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Here's what you can buy for less than $500,000 in nine Ottawa neighbourhoods

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The number of residential properties in Ottawa valued at less than $500,000 has sharply declined over the past decade, according to a new report.

Data released by the Municipal Property Assessment Corporation shows homes valued between $500,000 and $1 million make up the majority of homes available in Ottawa.

In 2013, 79 per cent of Ottawa's homes were valued at less than $500,000, while 16.5 per cent of homes were valued between $500,000 and $750,000 and three per cent of properties were worth between $750,000 and $1 million.

According to MPAC, only 19.2 per cent of homes were worth less than $500,000 in Ottawa in 2023, compared to 43.2 per cent of Ottawa homes worth between $500,000 and $750,000 and 23.6 per cent of properties worth $750,000 to $1 million.

TrinityStone Realty broker and owner Colleen Lyle has an optimistic outlook on the current market.

"There are almost 400 homes available under the $500,000 mark," she told CTV News Friday, "so there are options for those people who are trying to get into the market. A beautiful condo, two-bed, two-bath home with parking is definitely still feasible here in Ottawa."

CTVNewsOttawa.ca looks at what you can buy for less than $500,000 in nine Ottawa neighbourhoods in March.

Barrhaven - $489,900

This three bedroom, two-bathroom townhouse on Bentbrook Crescent in Barrhaven is on the market for $489,900.

"Turn key affordable townhouse in Barrhaven with attached single garage," says the listing on Realtor.ca, adding the home is newly updated.

The home includes a family room in the lower level with a wood-burning fireplace and storage area. 

"Low condo fees that cover snow removal, maintenance of exterior walls, doors and windows."

This townhouse on Bentbrook Crescent has three-bedrooms and two bathrooms. The home includes a wood burning fireplace and a backyard. (Realtor.ca/website)

Carleton Square – $409,900

This home on Fisher Avenue has three bedrooms and two bathrooms. It is listed for $409,900.

"This large condo rowhouse offers plenty of natural light with 3-large bedrooms and 1.5-bathrooms for multiple family situations," says the listing on Realtor.ca.

"The living room and dining room allow for entertaining friends and family on your special occasions and kicking back and relaxing from a busy day of work."

The home is located "mere minutes away" from Hog's Back Park.

This three-bedroom townhouse on Fisher Avenue is listed at $409,900. According to the listing on Realtor.ca, the home is located between Carleton University and Algonquin College. (Realtor.ca/website)

Centretown - $469,900

This one bedroom, one bathroom condominium on Nepean Street in Centretown is on the market for $469,900.

"The open concept living/dining space boasts hardwood floors & floor-to-ceiling windows with a breathtaking view of the city. Step through the sliding doors onto the balcony, perfect for relaxing, says the listing on Realtor.ca

"Kitchen features granite countertops & stainless steel appliances. Good sized bedroom with large windows, walk-in-closet and space for a king bed."

The building includes underground parking, storage lockers, indoor pool, gym and outdoor patio.

Located on Nepean Street in Centretown, this one-bedroom and one-bathroom condominium is listed for $469,900.

Gloucester - $399,900

This stacked home on Ozawa Private has two bedrooms and one bathroom, and is on the market for $399,900.

According to the listing on Realtor.ca, the home has an open concept layout, 9 ft. ceiling, quartz countertops in the kitchen and bathroom and stainless steel appliances.

This stacked home on Ozawa Private is listed for $399,900. It includes two bedrooms and stainless steel appliances. (Realtor.ca/website)

Heron Gate - $394,900

Located in Ottawa's Heron Gate/Industrial neighbourhood, this home on the market on Bannerhill Private has three bedrooms and two bathrooms.

"Incredible opportunity in a family friendly enclave for First time Home Buyers and Investors! Conveniently located, this 3 bed, 2 bath townhome will check all your boxes!," says the listing on Realtor.ca

"Open concept Dining/Living Room on the main floor is the perfect setting for spending time with family and friends."

The home includes a large carport.

This three bedroom, two bathroom home on Bannerhill Private is on the market for $394,900. The home includes a large carport. (Realtor.ca/website)

Kanata - $449,900

This home on Baneberry Crescent in Kanata has three bedrooms and two bathrooms and is for sale at $449,900.

"The main floor boasts a sunny, open-concept design with a well-maintained kitchen and spacious living room leading to a cozy backyard with raspberry bushes and a pear tree," says the listing on Realtor.ca

"Upstairs, find three bedrooms, including a generous primary bedroom with a walk-in closet and access to a full bathroom."

There is a private condo play area and the home is near parks, restaurants, schools and the public library.

This home on Baneberry Crescent is listed for $449,900. It has three bedrooms, two bathrooms, an attached garage and there is a private condo play area nearby. (Realtor.ca/website)

Orleans - $494,900

This three-bedroom, three bathroom home on Nightingale Street in Orleans is listed at $494,900.

"Close to walking trails, transit and parks with very family friendly streets," says the listing on Realtor.ca

The home includes an attached garage.

Listed at $494,900, this home on Nightingale Street has three bedrooms and an attached garage. (Realtor.ca/website)

Riverside South - $429,900

This two-bedroom, two bathroom condo in Riverside South is for sale for $429,900.

The home has almost 1,500 sq. ft.

"The main floor has beautiful wood cabinets, granite countertops and California shutters," says the listing on Realtor.ca. "Along with the open concept living and dining room, there is a flex space that can be used as a tv room, office or a dining room. Freshly painted with shiny variegated hardwood floors, the main floor is rounded out by a half bath that also has granite countertops." 

This Riverside South condo on Windswept Private is 10 minutes from the Ottawa International Airport. It has two bedrooms and two bathrooms. (Realtor.ca/website)

Stittsville - $377,900

This two-bedroom, 1 bath condominium apartment on Stitsville Main Street is listed at $377,900.

"Perfect for 1st time buyers, downsizers or investment property. Open concept living, dining and kitchen area perfect for entertaining," says the listing on Realtor.ca. "Living area has patio doors to west facing balcony with natural gas BBQ hookup."

The home includes a four-piece bathroom with a soaker tub and separate tower and a laundry room with stacked washer/dryer. A parking space is included.

A condominium in this building on Stittsville Main Street is on the market for $377,900. It includes two-bedrooms and a bathroom. (Realtor.ca/website)

--With files from CTV News Ottawa's Sam Houpt

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