Canada is known for its beautiful cities, but it can be expensive to live there. If you’re looking to move to Canada or immigrate soon, you may be wondering which cities offer the best value for money.
To help you, we reached out to real estate agents, Edmonton companies, home improvement experts, immigration officers and other professionals to create a list of the five most affordable cities to live in Canada in 2023. Here’s everything. you need to know.
Average National Prices in Canada: Cost Breakdown
Housing is the biggest expense you will face when moving to Canada. According to statistics, 38% of respondents defined affordable housing as a home you can afford and has all your basic needs. 18% said affordable housing means spending only 30 to 40% of your income on housing.
Here are some important numbers to remember about Canada’s costs in general:
National average monthly costs:
● Average salary in Canada (net): CAD 4,130.59
● Rent (center)
● 1-bedroom apartment: CAD 1,618.25 (39.17% of rent)
● 3-bedroom apartment: CAD 2,598.55 (62.9% of rent)
● Grocery bill
● Women aged 19 to 30: CAD 297
● Men aged 19 to 30: CAD 341
● Communication services: CAD 176
● Electricity bills: CAD 173.6
The average property price is CAD 626,000 and has seen a 12% drop in 2021. 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 accessible 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 main language being French rather than English.
Quebec’s unique culture sets it apart from the rest of Canada, with a focus on art, music and cuisine. 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 residents and immigrants alike 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. Plus, the province’s subsidized child care system and low electricity bills make it an ideal place to raise a family.
● The average rent for a 1-bedroom apartment is CAD 1,099, and the price for a single-family property is CAD 440,000.
● Subsidized daycare and the lowest electricity bill 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 dependent on the oil and gas industry, offering many job opportunities for residents and immigrants.
The province is also one of the most affordable in Canada, with no provincial sales taxes or provincial healthcare premiums and a GST rate of just 5%. Alberta has several cities known for affordable housing, such as Calgary and Edmonton.
● No provincial sales tax or local health premiums and a 5% GST rate.
● Large but accessible cities like Calgary and Edmonton.
● The average rent in these cities is around CAD 1,300, and a single detached house is around CAD 500,000.
● Smaller cities like Lloydminster offer even lower prices of 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 just one million people, which means there is less demand for services and fewer taxes are needed to supply the population.
Saskatchewan has a diverse economy driven by sectors 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 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 residential property price is CAD 284,334.
● Natural resources help keep energy costs lower.
Manitoba
Manitoba is a province in central Canada known for its strong and diverse economy. Manitoba has several industries, including manufacturing, aerospace and agriculture, offering many job opportunities for residents and immigrants.
The government provides regular aid, such as the Family Affordability Package, to families in the province. Winnipeg, Manitoba’s largest city, has an average rent lower than the national average of CAD 1,373. Manitoba’s abundant, affordable housing and job opportunities make it an ideal province for those settling in Canada.
● The real estate market is competitive at 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 assistance, 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 the capital of Alberta and has an excellent public transportation system, top-notch educational facilities, and a variety of outdoor activities. Edmonton is home to some of Canada’s largest shopping malls, making it a shoppers’ paradise.
The city is also famous for its lively festivals, such as the Edmonton Folk Music Festival, the International Street Performers Festival and the Heritage Festival.
● The average price of a 3-bedroom house is CAD 408,961.
● Employment opportunities in the oil and gas industry, large corporations, and booming retail and technology 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 cultural 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 saw a price drop of 19.8% in 2021.
● Job opportunities in the industrial sector, with an average unemployment rate of 4.7%.
● Growing population and a rapidly 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 those 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 with a focus on technology and innovation.
● The average property price is CAD 351,866.
● Lower cost of living and stable property prices due to sufficient and abundant housing.
● A strong and diversified 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 cultural scene, with several festivals and events throughout the year.
Halifax is home to several universities, making it a center for education and research. The city’s beautiful waterfront and panoramic views make it a popular tourist destination. Halifax’s economy is diverse, with a strong focus on the service and technology sectors.
● The average house price is CAD 480,600.
● Average salary (net): CAD 4,041.39
● Rent (in the city center)
● 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 transport: CAD $82.50
● Unemployment rate: 5.4%
5. Sherbrooke, Quebec
Sherbrooke is a charming city located in the eastern municipalities 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 cultural scene, with several festivals and events taking place annually. Sherbrooke is also surrounded by natural beauty, with several parks and lakes nearby.
● The average property price is CAD 412,777.
● Second most accessible city in Canada, according to the Slice Magazine ranking in 2021.
● Lower cost of living than Montreal, with 30% lower expenses.
● Many summer festivals and opportunities for young people at the city’s universities and startups.
Concluding
Despite the unstable year the market has experienced in 2022, Canada’s economy allows ordinary citizens to live comfortably in its large cities. The cities listed provide average costs for rent, utility bills, grocery and transportation.
Edmonton stands out more, with a slightly higher price but a balanced cost-experience ratio. Ultimately, the best city for you will depend on your specific lifestyle.
We hope this guide helps you decide which city is right for you.
