The typical owner-occupied home in Toronto is worth about $33,400, 85% below the Kansas median of $217,200 and 90% below the national median of $332,700. Owners pay a median $1,013 a year in property taxes, about 3.03% of their home's value, higher than the Kansas rate of 1.29%. The median household earns $32,067 a year, so the median home costs 1.0 times the median income (2.9 times for Kansas). 93% of occupied homes here are lived in by their owners, and 8% of those owners still have a mortgage.
Toronto at a glance
| Toronto | Kansas | U.S. | |
|---|---|---|---|
| Median home value | $33,400 | $217,200 | $332,700 |
| Median property tax paid per year | $1,013 | $2,798 | $3,119 |
| Property tax as a share of value | 3.03% | 1.29% | 0.94% |
| Median household income | $32,067 | $74,275 | $80,734 |
| Homes lived in by their owners | 93% | 67% | 65% |
| Owner homes with a mortgage | 8% | 57% | 61% |
| Median monthly costs, owners with a mortgage | $925 | $1,689 | $1,963 |
| Those costs as a share of the owners' income | 12.5% | 19.4% | 21.0% |
| Median rent | $760 | $1,060 | $1,413 |
| Rent as a share of renters' income | 51.0% | 27.1% | 30.6% |
| Median year homes were built | 1962 | 1976 | 1980 |
| Vacant homes | 38.5% | 9.2% | 10.1% |
| Population | 260 | 2,947,197 | 334,922,499 |
What a typical home costs per month in Toronto
At this week's average 30-year rate of 7.11%, buying the median Toronto home of $33,400 with 20% down costs about $278 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $334, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $11,914 for the 20%-down payment. That payment is 10% of the median Toronto household income of $32,067; at that income and 20% down, the 28% guideline points to a home of about $90,000.
The median rent here is $760 a month, a little more than the monthly cost of owning the median home with 20% down.
| Down payment | $6,680 |
|---|---|
| Loan amount | $26,720 |
| Principal and interest | $180 |
| Property taxes (3.03% a year) | $84 |
| Homeowners insurance (our estimate, 0.5% a year) | $14 |
| PMI | $0 |
| Total per month | $278 |
Change the numbers in the calculator
| Down payment | $1,169 |
|---|---|
| Loan amount | $32,795 |
| Principal and interest | $221 |
| Property taxes (3.03% a year) | $84 |
| Homeowners insurance (our estimate, 0.5% a year) | $14 |
| FHA mortgage insurance | $15 |
| Total per month | $334 |
Change the numbers in the calculator
Questions about home buying in Toronto
What is the median home value in Toronto?
About $33,400 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Toronto?
Homeowners pay a median $1,013 a year, which is about 3.03% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Toronto?
For the median home with 20% down at 7.11%, the payment is about $278 a month. Keeping that under 28% of gross income takes about $11,914 a year.
More about Toronto
- Mortgage Refinance in Toronto
- Debt Relief in Toronto
- Home Equity Loans in Toronto
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data