Top 22 cheapest places to live in Canada
This article ranks the 22 most affordable places to live in Canada, primarily based on the average cost of purchasing a home. Other factors, such as rental prices, average income and a city’s overall assets, were also taken into account when determining the final order of the list.
1. Cape Breton, Nova Scotia
- Population: 132,010
- Average income: $67,549
- Average rent: $1,597/month for a two-bedroom apartment
- Average house price: $212,100
Cape Breton offers stunning coastal views (including one of the most breathtaking drives in the country, Cabot Trail), a relaxed lifestyle and affordable housing.
2. Saint John, New Brunswick
- Population: 67,575
- Average income: $55,450
- Average rent: $1,324/month for a two-bedroom apartment
- Average house price: $303,400
Saint John has a low cost of living, beautiful waterfront views and a growing job market.
3. Fredericton, New Brunswick
- Population: 58,220
- Average income: $51,197
- Average rent: $850/month for a two-bedroom apartment
- Average house price: $308,200
Fredericton residents enjoy a high quality of life, along with affordable housing.
4. Regina, Saskatchewan
- Population: 215,106
- Average income: $52,128
- Average rent: $1,472/month for a two-bedroom apartment
- Average house price: $318,100
Regina, the provincial capital of Saskatoon, is a growing city with a strong economy and friendly communities.
5. Medicine Hat, Alberta
- Population: 65,949
- Average income: $44,457
- Average rent: $961/month for a two-bedroom apartment
- Average house price: $336,469
Medicine Hat is known as one of the sunniest cities in Canada, and boasts numerous parks and recreational opportunities.
6. Trois-Rivières, Quebec
- Population: 137,188
- Average income: $46,440
- Average rent: $1,300/month for a two-bedroom apartment
- Average house price: $353,000
Trois-Rivières is known for its outdoor lifestyle, scenic beauty and cultural events.
7. Thunder Bay, Ontario
- Population: 110,172
- Average income: $44,934
- Average rent: $1,597/month for a two-bedroom apartment
- Average house price: $373,684
Located on the shores of Lake Superior, this city offers incredible natural beauty and lots of outdoor activities, as well as a slower pace of life.
8. Lethbridge, Alberta
- Population: 104,254
- Average income: $41,663
- Average rent: $1,094/month for a two-bedroom apartment
- Average house price: $391,867
Lethbridge is Alberta's third-largest city and has a lively arts scene, lots of outdoor activities and is home to the University of Lethbridge.
9. Red Deer, Alberta
- Population: 101,002
- Average income: $44,175
- Average rent: $1,898/month for a two-bedroom apartment
- Average house price: $394,254
Centrally located between Edmonton and Calgary, Red Deer offers affordable housing, a diverse economy and easy access to outdoor activities.
10. Prince George, British Columbia
- Population: 74,003
- Average income: $45,364
- Average rent: $1,400/month for a two-bedroom apartment
- Average house price: $400,000
Prince George is known for its natural beauty, outdoor endeavours and strong sense of community.
11. Moncton, New Brunswick
- Population: 85,198
- Average income: $46,331
- Average rent: $1705/month for a two-bedroom apartment
- Average house price: $402,354
Moncton flaunts a vibrant community, economic growth and low living costs.
12. Charlottetown, Prince Edward Island
- Population: 36,094
- Average income: $45,220
- Average rent: $950/month for a two-bedroom apartment
- Average house price: $458,000
Charlottetown is known for its historic charm, farm-to-table food scene, inviting ambiance and laidback lifestyle.
13. Sherbrooke, Quebec
- Population: 167,762
- Average income: $46,317
- Average rent: $1,230/month for a two-bedroom apartment
- Average house price: $515,422
Sherbrooke prides itself on its blend of urban and natural attractions, with affordable housing.
14. St. John's, Newfoundland and Labrador
- Population: 108,860
- Average income: $50,780
- Average rent: $1,135/month for a two-bedroom apartment
- Average house price: $345,200
St. John's offers a unique blend of history, culture and a stunning harbour (with occasional whale and iceberg sightings).
15. Winnipeg, Manitoba
- Population: 749,607
- Average income: $56,550
- Average rent: $1,725/month for a two-bedroom apartment
- Average house price: $362,700
You may not know it, but Winnipeg has a strong cultural and foodie scene, as well as engaging museums.
16. North Bay, Ontario
- Population: 51,553
- Average income: $44,399
- Average rent: $1,254/month for a two-bedroom apartment
- Average house price: $423,700
North Bay, situated on the shores of Lake Nipissing, has a wonderful balance of urban amenities and outdoor recreational opportunities.
17. Saskatoon, Saskatchewan
- Population: 273,010
- Average income: $55,275
- Average rent: $1,482/month for a two-bedroom apartment
- Average house price: $403,500
Saskatoon is a vibrant city that offers affordable living, a vibrant restaurant scene and a growing economy.
18. Quebec City, Quebec
- Population: 542,298
- Average income: $52,400
- Average rent: $1,595/month for a two-bedroom apartment
- Average house price: $405,512
Quebec City is known for its historic charm, cultural attractions, amazing food and must-see festivals.
19. Edmonton, Alberta
- Population: 1,010,899
- Average income: $51,965
- Average rent: $1,300/month for a two-bedroom apartment
- Average house price: $407,458
Alberta's capital city, Edmonton, offers a rich cultural scene, lots of festivals and a strong sense of community as well as an abundance of parkland.
20. Kingston, Ontario
- Population: 123,798
- Average income: $44,978
- Average rent: $1,600/month for a two-bedroom apartment
- Average house price: $565,700
Kingston, set along Lake Ontario, features enchanting historic charm, a vibrant downtown and is home to Queen's University.
21. Windsor, Ontario
- Population: 229,660
- Average income: $59,708
- Average rent: $1,675/month for a two-bedroom apartment
- Average house price: $585,100
Located in Southern Ontario, Windsor offers a wide range of affordable homes and welcoming neighbourhoods — plus, the American border is just a short drive away.
22. London, Ontario
- Population: 366,000
- Average income: $50,760
- Average rent: $2,099/month for a one-bedroom apartment
- Average house price: $617,600
A good spot to raise a family, London is home to one of Canada’s most respected universities, Western University, and is conveniently located between Toronto and the US border.
Empower your investments with Qtrade
Discover Qtrade's award-winning platform and take control of your financial future. With user-friendly tools, expert insights, and low fees, investing has never been easier.
Start Trading TodayIs Canada an affordable place to live?
Whether or not Canada is an affordable place to live depends entirely on where you want to live. If you want to live in major urban centres, such as Vancouver or Toronto, then you’ll be looking to spend an average of a million dollars or more on a home, making these cities unaffordable for most Canadians. If you’re willing to live outside of a major metropolis, then you’ll likely find Canada a more affordable place to live.
Which city has the most affordable housing in Canada?
Cape Breton, Nova Scotia, famed for its scenic Cabot Trail, fresh seafood and laidback lifestyle, offers some of the most affordable housing in Canada. Fredericton, New Brunswick, St. Johns, NB and Regina, Saskatchewan, also have some of the cheapest houses in Canada.
Unexpected vet bills don’t have to break the bank
Life with pets is unpredictable, but there are ways to prepare for the unexpected.
Fetch Insurance offers coverage for treatment of accidents, illnesses, prescriptions drugs, emergency care and more.
Plus, their optional wellness plan covers things like routine vet trips, grooming and training costs, if you want to give your pet the all-star treatment while you protect your bank account.
Get A QuoteWhat province has the lowest cost of living?
Because it's the only province without a provincial sales tax (though there is still a 5% goods and services tax) and has affordable housing overall, Alberta has one of the lowest costs of living in Canada. The territories of Yukon, Northwest Territories and Nunavut also don’t charge a provincial sales tax, but the cost of living is generally high in those regions because food and housing can be expensive due to scarcity.
What city in Canada has the lowest cost of living?
Statistics can vary significantly when trying to calculate what city in Canada has the lowest cost of living. However, cities with an affordable cost of living, good housing and a high quality of life include Cape Breton, Nova Scotia, Fredericton, New Brunswick, St. Johns, NB and Regina, Saskatchewan.
Where is rent cheapest in Canada?
Rent is among the cheapest in Canada in Fredericton, New Brunswick at $850 per month for a two-bedroom apartment. Charlottetown, Prince Edward Island ($950 per month), Medicine Hat, Alberta ($961 per month) and St. John's, Newfoundland and Labrador ($1,135 per month) also offer affordable rental options.
FAQs:
Which Canadian city has the lowest cost of living?
Several cities are consistently recognized for their affordability, good housing and high quality of life. These include Cape Breton, Nova Scotia; Fredericton, New Brunswick; St. John's, Newfoundland and Labrador; and Regina, Saskatchewan.
Which province in Canada is the cheapest to live in?
Alberta is generally regarded as one of the cheapest provinces to live in because it has no provincial sales tax and offers affordable housing even in its large urban centres.
Where is the warmest and cheapest place to live in Canada?
Windsor, Ontario is one of the warmest and most affordable cities in Canada. It has a humid continental climate with hot summers and mild winters compared to the rest of the country. The average high in July is around 28°C while January lows are a relatively mild -6°C. The cost of living is reasonable, with housing prices well below larger Canadian cities. Abbotsford, British Columbia and Nanaimo, British Columbia are also said to have agreeable, warm climates with a reasonable cost of living.
Sponsored
Trade Smarter, Today
Build your own investment portfolio with the CIBC Investor's Edge online and mobile trading platform and enjoy low commissions. Get up to $100 in commission-free options until October 31, 2024.
