It’s no secret that the cost of living is skyrocketing everywhere, and nowhere is this more true than in the GTA. Although housing prices in Toronto can rise and fall, they are still hovering at a little under $2 million for a detached home, and over a million for a semi-detached. This does not exactly represent the bargain of the century for anyone searching for a more affordable lifestyle, to get into their first home, or to upgrade to more space without breaking the bank.
As if rising housing prices aren’t enough, the cost of borrowing and inflation are driving everything up, especially the cost of rent. That’s why it’s not surprising that so many people are looking for a nearby alternative where they can enjoy all the perks of the GTA without the financial strain.
Nearby cities like Peterborough and Barrie deserve your consideration when moving away from the GTA. Which is better for your lifestyle? In this post, we’ll give you yet another side-by-side comparison so you can make the best decision for your future.
The Cost of Living
Barrie and Peterborough are both more affordable than Toronto in almost every aspect, and especially when it comes to the housing market. Compared with each other, average real estate values are slightly higher in Peterborough at the time of this writing.
Average prices will vary, but you can generally get a detached home in Peterborough or Barrie for a little under $900,000. If you choose a condo or townhouse, getting into either market is even more accessible.
In either case, you can expect a higher quality of life where every dollar stretches much further.
Rent in Barrie is approaching $1,900 for a one-bedroom unit, which is 10% above the national average. At the same time, rent prices in Peterborough were a little under $1,800, giving Peterborough a slight edge when it comes to affordability.
Are you still on the fence? Here are a few more points in Peterborough’s favour:
- 5 Fun Things To Do In The City Of Peterborough Right Now
- Where Are Peterborough’s Best Eats?
- Is Peterborough Dog Friendly?
Proximity to Toronto
Peterborough lies approximately 140 km northeast of Toronto and is easily accessible along Highway 401 and 407. You can expect the drive to take around 90 minutes, depending on traffic.
Barrie is located 100 km directly north of Toronto along Highway 400. Though geographically closer, traffic can be catastrophic on the highway at times, especially during “cottage season.”
On the other hand, Peterborough is also close to urban centres such as Oshawa, Ajax, and Trenton, which could make the need to travel to Toronto rare.
Population
According to the 2021 census, Barrie has a population of approximately 147,000. Peterborough is a little smaller, currently home to nearly 84,000 people. If you prefer a busier city, Barrie might work for you.
On the other hand, if you would love all the benefits of big city life without long lineups, traffic jams, and crowds, Peterborough wins by a mile. As with many things, it comes down to your preferences and the lifestyle you envision for your family.
Employment and Business Opportunities
As a bustling tourist area, Barrie offers plenty of retail and hospitality positions. Unfortunately, there are not many high-paying fields, which may make it necessary to commute or work remotely.
Contrast that with Peterborough, where thriving technology, manufacturing, and agriculture sectors provide outstanding opportunities with tons of room for advancement. With superb support networks and training workshops available, Peterborough is also a great place to start a business of your own.
In fact, the Peterborough CMA has the highest rate of immigrant entrepreneurs in Canada! There’s a reason why many young people with advanced degrees are starting to turn their eyes toward Peterborough!
Education
Barrie’s public schools are under the Simcoe County District School Board, while Peterborough belongs to the Kawartha Pine Ridge District School Board. In either case, parents will have access to high-quality education, whether in the public, Catholic, or private sphere.
When it comes to post-secondary schooling, Peterborough wins hands down. Trent University consistently ranks as one of the top institutions in Canada. Just imagine 1,400 acres of beautiful scenery along the banks of the Otonabee River, dotted by majestic architectural buildings. If you’ve ever wanted to earn a degree while being immersed in a perfect blend of tranquility and excitement, Peterborough just might be calling your name.
Public Transit
Both Barrie and Peterborough offer access to public transportation. Barrie operates a total of nine fixed routes, as well as Transit-on-Demand service that you can book in advance in areas that are less serviced.
Once again, our unbiased opinion is that Peterborough offers another edge with a more robust transit system. There are 11 routes where the buses run regularly seven days a week, making it easy to get anywhere around the city.
Peterborough features the Trans-Cab Service for areas without regular buses. Community buses are also ideal for people with mobility constraints and other accessibility needs.
That said, who needs transit if it’s a beautiful day and you have access to a bike? Another interesting fact about Peterborough is that it is one of the most cycling-friendly cities in the province!
Looking for even more comparisons to Peterborough? You may enjoy the related reading below:
- Peterborough vs. Other Small Cities in Ontario
- Rural vs City Life: What Should You Choose?
- Living In Toronto Vs Peterborough: What’s Better?
Greenery
If beautiful green spaces are a must for your new home, Barrie and Peterborough are both breathtaking. You’ll find stunning parks and waterfront trails in either case. However, Peterborough’s greenery is in a class of its own, and you would be hard-pressed to find anywhere that compares.
Though there are many great reasons to put down roots in Peterborough, the city’s network of more than 100 parks and trails is one of the best. Whether you’re relocating with your family, searching for an affordable place to launch your career, or looking to retire while being surrounded by gorgeous scenery, Peterborough has it all and more. We hope you enjoyed yet another unbiased review about life in Peterborough!
If you have questions about buying or selling a home here, our knowledgeable Peterborough real estate agents would love to chat with you. Reach out to team@jeffandkatie.ca or call 705-243-9797 today.
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Curious about your real estate options? Relocating to the Peterborough area? Our experts are ready to help.
