Up & Coming Suburbs
Gone are the days where mid- and high-rise living is constricted to Downtown Toronto. The Canadian Housing Mortgage Corporation (CHMC) is predicting Canada needs 3.5M affordable housing units by 2030. This means governments are calling for higher density housing projects even outside of the downtown core.
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Take Mississauga for example, according to the MPAC (Municipal Property assessment Corporation) fact sheets for 2023 and 2024, new assessment in residential condos went from $387.8M to $826M - that’s a 213% increase in one year.
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In some cases, the lower purchase prices in suburban areas translates to higher return on investment. This is more common in areas that are in the earlier stages of establishing a supply of high-density housing. Examples as of late 2025 include Hamilton, Kitchener, Pickering. All these locations have been identified as suitable for high density housing particularly due to their proximity to public transit lines connecting to downtown Toronto.
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Demographics and shifting economic circumstances will also shape the type and location of housing starts we see. The affordability crisis has pushed people away from the city centre as people desire more square footage. However - unlike 20 years ago, detached homes are now considered a luxury. RBC says by 2030, only around 494,000 or 26% of households will be able to afford a single detached home. 19% of households can only afford a condo - with this number expected to grow. This means more condo and multi-unit residential projects in the suburbs to manage affordability.
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Overall, there are both pros and cons to investing in Toronto or the suburbs. Since each investor is different, our recommendations hinge on the investor's timeline, existing portfolio, exit strategy, available capital, etc. The suburbs though should never be underestimated nor discounted as a valuable investment opportunity.
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As of late 2025, the following are on our watchlist for up-and-coming suburbs for real estate investors. ​​
Checkout our interactive map below showing some of the proposed housing projects in the identified up-and-coming suburbs.
1. Pickering
Pickering has seen an exponential amount of grow and interest in high density housing. The GO station is a key landmark that developers are looking to build around providing rapid reliable transit for those commuting into the city. With the population expected to surpass 150,000 by 2036, the city has identified high density housing as a strategy to support the rising demand for housing.​
The community offers residents a wealth of amenities: reputable schools, parks, restaurants and more. The city is quickly becoming a desired place to live for a growing number of people across the GTA.
2. Hamilton
Hamilton's quickly rising up the ranks among the fastest growing suburbs in the GTA due to it's state of the art educational institutions: McMaster University, Mohawk College, Redeemer University. Hamilton is also home to some of the province's best hospitals attracting the best healthcare workers. The Hamilton Health Sciences organization says the networking employs 18,000 healthcare workers, a majority of which live in the city. Hamilton also has an established industrial sector that is thriving, fostering the city's growth at a rapid pace.
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According to the Ontario Professional Planners Institute, in 2023 the city had around 37,000 dwelling units in the pipeline in different stages of development. The city has also amended it's City Zoning Bylaws to better accommodate for triplexes and fourplexes, Hamilton is prepared to support the projected city growth. ​
3. Markham
Between 2021 and 2026, Markham's population increased by ~18%. The city is projected to have just over 600,000 people by 2031 and thus is also calling for high density housing. A high educated population translates to high standard of living, raising the price of real estate. Just below half of the residents have a bachelors degree or higher - 12% higher than the national average. In the year of 2025 the value of residential building permits was $1.6B, signalling the city is building housing to support anticipated growth.
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Home to some of the best public schools, Markham also has attracted large employers: IBM, QualComm, TD Bank, Honda. The region is known for it's tech and industrial sectors. New planning strategies prioritize higher density housing as the city continues to flourish.
Check out our interactive map below showing proposed housing starts in our identified areas
All content on this site is provided for educational purposes only and does not constitute legal, financial, or real estate advice.