Owning an average-priced detached house in Toronto costs roughly $6,800 to $8,000 a month in 2026 once you add up the mortgage, property taxes, insurance, utilities and a realistic maintenance budget. The monthly cost to own a house in Toronto depends heavily on your down payment and your rate, but that range is a sound planning number for a purchase near the current average detached price.
Start with the mortgage. It dwarfs everything else. The Toronto Regional Real Estate Board (TRREB) reported an average detached price of $1,291,690 across the GTA in July 2026. With 20 percent down, you carry a mortgage of just over $1.03 million. At a five-year fixed rate in the low four percent range on a 25-year amortization, the payment works out to about $5,600 a month.
The carrying costs beyond the mortgage
Property taxes on a Toronto house typically land between $400 and $600 a month, depending on your MPAC assessment. The City of Toronto's combined residential increase for 2026 was 2.2 percent, one of the smaller hikes in recent years. The mechanics behind that bill are covered in how property taxes are calculated in Toronto.
Home insurance for a detached Toronto house averages roughly $130 to $190 a month, and lenders will not advance funds without it, a requirement explained in whether you need home insurance to get a mortgage in Ontario. Utilities are the next line. Hydro, gas and water for a detached or semi-detached house generally run $250 to $400 a month, higher through the winter heating season.
Then there is maintenance, the cost buyers most often skip. A house has no condo corporation collecting fees for the roof, the furnace or the foundation. That responsibility is yours alone. A common guideline is to set aside about one percent of the home's value each year, which on an average detached house means $500 to $1,000 a month. You will not spend it every month. You will absolutely spend it the year the roof goes.
A condo shifts several of these costs into a single maintenance fee, which changes the math considerably. For that comparison, see how much it costs to own a condo in Toronto each month.
Related reading: How Much Does It Cost to Own a Condo in Toronto Each Month?, How Are Property Taxes Calculated in Toronto?, and How Much Income Do You Need to Buy a Home in Toronto?.
