Hamilton, Ontario Real Estate Market Data
Updated: Nov 2024
House
| Median price | $650,000 |
| Monthly growth | 1.3% |
| Quarterly trend | 4.2% |
| Stock on market | 0.7% |
Apartment
| Median price | $425,000 |
| Monthly growth | 1.0% |
| Quarterly trend | 3.0% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $550,000 |
| 3 bedrooms | $650,000 |
| 4 bedrooms | $750,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $375,000 |
| 2 bedrooms | $425,000 |
| 3 bedrooms | $475,000 |
Demographics
| Current Population (2025) | 570,000 |
| Previous Population (2020) | 560,000 |
| Population Change | 1.8% |
| Total Private Dwellings | 210,000 |
| Occupied Private Dwellings | 200,000 |
| Population Density (per km²) | 2.7 |
| Land Area (km²) | 113.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Hamilton, Ontario, has been experiencing a steady growth in property values. As of the latest data, the median house price in Hamilton stands at $650,000, which reflects a year-over-year increase of 4.2%. This upward trend demonstrates a resilient marketplace that continues to attract buyers despite broader economic uncertainties.
In comparison, the median apartment price is relatively lower at $425,000, with a more modest year-over-year appreciation of 3%. Apartments represent an accessible entry point into the market for first-time homebuyers and investors alike. The consistent price growth in both housing sectors indicates a stable demand for residential properties in Hamilton.
Hamilton’s population currently sits at approximately 570,000 residents and has been growing at a healthy rate of 1.8%. This demographic expansion underpins the continuous demand for housing and helps drive the long-term appreciation of real estate values in the city.
Investment Opportunities and Potential
The current market conditions present several promising investment opportunities. Single-family homes have shown stronger price growth compared to apartments, suggesting robust potential for capital gains. Investors focusing on long-term equity build-up might find these properties particularly attractive.
Apartments offer an alternative investment route with their lower entry costs and solid year-over-year price increases. They are especially appealing to investors looking to cater to young professionals or smaller families who prefer urban living close to amenities and public transport.
Furthermore, Hamilton’s economic diversification and ongoing infrastructure improvements make it an attractive location for investors seeking stable rental income streams. The city’s strategic position within the Greater Toronto Area (GTA) and its access to major transportation corridors amplify its investment appeal.
Future Market Outlook
The outlook for Hamilton’s real estate market remains optimistic due to several factors that are expected to sustain demand. Continued population growth will likely result in persistent pressure on the housing supply, potentially driving prices upward over time.
Economic forecasts suggest that Hamilton’s diversified economy is poised for further growth, which should bolster the job market and maintain a steady influx of new residents searching for housing options. This economic stability is conducive to a strong real estate market that could withstand external pressures better than less diversified regions.
In conclusion, while no market is without risk, Hamilton’s real estate landscape appears well-positioned for continued growth. Both homeowners looking to reside in the city and investors aiming for portfolio expansion may find worthwhile opportunities amidst Hamilton’s favorable market conditions.
