How Much Are Toronto Families Paying to Be Near Top Elementary Schools?

When you think about choosing a home, neighbourhood, and school district, one of the top concerns—especially for families—is the quality of nearby schools. In the Greater Toronto Area (GTA), it turns out that this isn’t just a preference—it’s having a measurable impact on home prices. According to recent analysis by Wahi, homes located near elementary schools rated 9 or higher (out of 10) by the Fraser Institute are commanding significantly higher prices. REM
In this blog we’ll break down the findings, explore what they mean for buyers and sellers, and dig into important caveats every family should know.

What the Data Shows

Here’s what the key findings from the Wahi analysis reveal:

• The study looked at neighbourhoods within the GTA that host elementary schools scoring 9.0 or higher for the 2022-2023 year, as per the Fraser Institute. REM

• There were roughly 60 such schools out of nearly 1,100 public, Catholic and private elementary schools in the GTA. REM

• Median home prices in those zones vary dramatically. On the low end: neighbourhoods like the Church-Yonge Corridor (near St. Michael’s Choir School, rated 10/10) had a median price of about $570,000 — largely due to condo-dominance. REM

• On the high end: neighbourhoods like Moore Park (mid-town Toronto, hosting two top schools) saw median home prices around $3.2 million. REM

• Overall: Of the 63 neighbourhoods studied, 41 had a median home price of at least $1 million, compared with a GTA-wide median of $905,000 in Q3 2025. REM

Simply put: living near a top-rated elementary school in the GTA often means paying a premium.

What This Means for Buyers & Families

If you’re shopping for a home in the GTA and schools matter (which they often do), here are some take-aways:

• Budget realistically. If you identify a school zone with a top rating, expect that the neighbourhood may already command higher prices.

• Prioritise your criteria. If school quality is at the top of your list, you may need to compromise on other things (square footage, lot size, or commute) to stay within budget.

• Think long-term. Buying in a neighbourhood near a strong school can offer lasting value. But remember: quality schools don’t guarantee your child will get in, or that the local school won’t face capacity constraints. (More on that below.)

• Don’t ignore the rest of the equation. As Wahi notes, many factors affect home prices—house type, size, neighbourhood amenities, transit, future zoning, etc. REM

Caveats & Things to Watch

It’s not all straightforward. Here are some important caveats to consider:

• Entry into the school isn’t guaranteed. Living near a top school does not guarantee your child will be able to enrol. Some neighbourhoods may already have schools at capacity or have complex catchment/lottery systems. REM

• Correlation ? causation. While homes near top-rated schools cost more, it’s hard to isolate just how much the school is responsible versus other desirable neighbourhood traits. Wahi’s economist, Ryan McLaughlin, points this out. REM

• Changing demographics & density matter. As neighbourhoods change—densification, new housing, shifting enrolment patterns—the dynamics around a school zone can shift too.

• Markets move. The data referenced median home prices for Q3 2025, and the GTA market is influenced by macro factors (interest rates, supply, policy) that could shift the value proposition.

• School rating context. The ratings are based on EQAO scores (Ontario’s provincial assessment) and have their limitations — they’re one indicator, not the whole picture of a school’s quality. REM

What This Means for Sellers & Investors

If you’re listing a home in a zone with a top-rated elementary school:

• Highlight the school proximity. Make sure your marketing includes the nearby school rating and the fact you’re in the zone of a highly rated school.

• Set realistic price expectations. While being near a top school helps, you still need to price relative to home type, condition, neighborhood comps, and overall market conditions.

• Understand your buyer pool. Many buyers will value the school proximity — especially families with young children — so tailor your messaging accordingly.

• Watch for capacity/over-subscribed schools. If the school is known to be full or hard to access, buyers may discount that proximity advantage.

Closing Thoughts

We believe in giving you the full picture—because selecting a home is about more than just bricks and mortar. It’s about neighbourhoods, schools, lifestyle and future value. What this latest study confirms is that the school-quality factor absolutely plays a role in the GTA real-estate landscape.
If being in a zone with a top elementary school is one of your non-negotiables, it’s wise to approach that with open eyes—understanding the premium, the trade-offs, and the projections. And if you’re on the sell side, leverage the advantage but price smart.
As always, I’d be happy to dig into specific school zones, neighbourhood trends, and how you can strategize your next move. Just reach out.