If you’re considering a move to Ottawa or planning to sell your property here, affordability is likely a major consideration. Ottawa, as Canada’s vibrant capital city, blends urban amenities with a welcoming community atmosphere—but we still hear the question: Ottawa expensive? Let’s dive into the details of Ottawa’s cost of living, explore how its housing market compares to Toronto, and identify attractive opportunities to purchase homes under $1 million.

Current Snapshot: Ottawa’s Real Estate Market

Ottawa’s real estate landscape is evolving steadily, and staying informed helps you make confident decisions. According to the Ottawa Real Estate Board (OREB), as of February 2025, the average home price in Ottawa was around $669,945—a modest increase of 1.4% from the previous year. Here’s how that breaks down by property type:

• Single-family homes: approximately $719,800
• Townhomes: around $438,000
• Condos: averaging $459,300

Compared to Toronto, where average home prices frequently exceed $1 million, Ottawa remains notably more affordable, offering buyers significant value and choice. Whether you’re seeking a spacious suburban house or a modern downtown condo, Ottawa has numerous attractive options available under the $1 million mark.

Ottawa’s balanced real estate market ensures a healthy blend of options for both buyers and sellers. This balance helps reduce market pressure, allowing you to take your time to find the ideal property without unnecessary urgency.

Buying a home in Ottawa? Explore these blogs for helpful advice.

• Am I Ready to Buy My First Home?
• Do I Need Good Credit to Buy a Home?
• How to Budget For Your First Year of Homeownership

Neighbourhood Highlights: Finding Your Ottawa

Ottawa is celebrated for its diversity in neighbourhoods, each with distinct character and advantages. Westboro offers a lively atmosphere filled with cafes, boutique shops, and excellent restaurants, appealing especially to young professionals and families. Kanata is a suburban favourite known for its high-quality schools, extensive parks, and thriving tech sector, making it particularly attractive to families and tech workers alike. Barrhaven offers an affordable entry point with a strong community vibe—perfect for young families or those buying their first home.

Manotick, nestled along the picturesque Rideau River, brings a charming small-town ambiance within easy reach of Ottawa’s city centre. Known for its historic landmarks, such as Watson’s Mill, vibrant local businesses, and a close-knit community atmosphere, Manotick appeals to those seeking a tranquil yet connected lifestyle. It’s particularly popular among families and retirees who value community events, outdoor activities, and the charm of rural living without sacrificing city amenities.

Understanding the nuances of these neighbourhoods can greatly enhance your living experience in Ottawa.

Everyday Expenses: Beyond Housing Costs

Living affordably in Ottawa extends beyond just the home price. Let’s examine the typical everyday expenses you’ll encounter:

• Transportation: Ottawa’s public transit system, OC Transpo, is efficient and cost-effective, making commuting straightforward for those who prefer public transportation. For drivers, fuel, insurance, and parking costs are also relatively moderate compared to those in larger cities.
• Utilities and Groceries: Monthly expenses for essentials like electricity, heating, and water are typically more affordable in Ottawa, giving you more flexibility in your budget. Grocery costs are similarly reasonable, helping families manage their finances without sacrificing quality.
• Entertainment and Leisure: Ottawa boasts a rich cultural scene—festivals, galleries, museums, and a variety of dining options make for a vibrant lifestyle that’s easy on the wallet.

Want to know more about Ottawa’s unique commutes? Explore these blogs next!

• Is Manotick Part of Ottawa?
• A Guide To Stonebridge: A Neighbourhood You Should Know About
• Manotick Vs. Greely – Where Should You Buy?

Factors Impacting Affordability

Several key factors currently influence Ottawa’s affordability, adding another layer of insight for both buyers and sellers:

• Interest Rates: Recent cuts by the Bank of Canada have brought interest rates down to around 2.75%, making mortgages more affordable and enhancing buying power.
• Economic Stability: Ottawa’s strong public sector, combined with a growing tech industry and diverse job market, ensures that household incomes tend to be above the national average, providing a stable financial footing.
• Government Initiatives: Temporary measures like tax freezes on essential goods help residents manage everyday expenses and contribute to the city’s overall affordability.

Ottawa’s Lifestyle Advantages

One of Ottawa’s strongest appeals is its outstanding quality of life. Enjoy cycling along the scenic Rideau Canal, exploring the numerous parks and hiking trails near Gatineau Park, or taking part in beloved community events like Winterlude and the Canadian Tulip Festival. Here, you can truly have it all—great amenities, vibrant culture, and a balanced budget.

Practical Advice for Homebuyers and Sellers

If You’re Considering Buying:

• Define Your Budget Clearly: Use mortgage calculators and consult financial professionals.
• Explore Neighbourhoods: Ottawa’s diverse areas each offer distinct lifestyles—take your time to find the perfect fit.
• Stay Updated: Keep track of local market trends and get expert insights from trusted professionals, such as the Wright Team.

If You’re Planning to Sell:

• Set a Competitive Price: Collaborate with your real estate agent to determine a realistic, appealing price.
• Enhance Appeal: Simple home improvements, staging, and attractive curb appeal can captivate potential buyers.
• Strategic Marketing: A blend of digital and traditional marketing channels will help you reach motivated buyers.

Moving Forward with Confidence

So, is Ottawa expensive? While it’s true that Ottawa’s home prices have increased moderately, the city still offers exceptional value compared to many other major Canadian cities. With its excellent quality of life, diverse neighbourhoods, strong economy, and a balanced housing market, Ottawa is an appealing choice for families, professionals, and retirees alike.

At the Wright Team, we’re dedicated to guiding you confidently through Ottawa’s real estate landscape. Whether you’re considering a move or ready to list your home, we’re here to help. Reach out today, and let’s make your Ottawa dreams a reality!

Interested in moving to Ottawa? The Wright Team is here to help. Call 613-692-0606 or send us an email at info@ottawahomes.ca to get in touch.