Top 12 cheapest places to live In Ontario
Note that the main ranking was based on the cost of a home, with rental cost, average income and quality of life then being considered.
1. Sault Ste. Marie
- Population: 73,368
- Average income: $39,145
- Average rent: $1,600/month for a two-bedroom unit
- Average house price: $305,000
Sault Ste. Marie offers affordable and stunning natural beauty. It also offers lots of outdoor recreation opportunities.
2. Thunder Bay
- Population: 110,172
- Average income: $44,934
- Average rent: $1,597/month for a two-bedroom unit
- Average house price: $373,684
Located on the shores of Lake Superior, Thunder Bay is renowned for its beauty, friendly locals and all-season outdoor activities.
3. North Bay
- Population: 51,553
- Average income: $44,399
- Average rent: $1,254/month for a two-bedroom unit
- Average house price: $423,700
North Bay, located on the shores of Lake Nipissing, offers affordable lakeside living (a rarity in Ontario). The city has a combination of urban amenities and outdoor recreation opportunities, including hiking, skiing and water sports.
4. St. Catharines
- Population: 133,113
- Average income: $43,303
- Average rent: $1,854/month for a two-bedroom unit
- Average house price: $440,000
St. Catharines, part of the Niagara Region, has beautiful parks, great hiking trails and is close to legendary Niagara Falls, as well as Canada’s largest wine region.
5. Owen Sound
- Population: 21,341
- Average income: $40,087
- Average rent: $1,840/month for a two-bedroom unit
- Average house price: $463,000
The city is known for its beautiful harbour, vibrant arts scene and outdoor recreation opportunities.
6. Sudbury
- Population: 166,004
- Average income: $46,603
- Average rent: $1,258/month for a two-bedroom unit
- Average house price: $475,900
Known for its mining roots and abundance of outdoor activities, Sudbury has affordable housing options and a unique blend of urban amenities and natural wonders.
7. Sarnia
- Population: 72,047
- Average income: $43,404
- Average rent: $1,695/month for a two-bedroom unit
- Average house price: $542,643
Sarnia, popular with nature lovers, is located on the shores of Lake Huron.
8. Kingston
- Population: 123,798
- Average income: $44,978
- Average rent: $1,600/month for a two-bedroom unit
- Average house price: $565,700
Kingston, located along Lake Ontario, has enchanting historic charm, a vibrant downtown and is home to one of Canada’s most respected post-secondary institutions, Queen's University.
9. Windsor
- Population: 229,660
- Average income: $59,708
- Average rent: $1,675/month for a two-bedroom unit
- Average house price: $585,100
Located in Southern Ontario, Windsor offers a wide range of affordable homes and a vibrant cultural scene. It’s also close to the American border — perfect for those who love to shop!
10. London
- Population: 366,000
- Average income: $50,760
- Average rent: $2,099/month for a one-bedroom unit
- Average house price: $617,600
The ideal place for families looking for an urban lifestyle and excellent education opportunities, London is home to one of Canada’s most acclaimed universities, Western University.
11. Brantford
- Population: 104,688
- Average income: $47,160
- Average rent: $1,422/month for a two-bedroom unit
- Average house price: $675,000
Brantford, located along the Grand River, offers a mix of affordable housing, a strong sense of community and decent proximity to larger cities, such as Hamilton and Toronto.
12. Peterborough
- Population: 84,230
- Average income: $47,029
- Average rent: $2,049/month for a two-bedroom unit
- Average house price: $697,100
Peterborough, located in the Kawartha Lakes region, provides affordable living in a scenic setting.
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Start Trading TodayAverage rent in Ontario
According to a 2024 report by Rentals.ca, the average rent in Ontario is the second highest in the country (just below BC) with an average of $2,385. That means that if you can find a rent for under $2,000, you’re likely doing better than average.
The best place to live in Ontario if you’re looking for cheap rent will be in smaller towns, with the price generally getting better the farther north you go (with the exception of popular cottage country locations like Muskoka). Predictably, urban centres, such as Toronto, Mississauga and Burlington, have the highest rental costs in the country.
Ontario’s increasing living Costs
The cost of living in Ontario has been steadily increasing over the past few years, primarily due to rising housing prices. In major cities such as Toronto, the average home price has soared to over $1 million, making homeownership an impossibility for many. The rising cost of living in major metropolitan areas has led to a growing interest in finding more affordable places to live within the province (if not leaving the province altogether).
The cost of living in Ontario is also influenced by factors such as rising gas prices, transportation costs, groceries and utilities, which vary depending on the location. As a result, many Ontarians are seeking alternative living options both inside and outside of the province that offer a balance between affordability and good quality of life.
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Get A QuoteWhat makes a place affordable In Ontario?
When considering the affordability of a place in Ontario, several factors come into play, including housing, the general cost of living and the average income. Other important considerations include the proximity to urban centres, a sense of community and the cost of utilities and property taxes.
FAQs:
What is the best place to live in Ontario?
The best place to live in Ontario will depend significantly on what you prioritize for your lifestyle. Toronto may have the most to offer when it comes to things like culture, restaurants and events, but it also has the highest housing prices. Smaller towns will likely give you more easy access to the outdoors and cheaper housing, but you will have less easily available amenities and job opportunities. Ultimately, the best place to live in Ontario will depend on your individual needs and priorities.
Which city in Ontario has the lowest cost of living?
Sault Ste. Marie is, overall, one of the cities in Ontario with the lowest cost of living with affordable housing costs and a good quality of life. It’s worth noting that in a 2022 Financial Post article, Sault Ste. Marie ranked sixth in the list of most affordable places in Canada. One of the big factors that led to such a favourable ranking was its low average house cost of $305,000 for a family home and an average rent of only $1,600 for a two-bedroom apartment.
Where in Ontario are the cheapest house prices?
Sault Ste. Marie, Thunder Bay and North Bay have some of the cheapest housing prices in the province of Ontario, proving the rule that you’re more likely to get affordable home prices in locales that are sparsely populated and are situated in Northern Ontario regions. These towns offer a good balance between cheaper housing costs, solid amenities and a good quality of life (as long as you don’t mind a cold winter). If you want to stay in Southern Ontario, then Windsor and London are good options, both offering relatively affordable housing.
What is the cheapest place in Canada to live?
Several cities in Canada stand out for their affordability, making them attractive options for those looking to live on a budget. But be warned: predictably, many of these options are in smaller, sometimes remote areas. Trois-Rivières, Quebec, Cape Breton, Nova Scotia and Saskatoon, Saskatchewan are all affordable options. If you want to live in Ontario, then check out Windsor, which has reasonable housing costs and a typical grocery bill for a family of four ranging from $400 to $500 per month.
Where is the best place to retire in Ontario on a budget?
There are several good places to enjoy retirement in Ontario that feature beautiful scenery, an appealing quality of life and affordable housing. Options include Thunder Bay (for those who love the outdoors and appreciate winter activities), Kingston (great culture and food scene) and St. Catharine’s, which has affordable housing and is next door to one of Canada’s best wine regions.
Sources
1. Rentals.ca: August 2024 Update Rentals.ca Rent Report
1. Financial Post: Here are the 5 best Canadian cities for housing affordability and job growth (Jun 11, 2022)
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