Community & Current Events
Top 15 Most Affordable Cities in Canada
Photography, @quebeccite, Instagram
Community & Current Events
Top 15 Most Affordable Cities in Canada
A recent survey by Royal LePage reveals that half of the residents in Canada’s largest urban centres are considering moving to more affordable areas.
High living costs, soaring home prices, and elevated interest rates are pushing 50% of Toronto, Montreal, and Vancouver residents to consider relocating, according to the report.
Here are the 15 most affordable cities in Canada:
- Thunder Bay
- Saint John
- Red Deer
- Trois-Rivières
- Regina
- Saskatoon
- Windsor
- Sherbrooke
- Moncton
- Sudbury
- St. John’s
- Charlottetown
- Quebec City
- Winnipeg
- Lethbridge
Key motivations include a lower cost of living (57%), proximity to nature (41%), and a more relaxed lifestyle (40%). This trend is particularly strong among renters (60%) compared to homeowners (45%).
Cities like Thunder Bay, Saint John, and Red Deer are among the most affordable, requiring only 22.2% to 28.9% of household income for mortgage payments. The flexibility provided by remote work is a significant factor, allowing many to pursue homeownership in more budget-friendly locations without the constraint of proximity to their workplaces.
Karen Yolevski, COO of Royal LePage Real Estate Services Ltd., emphasizes that many aspiring homeowners are considering these relocations to overcome the barriers of high-cost urban living and gain a foothold in the property market.
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