According to data collected by Ratehub, the average Toronto condo price in March 2022 was $831,351, requiring a household income of $156,320. As of May 2026, the average condo price has dropped by roughly 19 per cent, to $673,841, requiring a household income of $139,000.
BUT … The Star is omitting pertinent facts about income figures.
The average household income in the City of Toronto is approximately $121,200 to $129,000 before taxes, while the median household income is roughly $84,000 to $97,000. The higher average compared to the median is typically skewed by a larger share of upper-income households.
In Ontario, the average household total income is approximately $116,000 before taxes, and the average after-tax income is about $95,300. For median household income (the midpoint), the figure sits at roughly $81,000 before taxes and $79,500 after taxes
