Neighbourhood guide · Toronto & the GTA
Living in Peterborough: Neighbourhood & Real Estate Guide
Is Peterborough a good place to live? Neighbourhoods, 2026 home prices, commuting to Toronto, universities and lakes, plus honest pros and cons.
By Irina Marchenkova, Sales Representative, RE/MAX Realtron Realty · Seniors Real Estate Specialist (SRES®) · Last updated September 2026
Peterborough is a lakes-and-rivers city about 90 minutes northeast of Toronto, known as the gateway to the Kawarthas. With Trent University and Fleming College, a lively downtown, the famous Lift Lock and easy access to cottage country, it’s popular with families, retirees and remote workers looking for more space and a slower pace.
This guide covers Peterborough’s neighbourhoods, homes and prices, getting around, schools, lifestyle and the honest pros and cons.
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Peterborough at a glance
- Where: About 135 km northeast of Toronto on the Otonabee River
- Homes: Century homes, post-war bungalows, newer subdivisions and a small condo market
- Getting to Toronto: Highways 115 and 35 to the 401 and 407, plus GO bus service
- Best for: Retirees and downsizers, remote workers, families and cottage-country lovers
- Big draws: The Lift Lock, Little Lake, the Canadian Canoe Museum and the Kawartha Lakes
Why people choose Peterborough
More space, lower prices. Peterborough’s prices are well below the GTA’s, so buyers can often afford a detached home with a yard.
Gateway to cottage country. The Kawartha Lakes and Trent-Severn Waterway are right on the doorstep.
A real city with small-town warmth. Downtown restaurants, theatres, a hospital, a university and a college, without big-city traffic.
Great for downsizing. Many retirees and downsizers choose Peterborough for its pace, healthcare and community.
For clients moving from Toronto to Peterborough, I always recommend spending a weekend there in both summer and winter. It’s a wonderful lifestyle, and it’s important to know it’s the right one for you before you buy.
— Irina Marchenkova
Peterborough neighbourhoods
Popular Peterborough neighbourhoods include:
Downtown & the Avenues
Century homes on tree-lined streets near downtown shops, restaurants, Little Lake and Jackson Park.
East City
A historic neighbourhood across the Otonabee River with character homes and a village feel.
Northcrest & Trent area
North-end neighbourhoods near Trent University, with family homes and newer subdivisions.
Kawartha Heights & the West End
Newer family subdivisions with parks, schools and shopping close by.
Homes and prices in Peterborough
Peterborough’s housing includes:
- Century homes downtown, in the Avenues and in East City
- Post-war bungalows and side-splits across the city
- Newer subdivisions in the west and north ends
- Condominiums and townhouses, including options for downsizers
- Waterfront and cottage properties in the surrounding Kawarthas
Peterborough prices (summer 2026)
Peterborough is outside TRREB’s benchmark areas, so here are the latest local sales figures:
| Area | Month | Homes sold | Average sale price | Change vs. last year |
|---|---|---|---|---|
| City of Peterborough | July 2026 | 98 | $605,068 | -2.7% |
| City of Toronto (benchmark) | September 1,9376 | — | $810,000 | -3.73% |
Averages can shift from month to month depending on the mix of homes sold, and waterfront properties in the surrounding Kawarthas are priced differently from homes in the city. For recent sold prices on a specific street or lake, ask me for a free market report.
Thinking of selling? Get a free home evaluation and I’ll show you what comparable homes near you have actually sold for.
Market snapshot
In July 2026, 98 homes sold in the City of Peterborough at an average price of $605,068, down 2.7% from a year earlier, according to Century 21 United Realty’s analysis of MLS® data. Across the GTA in September 2026, homes sold for about 98% of list price on average after 34 days on the market (TRREB). For current Peterborough and Kawarthas numbers, ask me for a free market report.
What it costs to buy in Peterborough
Land transfer tax
Peterborough is outside the City of Toronto, so buyers pay only Ontario’s land transfer tax, not the extra Toronto municipal tax. Here’s what that looks like at typical prices:
| Example purchase | Ontario LTT | First-time buyer pays |
|---|---|---|
| Average-priced home at $605,000 | $8,575 | $4,575 |
| Townhouse or condo at $450,000 | $5,475 | $1,475 |
First-time buyers can get a refund of up to $4,000 on the Ontario land transfer tax. You (and your spouse) must never have owned a home anywhere in the world. Land transfer tax is paid on closing, on top of your down payment, so budget for it along with legal fees, title insurance and moving costs.
Property taxes
Peterborough’s residential property tax rate is 1.889% (2026 final rate, City of Peterborough), or about $1,889 a year for every $100,000 of assessed value. In Ontario, property tax is based on your home’s MPAC assessed value, which is still based on January 1, 2016 values and is usually well below today’s market price. You can find a home’s assessment on its latest tax bill or through MPAC.
| MPAC assessed value | Approximate yearly property tax |
|---|---|
| $400,000 | $7,556 |
| $600,000 | $11,334 |
| $800,000 | $15,112 |
| $1,000,000 | $18,890 |
Getting around
- Driving: Highway 115 connects to Highways 401 and 407; the drive to Toronto is roughly 90 minutes depending on traffic.
- GO Transit: GO bus service connects Peterborough with Oshawa and the Lakeshore East train line.
- Local transit: Peterborough Transit buses serve the city, including Trent University and Fleming College.
- Waterways: The Trent-Severn Waterway connects Peterborough to the Kawartha Lakes by boat.
Schools and family life
Peterborough is served by the Kawartha Pine Ridge District School Board and the Peterborough Victoria Northumberland and Clarington Catholic District School Board, with French-language options available. Trent University and Fleming College are both in Peterborough.
Peterborough Regional Health Centre serves the city and surrounding area.
Child care
Licensed child care in Ontario is far more affordable than it was a few years ago. At centres enrolled in the Canada-wide Early Learning and Child Care program, fees for children under 6 are capped at $22 a day in 2026, and families with lower incomes can apply for a fee subsidy that reduces the cost further. (The long-promised $10-a-day average has not yet been reached in Ontario.)
In Peterborough, you apply for a space directly with each licensed child care centre, and the City manages fee subsidies for families in the City and County.
My tip: get on waitlists as early as possible, ideally several months before you move or before parental leave ends, and ask each centre whether it’s enrolled in the reduced-fee program.
- Ontario: Find and pay for child care: search licensed centres province-wide and learn about fee subsidies
- City of Peterborough: Child Care Fee Subsidy: eligibility calculator and application
Parks, shopping and things to do
- Peterborough Lift Lock: one of the world’s highest hydraulic lift locks
- Canadian Canoe Museum: in its new home on Little Lake
- Little Lake and Jackson Park: trails, beaches and festivals
- Riverview Park and Zoo: a free, family-friendly zoo
- Downtown: restaurants, cafés, theatres and live music
- The Kawarthas: lakes, boating and cottage country minutes away
- Petroglyphs Provincial Park: Indigenous rock carvings about 45 minutes northeast
- Warsaw Caves Conservation Area: caves, trails and swimming nearby
- Art Gallery of Peterborough: on the shore of Little Lake
- Peterborough Musicfest: free summer concerts at Del Crary Park
- Showplace Performance Centre: theatre and concerts downtown
Pros and cons of living in Peterborough
Pros
- Much lower prices than the GTA
- Gateway to lakes and cottage country
- University, college and regional hospital
- Friendly community with a slower pace
- Popular with retirees and remote workers
Cons
- About 90 minutes from Toronto by car
- No direct GO train service
- Fewer high-paying local jobs than the GTA
- Winters can feel long
- Waterfront properties command a premium
Before you buy in Peterborough: local checklist
Every area has its own rules and quirks. Here’s what I check with buyers in Peterborough:
- Flood-prone areas: parts of Peterborough flooded in 2004, and properties near the Otonabee River and creeks may be regulated by Otonabee Region Conservation Authority.
- Rural and cottage properties: outside the city, inspect the septic system and well water, and confirm year-round road access.
- Waterfront: check shoreline road allowances and any restrictions on docks and boathouses.
- Student rentals: near Trent University and Fleming College, confirm any rental unit is legal.
- Condos: always review the status certificate, reserve fund study and any upcoming special assessments before you firm up an offer.
- Non-Canadian buyers: check the current federal foreign-buyer rules and Ontario’s Non-Resident Speculation Tax before making an offer.
Buying or selling in Peterborough with Irina
I’m a RE/MAX Realtron Realty Sales Representative and Seniors Real Estate Specialist (SRES®). Many of my Toronto clients look to Peterborough when they want more space, are downsizing or are planning for retirement. Whether you’re buying your first home outside the city or selling in Toronto to move north, I’ll give you honest, local advice about Peterborough, in English or Russian.
- Buying with Irina: how I help buyers find the right home and negotiate well
- Selling with Irina: pricing, preparation and marketing that gets results
- Pre-construction: new condos and homes across the GTA
- Free home evaluation: find out what your home is worth today
- First-time buyer guide, mortgage pre-approval and closing costs: plan your budget before you shop
- New to Canada? My guide to buying a home as a newcomer
Call or text 416-846-8064 or email irina@loveurlife.ca, or send me a message below.
Plan your move to Peterborough
What would I pay each month?
The 4.5% interest rate is only an example; use the rate your lender or mortgage broker quotes. 30-year amortizations on insured mortgages are for first-time buyers and new builds. Outside Toronto, only Ontario land transfer tax applies. This is an estimate, not financial advice.
Peterborough real estate FAQ
Is Peterborough a good place to live?
For many buyers, yes. Peterborough offers lower prices than the GTA, easy access to the Kawartha Lakes, a university, a college and a regional hospital, with a friendly, slower pace of life.
How much does a house cost in Peterborough?
According to Century 21 United Realty’s analysis of MLS® data, the average sale price in the City of Peterborough was $605,068 in July 2026, down 2.7% from a year earlier. Prices vary widely by neighbourhood and property type.
How far is Peterborough from Toronto?
Peterborough is about 135 km northeast of Toronto, roughly a 90-minute drive via Highway 115 and Highways 401 or 407, depending on traffic.
Is there a GO train to Peterborough?
There is no direct GO train, but GO bus service connects Peterborough with Oshawa, where you can catch the Lakeshore East train.
Is Peterborough good for retirees?
Yes. Many retirees and downsizers choose Peterborough for its lower prices, regional hospital, walkable downtown, lakes and community.
Useful links
Official sources and local resources I recommend to buyers and sellers (links open in a new tab):
- City of Peterborough
- Peterborough property tax information: 2026 rates
- Ontario first-time buyer land transfer tax refund
- MPAC: look up a property’s assessed value
- Kawartha Pine Ridge District School Board
- Peterborough Victoria Northumberland and Clarington Catholic District School Board
- Fraser Institute school rankings: compare Ontario school results
- Otonabee Conservation: check flood and regulated areas
- GO Transit: regional trains and buses
- Trent University
- Canadian Canoe Museum
Explore nearby areas
- Oshawa: about an hour south
- Whitby and Ajax: Durham Region
- Scarborough: Toronto’s east end
- All area guides: every neighbourhood guide in one place
- Interactive map: see every area on one clickable map
Compare neighbourhoods: Most affordable areas · Best for families · Best for downsizing · First-time buyer guide · Downsizing guide · All neighbourhood guides