Toronto Life just released their new 2015 neighbourhood ranking guide using an improved methodology to compare Toronto’s 140 neighbourhoods. The study examines ten factors that impact quality of life, weighting each based on their relative importance to Torontonians (as determined from past reader surveys), as seen in the graphic below courtesy of the Martin Prosperity Institute.
The Institute, made up of urbanists, economists, sociologists and information scientists, is a well-rounded think-tank from U of T’s Rotman School of Management and one of the key partners in Toronto Life’s study.
They worked with a variety of source data including community health profiles, the Fraser Institute’s school report cards, the Toronto Police Service crime figures, census data and various other studies in this follow-up to the controversial 2013 rankings.
So, which ‘hood known for its condo communities rose to the top of this year’s list?
Yonge and Eglinton Condos Situated Top of the ‘Hood Heap
I guess our blog title gave it away. Yonge and Eglinton blew away the competition on Employment scores and Entertainment (an obvious winner for this bustling region), two of the key reasons why Yonge and Eglinton condos are huge draws for young professionals.
This meshes with the City of Toronto’s new neighbourhood equity ranking system launched last year which places Yonge and Eglinton in third place as the ‘hood with the least deficiencies – you have to read the City’s ranking list in reverse order as it’s calling out the neighbourhoods in most need of investment and overhaul; in other words, you don’t want to be near the top of this rank.
Yonge & Eg also did really well in the Housing category which looks at affordability of homes on a cost versus income basis, quality in terms of percentage of homes in need of major repairs and year-over-year value appreciation.
With the volume of new Yonge and Eglinton condos for sale this year, the home scores aren’t all that surprising. The high percentage of condos in the residential mix lends itself to greater overall affordability and the fact that many buildings are brand spanking new means that they’re in prime condition and so naturally scored well in terms of lack of deficiencies and repair requirements.