What Does a One Bedroom Condo Cost in Etobicoke? A Mid 2026 Reality Check

Short answer: the average one bedroom condo apartment in Etobicoke sold for $503,448 in May 2026. That's up 1.4 percent from April, and down 6.6 percent from a year ago. If that combination sounds confusing, you're reading the market correctly. Let us walk you through it.

First, the fine print. These numbers come from TRREB MLS data covering the four Etobicoke districts (Toronto W06 through W09), condo apartments with one bedroom, and they reflect more than 5,000 sales since 2020. This is our backyard, so we watch these figures closely.

The ride from $700k to $500k

If you bought a one bedroom here in early 2022, you remember the frenzy. The average peaked at $702,587 in March 2022. Then rates went up, and the average price spent 42 straight months below where it sat a year earlier. The floor, at least so far, was December 2025 at $491,441.

May by May, the slide looks like this: roughly $588,000 in 2021, about $649,000 in 2022, $627,000 in 2023, $562,000 in 2024, $539,258 in 2025, and $503,448 this May. From the March 2022 peak to today, that's a drop of about 28 percent.

What the mortgage actually cost, each May

Price is only half the picture. What you pay every month depends just as much on the interest rate, and rates have swung hard over these five years. Here is what the average one bedroom's mortgage would have cost in May of each year, assuming 10 percent down, a 25 year amortization, and that year's average 5 year fixed rate. Under 20 percent down the mortgage is insured, so the CMHC premium is added to the loan.

Notice the payment did not peak with the price. The most expensive month was May 2023 at $3,384, when rates caught up, not the 2022 price peak. Cheap money in 2021 made a more expensive condo cost less each month than a smaller mortgage at 5 percent. Today, with a lower price and rates off their highs at the same time, the monthly mortgage cost is back around $2,483, the lowest it has been since the rock bottom rates of 2021. Rates here are approximate average discounted 5 year fixed, from Ratehub and the Bank of Canada, and payments are compounded semi-annually.

Digging into condo numbers? Start here:

• What Can Condo Buyers Get for Under $500K in South Etobicoke?
• Islington City Centre One Bedroom Condos: The First Half of 2026
• Mimico One Bedroom Condos: What Happened in the First Half of 2026

Why we're paying attention right now

Two things changed in the last few months. Prices stopped falling and started inching up, with May posting a 1.4 percent gain over April. And buyers are showing up again. TRREB's June 2026 Market Watch shows GTA condo apartment sales at 1,714 for the month, up 13.5 percent from June last year, while the GTA average condo price sat at $630,688, still down 9.4 percent year over year. More sales at soft prices is what the early stage of a floor tends to look like. Nobody rings a bell at the bottom, and we're not calling one, but the data has stopped getting worse.

One seasonal note: over the past six years, average prices in this segment have typically peaked in September and bottomed in December. Worth keeping in mind if you're timing a purchase or sale this fall.

What under $500k actually buys in Etobicoke

With the average right around the $500k line, half the market now sits below it. Broadly, here's what that budget gets you in different pockets:

• Humber Bay Shores and Mimico: a one bedroom in one of the newer towers, usually without parking. You're trading the parking spot for the lake, the trails, and a quick commute downtown.
• Islington City Centre and the Kipling corridor: this is where under $500k stretches furthest for commuters. One bedroom units with parking and a locker come up regularly, steps from two subway lines and the GO.
• Older buildings along The West Mall and in central Etobicoke: the 1970s and 80s buildings offer the most square footage per dollar, often a genuinely large one bedroom or one plus den. Maintenance fees run higher, but they usually bundle utilities, and the room sizes embarrass most new builds.

Every building has its own story on fees, reserve funds, and rental rules, which is exactly the stuff we help clients sort through.

If you own one of these condos

A 28 percent drop from peak sounds grim if you bought in 2022, and we won't pretend otherwise. But if you bought before 2021 you're likely still ahead, and the recent stabilization means realistic pricing is finally being met with actual offers. If you're curious where your unit stands in this market, our home valuation tool is free, and if you'd rather talk it through, reach out anytime.

And if you're a buyer who's been waiting on the sidelines, this is the most interesting entry point this segment has offered in years. We publish an Etobicoke Deal of the Week if you want to see what good value looks like in real time.

Data: Toronto Regional Real Estate Board (TRREB) MLS statistics, Toronto districts W06 to W09, condo apartments, one bedroom, January 2020 to May 2026, and TRREB Market Watch, June 2026. Past performance doesn't predict future prices.

Dave Dubbin & Associates
Etobicoke Real Estate Experts
Real Estate Broker for Etobicoke and Toronto