Nov 27, 2024
Where are the best places to retire in Canada?
It’s no secret that Canada is considered one of the best places in the world to live. With incredible landscapes, universal healthcare and a multicultural society that welcomes people from all over the world, Canada is often considered the perfect place to call home.
But what about the perfect place to retire? Of course, every Canadian has their own individual idea of what constitutes an ideal place to retire: be it mild weather, a low cost of living, easy access to a multiplicity of outdoor activities or cultural amenities like museums and high-end dining.
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This article will explore the top 16 places to retire in Canada, with consideration given to a variety of factors, including the cost of living (as well as average income for those who may be hoping to find a second career in retirement), weather, quality of life and access to amenities. We also have options for those who consider affordable housing a “must,” as well as for those who want a more luxurious retirement experience.
Whether you're looking for a quiet rural retreat or a busy urban centre, we'll help you find the perfect place to spend your golden years.
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Top 16 best places to retire in Canada
1. Saskatoon, Saskatchewan
- Population: 288,311
- Average income: $49,643
- Average rent: $1,444/month for a two-bedroom apartment
- Average house price: $402,600
Saskatoon is a vibrant city with a strong sense of community, scenic parks and a thriving arts scene. Though it’s not the capital (Regina is), it’s actually the largest city in the province. Its affordable housing makes it among the best places to retire in Canada, income wise.
2. St. John's, Newfoundland and Labrador
- Population: 113, 468
- Average income: $50,780
- Average rent: $1,193/month for a two-bedroom apartment
- Average house price: $387,500
St. John's has a great culture and food scene, as well as a breathtaking harbour that offers occasional whale and iceberg sightings.
3. Charlottetown, Prince Edward Island
- Population: 38, 809
- Average income: $43,220
- Average rent: $1,627/month for a two-bedroom apartment
- Average house price: $490,468
Charlottetown is an incredibly picturesque city with a strong sense of community, excellent culinary offerings and a thriving arts scene, making it one of the best places in Canada to retire.
4. Goderich, Ontario
- Population: 7,881
- Average income: $40,441
- Average rent: $1,374/month is the average rental cost
- Average house price: $634,905
Goderich is a charming town on the shores of Lake Huron, known for its beautiful beaches and scenic parks. It’s often dubbed the "prettiest town in Canada."
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5. Parksville, British Columbia
- Population: 13,642
- Average income: $42,393
- Average rent: $2,377/month for a two-bedroom apartment
- Average house price: $800,099
Parksville is a popular retirement destination on Vancouver Island, known for its beautiful beaches and scenic parks.
6. St. Catharines, Ontario
- Population: 144,829
- Average income: $43,303
- Average rent: $1,921/month for a two-bedroom apartment
- Average house price: $439,600
St. Catharines, a charming city in Ontario, is a popular retirement destination known for its greenspaces, culture and affordable housing options. It’s also just next door from one of Canada’s largest and most acclaimed wine regions.
7. Penticton, British Columbia
- Population: 38,896
- Average income: $41,538
- Average rent: $1,475/month for two bedroom apartment
- Average house price: $669,123
Penticton is a desirable retirement destination thanks to its appealing blend of affordability, pleasant weather and a high quality of life. It’s also famous for its lovely beaches and numerous wineries.
8. Calgary, Alberta
- Population: 1,491,900
- Average income: $64,600
- Average house price: $577,700
- Average rent: $2,223/month for a two-bedroom apartment
Calgary is a vibrant city with a strong economy, known for its beautiful parks and outdoor recreation opportunities. Despite cold winters, it’s said to have the sunniest days in the country.
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9. Windsor, Ontario
- Population: 236,789
- Average income: $63,600
- Average house price: $579,290
- Average rent: $1,728/month for a two-bedroom apartment
Located in Southern Ontario, Windsor is a superior spot for retirement due to its cultural attractions and affordable housing options. It’s also close to the US border, making it attractive for those who enjoy cross-border shopping.
10. Collingwood, Ontario
- Population: 26,563
- Average income: $40,501
- Average house price: $767,902
- Average rent : $1,886 for two-bedroom apartment
Collingwood is popular with retirees due to its scenic surroundings, multiplicity of golf courses and skiing in the winter.
11. Cape Breton, Nova Scotia
- Population: 98,318
- Average income: $62,400
- Average house price: $337,790
- Average rent: $1,449/month for a two-bedroom apartment
Cape Breton offers that rare combination of affordable living (with accessible home prices), stunning scenery along the coast and a friendly community.
12. Montreal, Quebec
- Population: 1,792,000
- Average income: $57,246
- Average house price: $544,300
- Average rent: $2,312/month for a two-bedroom apartment
Montreal is a vibrant city with a fascinating history (it’s Canada’s oldest town), known for its beautiful parks, extraordinary cuisine and charming neighbourhoods.
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13. Saint John, New Brunswick
- Population: 73,611
- Average income: $49,684
- Average house price: $300,124
- Average rent: $1,452/month for a two-bedroom apartment
Saint John offers a low cost of living, beautiful waterfront views and a growing job market.
14. Kelowna, British Columbia
- Population: 153,385
- Average income: $45,330
- Average house price: $754,900
- Average rent: $2,504/month for a two-bedroom apartment
Kelowna is a popular retirement destination in the Okanagan Valley, known for its beautiful lakes and inviting parks.
15. Canmore, Alberta
- Population: 15,990
- Average income: $38,829
- Average house price: $1,600,000
- Average rent: $1,922/month for a two-bedroom apartment
Canmore is a popular retirement destination in the Rocky Mountains when price is no object, if it gets them living among one of North America's most famous mountain ranges. It’s known for its striking landscapes, active retirement community and outdoor recreation opportunities.
16. Victoria, British Columbia
- Population: 96,390
- Average income: $54,007
- Average rent: $2,818/month for a two-bedroom apartment
- Average house price: $967,122
Possibly the most desirable retirement destination in Canada due to its scenic landscape, outdoor activities and year-long mild weather, Victoria is a welcoming city for retirees.
FAQs
Where is the best place in Canada to retire?
There is no one-place-fits-all answer when it comes to the best place in Canada to retire. That’s because everyone has different priorities as to what they are looking for in an ideal retirement destination. For that reason, it really comes down to what you’re most concerned about when choosing a place to retire.
Some people may prioritize affordability, while others may be more concerned with access to healthcare, recreational activities or cultural events. If you want jaw-dropping views and luxurious homes, Canmore, Alberta or Victoria, BC would be appealing options. If weather is a concern and you want to avoid wintery roads and sidewalks at all costs, then Kelowna or Penticton, BC are likely a good fit. If you’ll have to make due with a tight budget during retirement then places with affordable housing like Cape Breton, Nova Scotia or Saskatoon, Saskatchewan could be the right choice.
Where is the cheapest place to live in Canada for retirees?
Cape Breton, Nova Scotia, St. Johns, Newfoundland and Saskatoon, Saskatchewan are some of the best places to retire in Canada, income wise.
Is it a good idea to retire to Canada?
Canada is a popular destination for retirees because of its high standard of living, safety, stunning natural beauty and welcoming communities. However, the decision to retire in the country depends on your individual circumstances and priorities. If you do choose to retire in Canada, thanks to the country’s vast size and diverse landscapes, without a doubt you’ll have an incredible variety of places from which to choose.
Where is the warmest and cheapest place to live in Canada?
If you're looking for a warm and affordable place to live in Canada, you'll find that most of the options are in British Columbia, due to the province’s consistently milder weather. Of course, it's worth noting that warmer climates in the country are more popular, especially for retirees, and the price tag to live there reflects that. To get the most bang for your buck, Windsor is an attractive option with mild winters by Ontario standards and rents are far more modest.
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Sandra MacGregor has been writing about finance and travel for nearly a decade. Her work has appeared in a variety of publications like the New York Times, the UK Telegraph, the Washington Post, Forbes.com and the Toronto Star.
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