No. 2: Mimico

Average sale price: $586,132

Mimico offers a picturesque waterfront lifestyle for a fraction of the price of Toronto’s other lakeside ’hoods. The area has decent TTC access—it’s just 15 minutes to Union Station by train from the Mimico GO station. (That’s faster than a streetcar ride from Roncesvalles.) The tight-knit community comes together at folksy annual events like the Mimico Tulip Festival and a summer music series in the public square, while cooler destinations cater to a younger crowd—the artfully ramshackle Blue Goose ­Tavern is planning to start an on-site microbrewery, and the Bread Essentials bakery holds regular pastry workshops. The most affordable homes in the neighbourhood are bungalows on narrow lots. They might need work, but many new homeowners simply add second storeys. A Mimico bungalow can grow with you.

What’s selling?

132 Lake Crescent
A two-storey detached with three bedrooms and two baths.
Listed at $779,000
Sold for $760,189

 

157 Hillside Avenue
A detached bungalow with two bedrooms and two baths.
Listed at $669,000
Sold for $660,000

 

173 Hillside Avenue
A detached bungalow with two bedrooms and two baths.
Listed at $849,000
Sold for $860,000


 

Among the neighbourhood’s newest arrivals is Tich, which serves some of the city’s best Indian food:

 

Another recent arrival is FBI Pizza, an offshoot of Queen Margherita:

 

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