Detached Homes for Sale in Toronto
$500K – $750K
Greater Toronto detached benchmark: $1,158,000 · -6.8% year-over-year · minimum down payment in this band $25,000–$50,000.
Toronto detached homes · $500K–$750K
Current MLS® inventory sent within 1 business hour with today's 3.85% 5-yr fixed rate.
Detached Homes in Toronto $500K – $750K
$500K–$750K · 3.85% 5-yr fixed
CREA Benchmark
$1,158,000
Year-over-Year
-6.8%
Reporting Region
Greater Toronto
Release
May 2026
Greater Toronto Detached Benchmark — Last 13 Months
Source: CREA MLS® Home Price Index, not seasonally adjusted.
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Toronto detached homes do not typically trade in the $500K–$750K range. The Greater Toronto detached benchmark is $1,158,000, which falls in the $1M – $1.5M band. This page still gives you the exact down-payment, insurance and land-transfer-tax rules for a $500K–$750K purchase — but for market figures, see Toronto detached homes $1M – $1.5M.
What does a detached cost in Toronto in 2026?
The CREA MLS® Home Price Index benchmark for detached homes in the Greater Toronto reporting region — which covers Toronto — is $1,158,000 as of the May 2026 release, down 6.8% year-over-year. The HPI benchmark describes a typical home for the region rather than an average of what sold, and CREA publishes it per real estate board rather than per municipality — so this figure covers Toronto alongside the rest of the Greater Toronto area. IndiBrick does not currently license an MLS® feed, so we do not publish active listing counts or days-on-market for this market; a licensed advisor pulls those live for you on request.
How much do you need to buy a $500k – $750k detached in Toronto?
On a $625,000 purchase you need a minimum down payment of $37,500 (6%), plus a mortgage default insurance premium of 4.00% — about $23,500, capitalized into the mortgage rather than paid at closing. Land transfer tax adds $17,950 (Ontario plus the City of Toronto municipal levy), reduced by up to $8,475 if you are a first-time buyer. Lenders will qualify you at 5.85% under the B-20 stress test, not the 3.85% contract rate — a difference of $565 per month on the same $500,000 mortgage.
$500K – $750K in Toronto: the actual numbers.
Illustrative purchase prices across the $500K–$750K band. Payments are principal and interest at the 5.85% B-20 qualifying rate (today's 3.85% insured 5-year fixed plus 2%) on a 25-year amortization, using the mortgage you would carry at the minimum down payment — with the CMHC premium capitalized where one applies. Canadian semi-annual compounding is used throughout. Property tax, heat and condo fees are excluded; they vary by property and municipality.
| Purchase price | Minimum down | CMHC premium | Land transfer tax (ON + TO) | Payment at min. down, 5.85% |
|---|---|---|---|---|
| $500,000 | $25,000 (5%) | $19,000 (4.00%) | $12,950 | $3,117/mo |
| $625,000 | $37,500 (6%) | $23,500 (4.00%) | $17,950 | $3,855/mo |
| $749,999 | $50,000 (6.7%) | $28,000 (4.00%) | $22,950 | $4,593/mo |
Max amortization
25–30 years
25 years on an insured mortgage, extended to 30 for first-time buyers and newly built homes.
Typical detached
1,800–3,500 sqft
3–5 bedrooms · freehold
Stress-test gap
$565/mo
Difference between the 3.85% contract rate and the 5.85% B-20 qualifying rate.
How this page is sourced.
Price data
CREA MLS® Home Price Index, Greater Toronto region, May 2026 release. Benchmark prices, not averages of sold listings.
Mortgage rules
Department of Finance Canada down-payment minimums, CMHC premium schedule, OSFI Guideline B-20 qualifying rate, and the Ontario Land Transfer Tax Act plus the City of Toronto MLTT by-law.
Not published here
Active inventory counts, days-on-market and comparable sales require a licensed MLS® feed. We don't estimate them — a licensed advisor pulls them live for your search.
IndiBrick brokers through Pineapple Financial Inc. · FSRA #12830 · Verify at fsrao.ca
Keep exploring Toronto.
Other price ranges
Other property types
Comparable Ontario markets · Greater Toronto region and nearby
Toronto Detached · $500K–$750K FAQ
What is the benchmark price for a detached in Toronto?
The CREA MLS® Home Price Index benchmark for detacheds in the Greater Toronto area — the reporting region that covers Toronto — is $1,158,000 as of the May 2026 release, down 6.8% year-over-year. CREA publishes the HPI at the board/region level, not per municipality, so this figure covers Toronto together with the rest of the Greater Toronto reporting area.
What is the minimum down payment on a $500k – $750k home in Ontario?
Federal minimums are 5% on the first $500,000 and 10% on the portion between $500,000 and $1,499,999; at $1,500,000 and above mortgage default insurance is unavailable and 20% down is required. In the $500K–$750K band that works out to $25,000 at $500,000 and $50,000 at $749,999.
How much land transfer tax will I pay on a $500k – $750k purchase in Toronto?
Toronto buyers pay both provincial and municipal land transfer tax. On a $625,000 purchase that is $8,975 provincial plus $8,975 municipal — $17,950 in total. First-time buyers can claim up to $4,000 provincially and up to $4,475 municipally, which on this purchase price reduces the bill by $8,475.
What income do I need to qualify for a $500k – $750k home in Toronto?
Federally regulated lenders qualify you at the greater of your contract rate plus 2% or 5.25% — currently 5.85% against a 3.85% contract rate. On a $625,000 purchase with 20% down (a $500,000 mortgage), principal and interest is $2,590/month at the contract rate but $3,155/month at the qualifying rate — and the qualifying figure is the one your gross debt service ratio is measured against. Property tax, heat and condo fees are additional and vary by property, so speak to a licensed advisor for a figure on your specific file.
Is CMHC insurance required in the $500K–$750K band?
Mortgage default insurance is required whenever you put down less than 20%. At $625,000 the minimum down payment is $37,500 (6%), which puts the premium at 4.00% of the loan — about $23,500, added to the mortgage rather than paid up front. Insured mortgages amortize over 25 years, extended to 30 for first-time buyers and newly built homes.
Do detached homes in Toronto actually trade in the $500K–$750K range?
Not typically. The Greater Toronto detached benchmark of $1,158,000 sits in the $1M – $1.5M band, so that is where the bulk of Toronto detached homes transactions cluster. $500K–$750K inventory exists but is not representative of this market. For the figures that describe where this market actually trades, see our Toronto detached homes $1M – $1.5M page.
Get the live Toronto detached list.
We don't publish inventory counts we can't verify — a licensed Toronto advisor pulls current MLS® $500K–$750K inventory and today's rate (3.85% 5-yr fixed) within 1 business hour.
Detached Homes in Toronto $500K – $750K
$500K–$750K · 3.85% 5-yr fixed
Get pre-approved for a $500,000 mortgage.
Based on a $625,000 purchase with 20% down. We'll qualify you at the 5.85% B-20 rate, not the headline rate, so your pre-approval holds. Compare offers across 50+ Canadian lenders. No hard credit check.