Hamilton Housing Market Outlook 2026

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Hamilton Home Prices Plateau as Inventory Rises and Sales Stabilize

Hamilton entered 2026 in a transitional phase. Sales remain below last year’s levels, yet month-over-month activity has stabilized, and pricing metrics suggest the sharp correction phase may be ending. Inventory has expanded meaningfully since early 2025, giving buyers more choice and reducing urgency across most housing types.

Are Home Prices Still Falling in Hamilton?

Home price declines have largely already occurred. Benchmark prices remain below last year’s level and were unchanged month over month in January. That flat monthly reading matters, signalling that the rapid repricing phase is likely behind the market, even though values remain lower than a year ago.

Forecast data suggest average prices will remain relatively steady through 2026, with modest growth returning only as inventory tightens later in the cycle. Burlington is expected to outperform due to its proximity to Toronto and stronger commuter demand, while central Hamilton may experience slower absorption, particularly in condominiums.

Is Hamilton a Buyer’s Market Right Now?

Hamilton is leaning toward balanced-to-buyer conditions. Inventory is significantly higher than last year, with above 3 months of supply. That level does not represent distress, but it does give buyers more negotiating leverage than during the pandemic surge.

Homes are taking longer to sell, and sellers must price accurately to attract attention. The combination of higher listings and slower year-over-year sales means buyers can compare options rather than compete aggressively.

Why Are Sales Expected to Improve for Hamilton?

Sales are projected to gradually increase as economic uncertainty fades and affordability improves marginally in Hamilton. Stabilized mortgage rates have improved borrowing capacity, encouraging some sidelined buyers to re-enter the market.

Hamilton also benefits structurally from Toronto. Transit connectivity and comparatively lower prices continue to attract buyers seeking more space. However, affordability remains stretched relative to incomes, which will likely cap demand and prevent a rapid rebound. Sales are not expected to return to long-term averages until later in the forecast horizon.

What Is Happening With New Construction in Hamilton?

Housing starts are expected to decline in 2026, particularly in the condominium segment. Weak investor demand and slower pre-construction absorption are limiting new high-rise activity.

Rental apartment construction, however, remains a key driver for Hamilton. Government incentives and policy support are sustaining rental starts, partially offsetting the condominium slowdown. Developers are also shifting toward stacked townhomes and other “missing middle” formats instead of large high-rise projects.

Ground-oriented starts are forecast to gradually recover in 2027 and 2028 as unsold inventory clears and macroeconomic conditions improve.

What About Hamilton’s Rental Market?

The purpose-built rental vacancy rate in Hamilton is expected to rise further in 2026. Elevated rental completions, combined with slower population growth, are increasing the available supply. As vacancy climbs, rent growth is slowing. Increases are now concentrated in turnover units and newly completed higher-priced buildings rather than broad-based rent acceleration.

What Should Buyers and Sellers Watch in Hamilton?

Buyers should monitor inventory trends and absorption in the condominium segment, where conditions are softer.

Sellers should focus on strategic pricing and realistic expectations, as elevated listings reduce the margin for overpricing.

Hamilton’s market is not overheating, nor is it collapsing. It is recalibrating. Stability in monthly pricing, combined with higher supply, suggests the market is moving toward equilibrium rather than entering another correction phase.

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Hamilton Housing Market Highlights

• The average selling price of a home in Hamilton decreased by 10% year-over-year to $725,100 in January.
• The average selling price of a single-family home in Hamilton decreased by 9.1% year-over-year to $821,700 in January.
• The average selling price of a townhouse/multiplex in Hamilton decreased by 13.6% year-over-year to $595,400 in January.
• The average selling price of a condo in Hamilton decreased by 9.8% year-over-year to $458,800 in January.
• The average rent in Hamilton is now $2,069 for January.
• February 24, 2026: Today’s lowest mortgage rate in Hamilton is for a 5-year fixed.

Data from the Cornerstone Association of Realtors (CAR) indicates that the average price of resale residential homes sold across Hamilton in January was $725,100, and itdecreased of 10% compared to a year ago.

CAR also reported a sales-to-new-listings ratio (SNLR) of 36%, indicating Buyers market conditions in Hamilton for January.

Composite Home Prices

Single-family Home Prices

Townhouse and Multiplex Prices

Condo Prices

Transactions –  Number of Sales

New Listings

Real Estate Market

The sales-to-new-listings ratio (SNLR) measures the number of home sales compared to new listings. An SNLR below 40% suggests a buyer’s market, where buyers have the upper hand and greater negotiating power. An SNLR between 40% and 60% is a balanced market, while an SNLR of over 60% is considered a seller’s market. 

Annual Changes to Composite Home Prices in Hamilton

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Hamilton Market Rents Snapshot

The average rent in Hamilton was $2,069 for the month of January.

The average rent for a 1-bedroom apartment in Hamilton was $1,753 for the month of January, which increased by 2% on a year-over-year basis.

The average rent for a 2-bedroom apartment in Hamilton was $2,086 for the month of January, which increased by 0.4% on a year-over-year basis.

Rental Price Changes by City

Rank	CITY	Total Average	1 Bedroom	2 Bedrooms	Year-over-Year Change
1	North Vancouver	$2,958	$2,469	$3,287	−2.2%
2	Vancouver	$2,650	$2,362	$3,279	−4.8%
3	Oakville	$2,502	$2,216	$2,576	−19.3%
4	Toronto	$2,504	$2,183	$2,801	−8.6%
5	North York	$2,528	$2,127	$2,688	−1.9%
6	Burnaby	$2,505	$2,144	$2,809	−6.7%
7	Coquitlam	$2,524	$2,107	$2,765	−3.9%
8	Mississauga	$2,446	$2,043	$2,454	−8.6%
9	Etobicoke	$2,382	$2,102	$2,562	−8.3%
10	Kanata	$2,412	$2,238	$2,502	−17.3%
11	Brampton	$2,361	$1,910	$2,208	−7.2%
12	Kingston	$2,315	$1,968	$2,502	22.0%
13	Scarborough	$2,318	$1,910	$2,417	−5.6%
14	Vaughan	$2,266	$2,082	$2,499	−6.7%
15	Greater Sudbury	$2,067	$1,918	$2,167	−2.4%
16	Langley	$2,344	$2,071	$2,465	−1.8%
17	Burlington	$2,376	$2,065	$2,443	−5.0%
18	Ajax	$2,248	$1,814	$2,229	−4.5%
19	Halifax	$2,270	$2,052	$2,500	0.10%
20	Victoria	$2,224	$1,942	$2,605	−5.1%
21	Guelph	$2,159	$1,979	$2,291	−4.0%
22	Kelowna	$2,015	$1,686	$2,124	−10.8%
23	Surrey	$2,124	$1,818	$2,249	−8.5%
24	Ottawa	$2,127	$1,945	$2,458	−2.8%
25	New Westminster	$2,120	$1,872	$2,611	−7.4%
26	Waterloo	$2,230	$2,028	$2,367	−2.7%
27	Oshawa	$2,121	$1,753	$2,052	−5.4%
28	Nanaimo	$2,055	$1,820	$2,328	8.20%
29	Barrie	$2,154	$1,904	$2,184	−1.2%
30	East York	$2,302	$1,963	$2,554	−4.3%
31	Hamilton	$2,069	$1,753	$2,086	0.40%
32	Brossard	$2,066	$1,794	$2,169	1.60%
33	Cambridge	$2,057	$1,797	$2,101	−6.4%
34	Kamloops	$1,992	$1,805	$2,161	5.60%
35	Airdrie	$1,954	$1,450	$1,739	−0.9%
36	Laval	$2,098	$1,710	$2,348	11.00%
37	Kitchener	$2,013	$1,819	$2,130	−4.5%
38	Brantford	$1,979	$1,802	$2,058	0.50%
39	Niagara Falls	$1,929	$1,684	$1,899	−9.4%
40	Montreal	$1,913	$1,710	$2,216	−1.3%
41	London	$1,916	$1,650	$2,051	−4.5%
42	Gatineau	$1,885	$1,655	$2,072	−4.7%
43	Calgary	$1,871	$1,535	$1,850	−3.9%
44	Peterborough	$1,973	$1,677	$1,991	−2.3%
45	St. Catharines	$1,827	$1,608	$1,945	−1.2%
46	Welland	$1,675	$1,506	$1,823	−0.4%
47	Windsor	$1,658	$1,523	$1,839	−0.1%
48	Sarnia	$1,728	$1,508	$1,833	−3.9%
49	Winnipeg	$1,664	$1,409	$1,796	3.10%
50	Côte Saint-Luc	$1,535	$1,402	$1,787	−21.4%
51	Edmonton	$1,591	$1,279	$1,619	−2.6%
52	Saskatoon	$1,566	$1,350	$1,554	4.50%
53	Lethbridge	$1,528	$1,369	$1,570	0.70%
54	Quebec City	$1,485	$1,364	$1,646	−12.3%
55	Red Deer	$1,529	$1,219	$1,489	5.90%
56	Regina	$1,466	$1,255	$1,538	4.80%
57	Fort McMurray	$1,370	$1,167	$1,419	−1.3%
58	Medicine Hat	$1,372	$1,217	$1,395	0.10%
59	Lloydminster	$1,235	$1,025	$1,340	7.70%
60	St. John's	$1,238	$1,086	$1,250	−6.4%

Average Rent by City
Source: Rentals.ca Network Data & Urbanation Inc.

Rental Price Changes by Province

Rental Price Growth by Housing Type

How Does Renting Compare with Homeownership in Hamilton?

Each $100,000 in mortgage balance costs an average of $509.35 per month on nesto’s lowest fixed 5-year rate at and $495.28 per month on nesto’s lowest adjustable 5-year rate at .

For each $100,000 in mortgage balance, a 0.25% change in Canada’s policy rate impacts the monthly payment by $13.23. The rates used for calculation are those offered for insured purchases with less than a 20% downpayment and a 25-year amortization. Canada’s policy rate is 2.25%, and nesto’s prime rate is set to 4.45%.

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Frequently Asked Questions (FAQ) About the Hamilton Housing Market Outlook for 2026

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