"Should I buy in London South, or make the move out to St. Thomas?" As a broker working across both Middlesex and Elgin counties, I get asked this constantly. Both areas are booming right now, but for very different reasons — and the right answer depends less on price than on how you actually want to live.
London vs. St. Thomas at a glance (September 2026)
| London | St. Thomas | |
|---|---|---|
| Median sale price, all homes (July to September) | $545,000 (rounded) | $509,000 |
| Detached, median | $610,000 (254 sales) | $503,000 (31 sales) |
| Townhouse, median | $482,000 (68 sales) | Too few sales (1) |
| Condo apartment, median | $247,500 (30 sales) | No sales |
| Homes sold in September | 383 | 43 |
| Median days on market | 31 days | 29 days |
| Average sale-to-list price | 96.7% | 97.6% |
| Municipal land transfer tax | None | None |
Source: PropTx MLS® System via REALM, residential sales in London (North, South and East) and St. Thomas, September 2026 (all-homes median: July to September 2026), retrieved 18 October 2026. Not official LSTAR statistics. St. Thomas has far fewer sales a month than London, so its medians move more from month to month, especially by home type.
Run your own numbers
City averages hide the home you'd actually buy. Put in a price for a home you'd consider in each city and see the down payment, land transfer tax, mortgage insurance, cash to close and monthly payment side by side.
London vs St. Thomas: what the same budget costs to finance
Enter a price for a home you'd consider in each city. Everything updates as you type, and nothing is sent anywhere unless you ask for homes below.
| Item | London (example price) | St. Thomas (example price) |
|---|---|---|
| Price | $600,000 | $525,000 |
| Down payment | $60,000 | $52,500 |
| Mortgage insurance (added to the loan) | $16,740 | $14,648 |
| Ontario land transfer tax | $8,475 | $6,975 |
| Tax on mortgage insurance (paid at closing) | $1,339 | $1,172 |
| Cash to close (before legal fees, inspection and adjustments) | $69,814 | $60,647 |
| Monthly mortgage payment | $3,081 | $2,696 |
| Monthly mortgage plus property tax | Add tax above | Add tax above |
| Payment your lender tests you at | $3,729 | $3,263 |
At these prices, St. Thomas costs about $385 a month less to finance (mortgage only; add both tax bills to include tax), and needs $9,167 less cash to close. Downtown London is around 30 minutes from St. Thomas off-peak, so count your weekly drives too.
This compares financing only. It leaves out condo fees, heating, home insurance, maintenance, legal fees, inspection and title insurance. It assumes an owner-occupied one- or two-unit home, a traditional down payment and a fixed-rate mortgage with Canadian semi-annual compounding. Neither city charges a municipal land transfer tax. Rules used: Ontario land transfer tax brackets, CMHC premiums, and the federal stress test (the higher of 5.25% or your rate plus 2%). Your lender and lawyer confirm the real figures.
London South: established, walkable, close to everything
London South — think Wortley Village, Old South, and the streets around Victoria Hospital — is one of London's most established, walkable pockets. Mature trees, character homes, and a genuine village-feel main street give it a lifestyle first-time visitors don't expect from a city London's size. You're minutes from downtown, Western University, and both major hospitals, which makes it a strong fit for healthcare workers, academics, and anyone who wants city amenities without a long commute.
St. Thomas: growth, new construction, and real affordability
St. Thomas has changed fast. Amazon's Talbotville fulfilment centre is operating, while PowerCo's battery plant is expected to start production in 2029. Treat future employment as a plan to verify, rather than an existing reason to stretch your budget. What you get in St. Thomas that's harder to find in London South: more square footage and a bigger lot for the same budget, and a shorter commute if you're working at either of those new employers rather than downtown London.
Housing stock: character vs. new build
London South skews toward character homes built pre-1960 — charming, but often meaning older mechanicals, smaller lots, and a premium for walkability. St. Thomas offers both older streets near the core and newer subdivisions. New construction can offer choices before completion, but review the builder's agreement, included finishes and closing adjustments; a newer property is not a substitute for due diligence.
Commute reality check
St. Thomas is about 29 km south of downtown London. South London and Highway 401 at Wellington Road are about 20 to 25 minutes away, and downtown, north London and Western University are around 30 minutes off-peak. The main routes north are Highway 4 and Highbury Avenue, which also reaches the 401. Highway 402 runs west from London toward Sarnia; it isn't the direct route between St. Thomas and London.
Test the drive from the specific home to your actual workplace at the time you travel. A route to Victoria Hospital, Western University or a Talbotville employer is a different trip. Use the live directions in the city guides and include your weekly trips, not just the commute on a quiet afternoon.
Compare the whole purchase, not just the asking price
Shortlist a home in each city at your lender-confirmed budget. Compare space and layout, inspection findings, near-term repairs, condo fees where relevant, closing costs and your weekly travel. The cheaper asking price is not always the lower ongoing cost.
Property tax: how the two cities compare
Both cities charge property tax on a home's MPAC assessment, not on the price you pay, and both set new rates every year. So a city-wide rate is a weak guide on its own: two homes at the same price can carry very different bills. Use the annual tax shown on each listing, which you can enter in the tool above.
St. Thomas's 2026 budget raised the municipal share of the tax by 6.1%, about $96 a year for every $100,000 of residential assessment. For current rates, check the property tax pages on london.ca and stthomas.ca.
Land transfer tax is the same in both cities: Ontario's provincial tax only, with no municipal tax on top. Eligible first-time buyers can get up to $4,000 of it refunded.
A practical next step for first-time buyers
Choose your three must-haves and one trade-off you can accept. Then compare the same property type in both cities. I can help you build that shortlist, review comparable sales and plan the offer conditions before you commit.
So which one?
If lifestyle, walkability and character matter most, London South is hard to beat. If you're chasing new-construction value, more space per dollar, and you're not tied to downtown London for work, St. Thomas is one of the strongest growth stories in the region right now. I walk both areas personally — not from a builder's sales office — so if you want an honest read on which one fits your life, let's talk.
Frequently asked questions
Is St. Thomas cheaper than London, Ontario?
Usually, for the same type of home. In September 2026 the median detached home sold for $503,000 in St. Thomas, against $610,000 in London (PropTx MLS® System via REALM, not official LSTAR statistics). Compare the same property type, because city-wide medians mix very different homes, and London sells far more condos and townhouses.
How long is the drive from St. Thomas to London?
St. Thomas is about 29 km south of downtown London. South London and Highway 401 at Wellington Road are about 20 to 25 minutes away, and downtown, north London and Western University are around 30 minutes off-peak. Test the drive from the actual home at the hours you'd travel.
Do London or St. Thomas charge a municipal land transfer tax?
No. Buyers in both cities pay only Ontario's land transfer tax. Eligible first-time buyers can get up to $4,000 of it refunded.
Is PowerCo still coming to St. Thomas?
Yes. PowerCo's battery plant is under construction, and PowerCo said in late September 2026 that it now expects to begin operations in 2029, two years later than first planned. Ontario expects it to create up to 3,000 direct jobs. Treat future jobs as a plan to verify, not a reason to stretch your budget.
