Recently Kingston, ON, was named as the #1 city to move near Toronto for those looking to leave the big city life behind. The article was published on the Huffington post website and made some pretty strong arguments. Namely a low unemployment rate, historic downtown core, and lower relative home buying price compared to other cities of the same size.
Kingston has an unemployment rate of 5.7% (as per Stats Can) which is not only lower than Toronto’s rate, but also lower than the federal average of 6.7%, and the provincial average of 6.2%! This can be attributed to many factors but the biggest one is the large number of entry level and service positions that are available. Service industry positions are often available due to Kingston having the 2nd highest number of restaurants per capita in North America!
Another often overlooked aspect of Kingston living is the large number of designated historical landmarks and buildings. In fact there are over 20 National Historic sites in the area, including 2 UNESCO world heritage sites at Kingston Penitentiary and Fort Henry. Pair this with one of the most accessible public waterfronts in Ontario and this makes Kingston not only a great place to live, but a wonder to explore!
Furthermore, Kingston has a surprisingly low cost for home buyers and renters compared to other cities of similar size and location. The average price of a house sold in Kingston in December of 2020 was just over $500,000. Compared to Ottawa at $580,000 and Toronto at a whopping $980,000 moving to Kingston could save you anywhere between 15% and 95% in home purchasing costs. This means your investment can go a lot further.
We think these factors make Kingston a great place to live, work, and invest. The beautiful waterfront, historic downtown core, and the relatively low cost of living make Kingston the obvious choice for potential home buyers, renters, and employers for years to come.
If you have any questions regarding investment properties, renting, or leasing your properties give us a call at 613-530-3340 or an email at email@example.com