home sales and prices as borrowing conditions improve. Hamilton’s location, diverse economy, and relative affordability are expected to remain as key advantages for the local housing market.