Best Places to Live 2022: Hamilton Real Estate

• By Nada Jensen
• Posted Monday, Oct 03, 2022 10:15 am

Best Places to Live 2022: Hamilton Real Estate

Tucked on the western edge of Lake Ontario, Hamilton has become a hot spot in recent years. Hamilton’s economy is primarily driven by its manufacturing sector, with healthcare and education also significantly contributing to the local economy.

Hamilton has attracted homebuyers seeking respite from the high prices characterizing Toronto real estate. This exodus has caused prices across Hamilton to rise. From 2021 to 2022, prices rose almost 23 per cent. Homes are selling for an average price of $949,099. With an average mortgage of $759,279.20 and a median after-tax income of $70,100, Hamiltonians are paying 76.22 per cent of their monthly income for their home.

These increases are staggering. Just ten years ago, the average detached home sold for a little below $300,000. Today, they sell for over a million dollars.

Despite the price rise, professionals and young families are still moving to Hamilton. So, what are the best neighbourhoods in Hamilton to buy a house?

Most Liveable Neighbourhoods in Hamilton

1. Beasley: This trendy downtown neighbourhood is one of the oldest neighbourhoods in Hamilton. If you are a young person looking for a fast-paced city feel, this is one of the best options in Hamilton. Stroll James Street and check out the bars, restaurants, and independent businesses.
2. Corktown: Full of history and charm, it is one of the most in-demand neighbourhoods in Hamilton. Located centrally, Corktown offers school, trails, transit, parks, shopping, and restaurants. Situated at the foot of the escarpment, it is growing in popularity for singles and professionals looking for city life at more affordable prices than in Toronto.
3. Crown Point East: DIYers love this neighbourhood. It has long been home to the...[READ MORE]