Last Updated on March 10, 2023 by Rodrigo @ OutofYourComfortZone

Canada is known for its beautiful cities, but it can be expensive to live there. If you are looking to move to Canada or immigrate soon, you might be wondering which cities offer the most value for your money. 

To help you out, we have contacted real estate agents, Edmonton door companies, home renovation experts, immigration officers, and other professionals to create a list of the top five most affordable cities to live in Canada in 2023. Here is everything you need to know.

 

 

The Average National Prices in Canada: Costs Breakdown

Housing is the biggest expense you will face when moving to Canada. According to statistics, 38% of those surveyed defined affordable housing as a house that you can pay for and has all your basic needs. 18% said affordable housing meant spending only 30 – 40% of their income on housing.

Here are some important numbers to keep in mind about Canada’s costs in general:

 

Monthly national average costs:

● Middle Salary in Canada (netto): CAD 4,130.59

● Rent (downtown)

● 1 Bedroom apartment: CAD 1,618.25 (39.17% of income)

● 3 Bedroom apartment: CAD 2,598.55 (62.9% of income)

● Grocery bill

● Women 19-30 years old: CAD 297

● Men 19-30 years old: CAD 341

● Communication services: CAD 176

● Electricity bills: CAD 173.6

 

The average property price is CAD 626,000, and it experienced a 12% fall in 2022. Canada has an average unemployment rate of 5% and 10.2% taxes, making it an expensive country to live in.

 

 

Briefly About the Most Affordable Provinces to Live in 2023

Analyzing larger areas and using criteria to find affordable cities can be efficient. Here are some of the most affordable provinces to consider:

 

Quebec

Quebec is a province in Eastern Canada and is the largest in terms of land area. It is a predominantly French-speaking province, with its primary language being French instead of English.

 

Quebec’s unique culture sets it apart from the rest of Canada, focusing on art, music, and gastronomy. The province has many iconic attractions, such as Old Quebec City, Montmorency Falls, and the Quebec Winter Carnival.

One of the main reasons Quebec is loved by both locals and immigrants is its affordability.

According to Ecoline Windows, Quebec is known for having some of the most affordable housing in Canada, with an average property price of CAD 440,000 for a single-family home. Additionally, the province’s subsidized childcare system and low electricity bills make it an ideal place to raise a family.

● The average 1-bedroom apartment rent is CAD 1,099, and the property price for a single-family is CAD 440,000.

● Subsidized child care system and the lowest electrical bills in the country.

● The tax rate at 14.97%.

 

Alberta

Alberta is a province in Western Canada that borders the United States. It is known for its picturesque landscapes, including the Canadian Rockies, a UNESCO World Heritage Site. Alberta has a diverse economy heavily reliant on the oil and gas industry, providing many job opportunities for locals and immigrants.

The province is also one of the most affordable in Canada, with no provincial sales taxes or provincial health premiums and a GST rate of only 5%. Alberta has several cities known for affordable housing, such as Calgary and Edmonton. 

● No provincial sales taxes nor local health premiums and a GST rate of 5%.

● Big yet affordable cities like Calgary and Edmonton.

● The average rent in those cities is around CAD 1,300, and a single detached home is around CAD 500,000.

● Smaller towns such as Lloydminster offer even lower prices at CAD 300,000.

 

Saskatchewan

Saskatchewan is a province in Western Canada known for its wide-open spaces and vast natural resources. The province has a small population of barely one million people, meaning there is less demand for services and fewer taxes are needed to provide for the population.

Saskatchewan has a diverse economy that is driven by industries such as agriculture, mining, and oil and gas.

Residents in Saskatchewan have free access to quality healthcare, and the area’s natural resources help keep energy costs low. The province also has several cities that are known for affordable housing, such as Regina and Saskatoon.

● The total tax rate is around 11%.

● Residents have free access to quality healthcare.

● The average home property price is CAD 284,334.

● Natural resources help keep lower energy costs.

 

Manitoba

Manitoba is a province in Central Canada that is known for its strong and diverse economy. Manitoba has several industries, including manufacturing, aerospace, and agriculture, providing many job opportunities for locals and immigrants.

The government provides regular aid, such as the Family Affordability Package, to families in the province. Winnipeg, the largest city in Manitoba, has an average rent lower than the national average at CAD 1,373. Manitoba’s abundant, affordable housing and job opportunities make it an ideal province for those settling in Canada.

● The competitive housing market of CAD 336,485 and has a tax rate of 12%.

● More construction starts than in the rest of the country, so the market is promising.

● Government aid, such as the Family Affordability Package, is available.

 

 

Top 5 Cities in Canada: Affordable Places to Consider in 2023

Here are the top five affordable cities to live in Canada in 2023:

 

   1. Edmonton, Alberta

Edmonton is known for its vibrant culture, natural beauty and growing job market. It is Alberta’s capital city and boasts an excellent public transportation system, top-notch education facilities, and a range of outdoor activities. Edmonton is home to some of Canada’s largest shopping malls, making it a paradise for shoppers.

The city is also famous for its lively festivals, such as the Edmonton Folk Music Festival, International Street Performers Festival and Heritage Festival.

● The average property price for a 3-bedroom house is CAD 408,961.

● Job opportunities in the oil and gas industry, large corporations, and blooming retail and tech industries.

● The average rent for a 1-bedroom apartment is CAD 1,234.83.

● Vibrant nightlife and rich culture for students and families.

● Grocery bill: CAD 280

● Communication services: CAD $175

● Electricity bills: CAD 167

● Transportation: CAD $100

 

   2. Regina, Saskatchewan

Regina is the capital of Saskatchewan and has a small-town feel with big-city amenities. It has a low cost of living, affordable housing, and a thriving arts and culture scene. Regina is also home to the Saskatchewan Roughriders football team, which has a loyal fan base.

 

The city is surrounded by vast prairies and is a great place for outdoor enthusiasts. Regina’s diverse economy has grown significantly in recent years, making it an attractive place to live and work.

● The average property price is CAD 284,062, which experienced a 19.8% price drop in 2022.

● Job opportunities in the industrial sector, with an average unemployment rate of 4.7%.

● Growing population and a fast-growing city.

● The average rent for a 1-bedroom apartment is CAD 1,017.71.

 

   3. Winnipeg, Manitoba

Winnipeg, the capital of Manitoba, is known for its friendly people, diverse culture, and thriving arts and music scene. It has a low cost of living and affordable housing, making it an excellent option for people looking to settle down.

Winnipeg has a thriving food scene, and its culinary offerings range from classic comfort food to global cuisines. The city also has a robust job market focusing on technology and innovation.

● The average property price is CAD 351,866.

● Lower living costs and stable property prices due to sufficient and abundant housing.

● A strong and diverse economy, with industries such as bus manufacturing and storage tanks for agriculture and oil and gas.

● The average rent in the province is CAD 1,373, which is at least CAD 300 below the national average.

 

   4. Halifax, Nova Scotia

Halifax, the capital of Nova Scotia, is a bustling city with a rich maritime history. It has a vibrant arts and culture scene, with various festivals and events throughout the year.

Halifax is home to several universities, making it a hub for education and research. The city’s beautiful waterfront and scenic views make it a popular tourist destination. Halifax’s economy is diverse, with a strong focus on the service and technology sectors.

● The median house price is CAD 480,600.

● Average Salary (netto): CAD 4,041,39

● Rent (in the city centre)

● 1 Bedroom apartment: CAD 1,659

● 3 Bedroom apartment: CAD 2,609

● Grocery bill: CAD 315 (per person)

● Communication services: CAD 180

● Electricity bills: CAD 150 

● Public Transportation: CAD $82.50

● Unemployment rate: 5.4%

 

   5. Sherbrooke, Quebec

Sherbrooke is a charming city located in the Eastern Townships of Quebec. It is home to several universities and colleges, making it a popular destination for students. Sherbrooke has a low cost of living and affordable housing, making it an excellent option for young professionals and families.

The city has a thriving arts and culture scene, with various festivals and events happening yearly. Sherbrooke is also surrounded by natural beauty, with several parks and lakes nearby.

● The average property price is CAD 412,777.

● Second most affordable city in Canada, according to Slice Magazine’s ranking in 2021.

● Lower living costs than Montreal, with expenses that are 30% less.

● Many summer festivals and opportunities for young adults in the city’s universities and startups.

 

 

Wrapping Up

Despite the shaky year the market experienced in 2022, Canada’s economy allows the average citizen to live comfortably in its great cities. The cities we listed offer the average rent, utility bills, grocery, and transportation costs.

Edmonton stands out the most, with a bit higher price but a balanced cost-experience ratio. Ultimately, the best city for you will depend on your particular lifestyle. We hope this guide helps you decide what city is right for you.

 

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