Buying Real Estate in Vaughan, ON
Check out the Communities and Neighbourhoods around Vaughan
Vaughan is a city in Ontario, Canada. It is located in the Regional Municipality of York, just north of Toronto. Vaughan was the fastest-growing municipality in Canada between 1996 and 2006 with its population increasing by 80.2% during this time period and having nearly doubled in population since 1991. It is the fifth-largest city in the Greater Toronto Area, and the 17th-largest city in Canada.
The township was named after Benjamin Vaughan, a British commissioner who signed a peace treaty with the United States in 1783.
Within the Greater Toronto Area, Vaughan is the third-largest employment center, after Toronto and Mississauga. With a real Gross Domestic Product (GDP) of $20.6 billion in 2018, it is the largest contributor (35%) to York Region’s economy.
In 2018, the city was home to 12,105 businesses employing more than 222,000 people. Between 2008 and 2018, Vaughan’s average annual employment growth was 3.2% and its business growth was 2.9%, exceeding provincial and national rates.
Manufacturing continues to dominate the local economy, accounting for 22% of total employment, followed by Construction (13%), Retail Trade (12%), Wholesale Trade (10%) and Transportation and Warehousing (6%). Small businesses with fewer than 20 employees account for 81% of all business establishments.
In 2018, the Accommodation and Food Services industry accounted for $295 million of Vaughan’s real gross domestic product. Vaughan currently has 12 hotels and four motels with a total of 1,845 rooms. Development applications have been submitted that have the potential to add another 1,200 rooms to current supply in the coming years. Major tourism operators include Canada’s Wonderland, Vaughan Mills, the McMichael Canadian Art Collection, the Kortright Centre for Conservation, LEGOLAND Discovery Centre, Reptilia, the mainstreet and village cores of Kleinburg, Thornhill, and Woodbridge.
Entrance to McMichael Gallery in Kleinburg
Construction activity, as measured by value of building permits, has exceeded the $1 billion mark in eight of the last ten years.
Your #1 Guide To Real Estate In Vaughan
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The City Of Vaughan
- Vaughan has a Livability Score of 92/100, which is considered exceptional
- Vaughan Crime Rates are 31% lower than the Ontario average
- Cost of Living in Vaughan is 3% higher than the Ontario average
- Vaughan Real Estate prices are 17% higher than the Ontario average
- Rental Prices in Vaughan are 4% lower than the Ontario average
The #1 guide to living in Metro Toronto, ON for 2021, is compiled using the AreaVibes Livability Score which is calculated from a score out of 100 and based on various categories. These categories include amenities, cost of living, crime rates, education, employment, housing, and weather.
Greater Toronto Area
The Greater Toronto Area, commonly referred to as the GTA, includes the City of Toronto and the regional municipalities of Durham, Halton, Peel, and York. In total, the region contains 25 urban, suburban, and rural municipalities. The Greater Toronto Area begins in Burlington in the Halton Region, and extends along Lake Ontario past downtown Toronto eastward to Clarington in the Durham Region.
According to the 2021 census, the Census Metropolitan Area (CMA) of Toronto has a total population of 6,202,225.