Out of all the cities in Canada, the real estate Hamilton market has become a hotspot for newcomers. Newcomers are coming into Hamilton AKA Hammer from big Canadian cities such as Toronto as well as from abroad.
According to data published by Statistics Canada, over 10,000 people settled down in the Hamilton metropolitan area during 2018-2019. There were about 11,743 newcomers in this Canadian city between 2019-2020. And from 2020 to 2021, the city saw the arrival of around 5,375 people.
So, why is Hamilton suddenly stealing the spotlight instead of other hyped-up Canadian cities such as Toronto? Why are newcomers from far and wide choosing to settle in this Canadian city? Scroll down below to know the appealing benefits Hamilton offers to its residents!
Why Hamilton, Ontario, Is Ideal for Settling Down?
Plant Your Roots Without Uprooting Your Wallet
Can afford the $1,224,600 Toronto homes or 1,753,700 Oakville properties? No worries! The average price of houses for sale in Hamilton is just $755,953. Quite wallet-friendly, right?
If you are moving to Hamilton with your family and need more indoor and outdoor space for your kids, you can find a detached property at $841,212. For first-time homebuyers looking for more space than a condo, go for semi-detached houses at $628,558. Other affordable housing options in the real estate Hamilton market that won’t burn a hole in your pocket are townhouses (673,440) and condos ($456,536).
Want to test out the city before buying a property and settling in forever? You (and your wallet) will be happy to know that the prices of 1-bedroom rental properties in Hamilton are 31.05% higher than in Toronto.
Live a Comfortable Life Without Stressing About Finances
The homes for sale in Hamilton aren’t the sole bargain in the Hammer. The overall cost of living in Hamilton is about 20% cheaper than in Toronto. You will have to pay around $300-$500 for groceries and only about $50-$150 in utilities. Property taxes and other tax burdens are also much lower in Hamilton than in other Canadian cities.
Public transit options are easily available and affordable. So, you can save hundreds of dollars in parking and gas every month which would otherwise be spent on daily commute.
Public Transit and Nearby Highways Make Commuting Super Easy
Yes, moving to a new city or even a new neighbourhood is no easy feat. However, when it comes to moving to or in Hamilton, you sure won’t be disappointed.
The city has a well-developed public transit system, one of the key reasons behind the popularity of houses for sale in Hamilton. The Hamilton Street Railway (HSR) has a network of buses that runs to and from the city throughout the day. The GO Transit train system offers services between Hamilton and other cities in the Greater Toronto and Hamilton Area. The Hamilton LRL runs from McMaster University to Eastgate Terminal.
Another reason for the well-appreciated commute system of Hamilton is that it is located near major highways. Some of the highways near Hamilton are Queen Elizabeth Way (QEW), Highway 403, Highway 407 and Highway 8. By using these highways, you can reach Toronto within just 1 hour and 7 minutes.
And if you have to fly off the city, Hamilton has its own airport which is the John C. Munro Hamilton International Airport. Other airports near the city responsible for the boom of the real estate Hamilton market are Stoney Creek Airport and Toronto Pearson International Airport.
Amenities of a Big City Yet the Feel of a Small Town
Hamilton ranks as the second largest city in Ontario, just after Toronto. It has tons of urban features and amenities that make the city all more vibrant. The downtown core has a range of shops, restaurants, cafes, bars, art galleries, and theatres that are full of fun and excitement. There is the CF Lime Ridge, an airy light-filled shopping destination and the Centre on Barton which is an open-air retail complex.
Hamilton is also home to McMaster University, a world-renowned research institution. The city also has several colleges and universities, making homes for sale in Hamilton more popular among students.
Despite the many features and amenities of Hamilton, the city has a small-town and quaint vibe. Hamilton is surrounded by rolling hills, lush forests, and scenic locations. With over 140 different waterfalls and cascades, Hamilton is known as the “waterfall capital of the world.” The Niagara Escarpment is also located near the city where you can enjoy biking, hiking, snowshoeing and even cross-country skiing.
So, for aspiring homeowners looking for a tranquil, nature-oriented city, real estate in Hamilton is the place where you must look for homes. You can live a serene lifestyle here without compromising on urban amenities and features.
Thriving Economy Promising a Prosperous Future
Last but not least, a key reason why houses for sale in Hamilton are gaining popularity like never before is because of the city’s booming economy. Hamilton is nicknamed “Steeltown” because of its historical and ongoing role in the Canadian steel industry. More than 60% of the world’s steel production takes place in Hamilton.
The steel companies in Hamilton employ over 30,000 people and produce over 4 million tons of steel annually. Many legendary steel companies have established their headquarters in Hamilton such as Stelco and Dofasco.
Apart from the steel industry, Hamilton has a range of other industries that can be credited for the city’s growing economy. This includes but is not limited to Automotive, Finance, Digital Media, and Tourism.
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Hamilton - The City That Offers Its Residents Truly All!
Otherwise known as the Hammer, Steeltown and even Toronto’s thriving neighbour, Hamilton is growing in popularity among newcomers for many convincing reasons. Most newcomers choose the real estate Hamilton market because of the wallet-friendly price tag of the city. On the other hand, many move to this Canadian city for that perfect blend of urban convenience and small-town feel. Whatever the case, if you are looking for a city out of Toronto but in the GTA, Hamilton is a must-explore option.