Moving to London, Ontario: What to Know Before You Buy

London sits in southwestern Ontario and is the region’s largest city. If you are thinking of relocating, this guide covers the facts we could confirm from official sources, plus practical steps for buying a home.

How big is London?

According to the 2021 Census, the City of London had 422,324 residents (up 10.0% from 2016), and the London census metropolitan area had 543,551. Nearby municipalities also grew: St. Thomas had 42,840 (+10.1%), Middlesex Centre 18,928 (+9.7%) and Strathroy-Caradoc 23,871 (+14.4%). Smaller communities such as Komoka are parts of larger municipalities, and neighbourhoods inside London do not have their own census figures here.

Education and healthcare

London is home to two large post-secondary institutions.

• Western University reports about 42,978 students, including 5,445 international students, across 12 faculties and affiliated colleges.
• Fanshawe College describes itself as having approximately 43,000 students and over 200 programs. However, Fanshawe’s own program-suspension notice projects full-time term enrolment down 18% for 2026/27, from 42,946 to 35,233, so do not assume the student population is growing.
• London Health Sciences Centre (LHSC) calls itself London’s largest employer, with nearly 15,000 physicians, residents and staff.

These institutions shape the local rental market and employment base, which is useful context for buyers and investors. The enrolment change at Fanshawe, in particular, is worth considering if you plan to buy a rental near the campus.

What do homes cost?

LSTAR’s September 2026 release put the composite benchmark price at $552,500 and the single-family benchmark at $600,700, with 561 sales and 5.9 months of inventory. Our September 2026 market summary goes into more detail. Prices vary a lot by area, so see the London community page and our guide to choosing a family neighbourhood. If you are considering a smaller city nearby, see St. Thomas.

Buying costs to plan for

• Down payment: the minimum is 5% on the first $500,000 and 10% on the portion between $500,000 and $1.5 million.
• Ontario land transfer tax: on a $400,000 home it is $4,475. First-time buyers who meet the conditions can claim a refund of up to $4,000.
• Legal fees and adjustments at closing, which your lawyer will itemize.

See our buyer guide for the steps.

Property tax in the City of London

Property tax is a regular cost of ownership, so check it before you commit. According to the City of London:

• The City sends an interim bill (an estimate based on the previous year’s taxes plus the average residential rate increase), then a final bill after Council sets rates in April.
• In 2026, interim instalments were due February 27 and March 31, and final instalments June 30, August 31 and October 30.
• A penalty of 1.25% applies on the first day of default and each following month.
• Taxes are based on MPAC assessment, the City’s budget and the provincial education tax.
• A pre-authorized payment plan is available monthly from January to October.

Questions go to the City’s Tax Office at 519-661-4540 or taxoffice@london.ca. For more, see the City’s property tax page. Your lawyer will also adjust taxes at closing between you and the seller.

A moving checklist

1. Decide on a budget and speak to a lender about pre-approval.
2. Choose two or three areas and visit them at different times.
3. Check school boards and parks for specific addresses.
4. Ask your agent for recent sales in the areas you like.
5. Arrange a home inspection and a real estate lawyer.
6. Plan utilities, address changes and the move itself.

Talk to us

If you are coming from out of town, we can do much of this by video and phone. Contact us, or find out what your current home is worth with a home valuation.