If you are planning to relocate, it’s understandable given the rapid rise in living costs in major metropolitan cities, and you’re certainly not alone in this pursuit. Owning a home in cities like Toronto and Vancouver has become a privilege for millionaires, with the typical house price exceeding $1 million. Moving to more affordable cities means reducing living expenses and saving more money! Imagine living in an affordable city, and maintaining a high quality of life, while setting aside funds for your hobbies, travel, or a future dream home.
We created this list with different groups of people in mind, as everyone has unique lifestyle preferences. Surveys show that 60% of those considering relocation prioritize lower living costs, while 40% value a fresh and relaxed life in less populated areas, in addition to affordability. However, many Canadians prefer urban living combined with reasonable prices. Accordingly, this article highlights the cheapest cities catering to both urban and small-town preferences.
Best Cheapest Cities to Live and Buy a House in Canada
Winnipeg, Manitoba
- Population: 849,251 (2024)
- Average Rent: $1,509
- Average Income: $50,120
- Average House Price: $362,500
- Universities: University of Manitoba, University of Winnipeg
Montreal, Quebec
- Population: 4,342,000 (2024)
- Average Rent: $1,639
- Average Income: $50,120
- Average House Price: $508,300
- Universities: McGill University, Concordia University
Edmonton, Alberta
- Population: 1,568,000 (2024)
- Average Rent: $1,500
- Average Income: $56,800
- Average House Price: $440,089
- Universities: University of Alberta, Concordia University
Thunder Bay, Ontario
- Population: 109,407 (2024)
- Average Rent: $1,102
- Average Income: $50,684
- Average House Price: $381,358
- Universities: Lakehead University
Red Deer, Alberta
- Population: 110,423 (2024)
- Average Rent: $1,470
- Average Income: $55,250
- Average House Price: $357,625
- Universities: Red Deer Polytechnic Institute (No University Unfortunately)
Sherbrooke, Quebec
- Population: 181,435 (2024)
- Average Rent: $1,307
- Average Income: $46,880
- Average House Price: $305,000
- Universities: Université de Sherbrooke (French)
Regina, Saskatchewan
- Population: 253,185 (2024)
- Average Rent: $1,369
- Average Income: $56,700
- Average House Price: $288,437
- Universities: University of Regina
Moving to a different city is always an expensive and complex decision. You should take into account factors including, but not limited to, rent, living costs, education, job opportunities, transportation, and taxes. Therefore, we recommend conducting thorough research on all these aspects before making your final decision to relocate.