Condo Parking Costs up to $268,500 in Toronto

The Greater Toronto Area’s condo market may not be soaring, but condo parking costs still are, suggests new research from digital real estate platform Wahi.

By Josh Sherman | 4 minute read

The latest Wahi analysis of the Greater Toronto Area’s real estate market looks at which neighbourhoods have the highest and lowest average days on the market for home sales.

As the Greater Toronto Area’s high-rise downturn continues and the market moves further away from investor-focused micro units in favour of end-user-friendly suites, condos with parking are commanding a six-figure premium in more than a dozen neighbourhoods throughout the region.

Condos with parking are also selling by an average of as much as two-and-a-half weeks faster than comparable units lacking a spot, depending on the location.

These are just some of the findings from a new Wahi analysis of condo sales data focusing on the cost of parking in the region. Wahi analyzed 2025 transactions of one-bedroom condos, comparing prices of those with and those without parking across the region’s approximately 400 neighbourhoods. In general, Wahi found that condos in older, established, centrally located neighbourhoods commanded the highest premium for parking. 

“The condo buyers who remain out there right now are generally looking for larger, more livable units with features such as parking,” suggests Wahi Economist Ryan McLaughlin. “As more condo projects are completed with fewer parking spots, one would expect that the law of supply and demand would drive prices up over time,” he adds.

Days on Market (DOM) measures the average number of days a listing remains active before selling. A lower DOM suggests strong demand, while higher numbers may indicate slower buyer activity or pricing mismatches.

In 13 neighbourhoods across the GTA, the difference between the median price of a one-bedroom condo with parking and that of a one-bedroom condo without parking was $100,000 or more. 

In three neighbourhoods, the difference was greater than $150,000, led by Riverdale, where the median price of a one-bedroom unit with parking was $268,500 more than those without.

Last year, Riverdale also topped the list, when (looking at 2024 prices) a median-priced one-bedroom condo with parking cost $202,360 more than a non-parking unit. Many of this year’s neighbourhoods with the highest parking premiums were also near the top during the previous year, including Deer Park, The Annex, Corktown, and The Entertainment District.

Only one of these neighbourhoods were found outside of the City of Toronto: Pine Valley Business Park, in Vaughan. However, this area has undergone an urban transformation over the past decade. It is located within the burgeoning Vaughan Metropolitan Centre, which has seen dozens of towers built or proposed in recent years, particularly following the extension of the Line 1 subway.

Wahi identified a total of 9 neighbourhoods in which one-bedroom units with parking cost no more than $50,000 more than those without parking.

Similar to the most expensive neighbourhoods for condo parking, the most affordable were almost entirely concentrated in the City of Toronto. Core Mississauga, which is the heart of Mississauga’s downtown, was the lone exception.

Methodology:

Wahi analyzed one-bedroom condominium sales across the Greater Toronto Area in 2025. Only neighbourhoods with at least five recorded sales with parking and five sales without parking were included to ensure a meaningful comparison.

Neighborhoods with negative parking-cost differentials were excluded due to insufficient sample size, atypical market conditions, or structural factors where parking does not meaningfully contribute to overall pricing in those areas.

Focusing on one-bedroom units helped isolate the impact of parking, as larger condos are more likely to include parking by default. Data was sourced from Information Technology Systems Ontario (ITSO) and the Toronto Regional Real Estate Board (TRREB).