MPAC report shows Windsor still affordable

A report by MPAC, the body that assesses properties in Ontario, shows the drastic changes to residential landscape in the past ten years.

“It's mind blowing,” said realtor Dan Gemus.

According to MPAC, 99 per cent of the homes in the Windsor area in 2013 were under $500,000. That number dropped to 59 per cent in 2023.

“It's hard trying to look at houses and stuff, and my parents graciously let me pay rent to stay at home so I can save up and maybe in the future get a house,” said Emily Moore, who is in her 20s.

Of the 41 communities listed in the report, Windsor comes in at number 7, while Chatham-Kent is fourth with over 73 per cent of homes under $500,000.

“Our average price right now sits around $534,000 in Windsor-Essex County,” Gemus said while pointing out the average price of a home 10 years ago was $191,000. “No one is shocked. We've all been watching it happen over the last few years. It's been painful to see for many, for those looking to buy obviously.”

If $191,000 was the number today?

“I would probably be on my own,” Moore said.

MPAC said communities with homes under half a million dollars are becoming increasingly scarce due to supply and demand, increased construction costs, labour costs, and inflation.

During the 10-year span, homes valued between $500-750,000 grew from less than a per cent to almost 34 per cent.

“We have 938 homes on the market in Windsor-Essex. Of them, about one-quarter, only one-quarter, are under a half million.”

Gemus said the average price in the area could be up as much as 7.5 per cent this year, and yet remains one of the cheapest communities to live.

“We've been saying for a long time. Unfortunately, we need more units. More homes, more apartments, more condos in Windsor-Essex County,” Gemus said.