HomeMost affordable places to buy a home in Canada

Jamie QuadrosAugust 27, 201910 min


So you want to buy a home in Canada, but you’re not interested in paying an arm and a leg to live in Vancouver? We got you covered! Here’s our guide to the most affordable provinces and cities for real estate in Canada.

The average cost of a house in Canada was $505,463 as of June 2019. That’s an increase of 1.7% from June 2018.

The most expensive provinces to live in:

  1. British Columbia remains the most expensive province to live in, with an average price tag of $687,326 for a home.
  2. Ontario comes in second, with property going for $611,307 on average.
  3. Surprisingly, the Northwest Territories is Canada’s third-most expensive province to live in with an average home price of $478,410.

However, while both Ontario and the Northwest Territories prices increased by 6.6% and 4.6% respectively from 2018, British Columbia actually saw a decrease of 4%!

The least expensive provinces to live in:

  1. New Brunswick remains Canada’s most affordable province for real estate, with an average price of just $174,252.
  2. Prince Edward Island takes second place, with a property price tag of $241,195 on average.
  3. Newfoundland and Labrador is Canada’s third-most affordable province for real estate, with average prices of $251,858.

New Brunswick saw an increase of 1.3% in prices from 2018. Newfoundland and Labrador on the other hand has had prices remain effectively the same, while Prince Edward Island experienced a huge leap in prices with a 15.6% increase from the previous year!

The 10 most affordable places in Canada to own a home

Here are ten of the most affordable places in Canada to spend your hard-earned dollars on a new dream home:

  1. Saint John (NB) – $176,432 (decrease of 3.1%)
    #SaintAwesome has it all: an awesome tower, a geopark called Stonehammer, and a whirlpool. A WHIRLPOOL.
  2. Trois Rivières (QC) – $179,584 (increase of 12.6%)
    Beautiful city with an old-world charm, rich with music, poetry, and also a Grand Prix!
  3. Greater Moncton (NB) – $184,900 (increase of 1.3%)
    Get the best of the City of Moncton, the City of Dieppe, and the Town of Riverview!
    Also has nine 18-hole golf courses, because why not?
  4. Fredericton (NB) – $189,208 (decrease of 7.7%)
    Atlantic Canada’s craft brewing capital, and the city of biking, beer, and good times.
  5. Saguenay (QC) – $191,985 (decrease of 1.1%)
    Come for the pyramid, a pulp mill, and the gorgeous national parks. Stay for the cheese!
  6. Thunder Bay (ON) – $254,592 (increase of 2.1%)
    The heart of amethyst country in Ontario. Also has a historical fort and a sleeping giant.
  7. Sherbrooke (QC) – $262,360 (increase of 6.5%)
    If you like award-winning vineyards, Hussars, and wandering around prisons, this is the place for you!
  8. Lethbridge (AB) – $265,917 (decrease of 1.1%)
    Telling someone you’ll “take them to Fort Whoop-Up” can be a hilarious threat or treat, and that alone is a great reason to live in Lethbridge.
  9. Regina (SK) – $269,400 (decrease of 4.1%)
    Formerly known as “Pile-of-Bones”, the “Queen City” is also the home of the RCMP Training Academy and a castle!
  10. Sudbury (ON) – $283,614 (increase of 0.3%)
    The city of big money. No, literally—they have a giant nickel.

Note: all prices accurate as of June 2019, unless otherwise specified.

Sources:

https://www.crea.ca/housing-market-stats/national-price-map/
https://www.immigrationgreatermoncton.ca/welcome-greater-moncton
http://www.tourismfredericton.ca/en/blog/201905/biking-beers-good-times
https://www.tourismetroisrivieres.com/en/what-to-do/grand-prix-de-trois-rivieres
https://www.discoversaintjohn.com/10-great-things-see-do-saintawesome
https://www.saguenaylacsaintjean.ca/en/search?filtre=can-t-miss-experience
https://www.visitthunderbay.com/en/see-and-do/natural-wonders-and-scenic-views.aspx
https://www.destinationsherbrooke.com/en/visitors/what-to-do
https://fort.galtmuseum.com/history

Jamie Quadros

Freelance writer and communications professional at the University of Toronto. He’s an avid cinephile, voracious reader, and a terror at karaoke bars.

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