Last Updated on January 4, 2025
Canada, with its vast landscapes and diverse cultures, is a dream destination for many. However, the rising cost of living in major cities like Toronto, Vancouver, and Montreal has made it challenging for many to settle down.
In this article, we explore the top 10 most affordable places to live in Canada in 2025, considering not only housing costs but also lifestyle, job opportunities, and community amenities. Whether you’re a young professional, a family, or someone looking to retire, these cities offer a great balance of affordability and quality of life.
What Makes a Place in Canada Affordable?
Home and Rental Prices: The cost of buying or renting a home is one of the primary factors that determine the affordability of a place. Lower home prices and rental rates make it easier for residents to find housing within their budget.
Percentage of Income Needed to Pay Mortgage or Rent: This metric helps assess how much of an individual’s income is spent on housing. A lower percentage indicates greater affordability, as residents have more disposable income for other expenses.
Everyday Expenses: Affordable living also depends on the cost of everyday necessities such as groceries, transportation, utilities, and healthcare. Lower costs in these areas contribute to the overall affordability of a place.
Lifestyle Factors and Quality of Life: The quality of life in a city, including access to recreational activities, cultural amenities, and public services, plays a crucial role in determining affordability. A higher quality of life at a lower cost is ideal.
Job Opportunities: A diverse and robust job market with ample employment opportunities in various industries is essential for affordability. Higher employment rates and competitive wages contribute to residents’ financial stability.
Taxes: The tax burden on residents, including income tax, property tax, and sales tax, can significantly impact the overall cost of living. Lower taxes contribute to a more affordable lifestyle.
Closing and Moving Costs: The costs associated with buying or renting a home, such as closing fees, moving expenses, and security deposits, can add up. Lower costs in these areas make relocating more affordable.
Invisible Costs: These are costs that may not be immediately apparent, such as insurance premiums, maintenance fees, and other recurring expenses. Managing these costs effectively contributes to the overall affordability of living in a place.
10 Most Affordable Places to Live in Canada
When evaluating the most affordable places to live in Canada, we took into account a variety of essential factors beyond just housing costs. Our criteria include average rent and home prices, the percentage of income needed to cover housing expenses, the overall cost of living, job opportunities, and other crucial lifestyle elements such as climate and community amenities.
1. Thunder Bay, Ontario – Cheapest Overall
Thunder Bay is a city that combines natural beauty with urban amenities, making it a desirable place to live. Located on the shores of Lake Superior, it offers residents a breathtaking landscape, including stunning lake views, lush forests, and a variety of outdoor recreational activities. The city is known for its affordability, especially when compared to other major cities in Ontario.
Thunder Bay Key Information
| Province | Region | Ontario | Central Canada |
| Population | 108,843 (2021) |
| Land Area | 328.24 sq km |
| Minimum Rate | CAD15.50 per hour (as of October 2022) |
| Average Rent | CAD 1,237 |
| Average House Price | CAD 375,539 |
| Average Household Income | CAD 96,100 |
| Average Cost of Living | 1% higher than the national average, but 3% lower compared to Ontario overall. |
| Average Temperature | -8 °C to 25 °C and is rarely below -17 °C or above 30 °C |
| Time Zone | GMT -5 |
| Website | www.thunderbay.ca |
Housing and Cost of Living
The housing market in Thunder Bay is quite favorable, with a wide range of options available. Whether you’re looking for a quaint apartment or a spacious family home, you’ll find affordable choices that won’t break the bank. The average home price in Thunder Bay is significantly lower than in Toronto, making it an attractive option for those looking to purchase property. Rental prices are also reasonable, with many affordable options for those who prefer to rent. Utilities, groceries, and transportation costs are generally lower than the national average, contributing to the overall affordability of living in Thunder Bay.
Education and Employment
Thunder Bay is home to several reputable educational institutions, including Lakehead University and Confederation College. These institutions offer a variety of programs and courses, attracting students from across Canada and beyond. The city also has a strong job market, with opportunities in healthcare, education, manufacturing, and the service industry. The Port of Thunder Bay serves as a key transportation hub, supporting various industries and providing employment opportunities. Additionally, the city’s strategic location on major transportation routes makes it an important center for trade and logistics.
Lifestyle and Recreation
Residents of Thunder Bay enjoy a high quality of life, with plenty of recreational opportunities available. The city’s beautiful natural surroundings provide ample opportunities for outdoor activities such as hiking, skiing, fishing, and boating. Thunder Bay is home to several parks and conservation areas, including Sleeping Giant Provincial Park, which offers stunning vistas and a variety of trails for outdoor enthusiasts. The city also boasts a vibrant arts and culture scene, with numerous galleries, theaters, and museums showcasing local talent and history. Throughout the year, Thunder Bay hosts various festivals and events, bringing the community together and celebrating the city’s rich cultural heritage.
2. Saint John, New Brunswick
Saint John, the oldest incorporated city in Canada, is located on the Bay of Fundy. Known for its stunning waterfront views, rich history, and affordable cost of living, Saint John is an attractive option for those looking to enjoy a high quality of life without the high costs associated with larger urban centers.
Saint John Key Information
| Province | Region | New Brunswick | Atlantic Region |
| Population | 69,895 (2021) |
| Land Area | 315.59 sq km |
| Minimum Rate | CAD13.75 per hour (as of October 1, 2022) |
| Average Rent | CAD 1,177 |
| Average House Price | CAD 309,500 |
| Average Household Income | CAD 96,100 |
| Average Cost of Living | 5% higher than the provincial average, but 5% lower than the national average. |
| Average Temperature | -11 °C to 22 °C and is rarely below -21 °C or above 26 °C |
| Time Zone | GMT -4 |
| Website | https://saintjohn.ca/en |
Housing and Cost of Living
The housing market in Saint John is highly accessible, with a variety of options available to suit different budgets and preferences. From charming historic homes to modern apartments, there is something for everyone. The average home price in Saint John is significantly lower than in major Canadian cities, making it an attractive option for first-time homebuyers and those looking to invest in real estate. Rental prices are also affordable, with many options available for those who prefer to rent. Everyday expenses such as groceries, transportation, and healthcare are generally lower than the national average, contributing to the overall affordability of living in Saint John.
Education and Employment
Saint John is home to several educational institutions, including the University of New Brunswick’s Saint John campus and the New Brunswick Community College. These institutions offer a range of programs and courses, attracting students from across the region. The city’s economy is diverse, with key industries including manufacturing, healthcare, education, and tourism. Saint John’s port plays a crucial role in the local economy, supporting various industries and providing employment opportunities. The city’s growing information technology sector also offers numerous job opportunities for professionals in the field.
Lifestyle and Recreation
Saint John offers a variety of recreational activities for residents to enjoy. The city’s beautiful parks, trails, and waterfront areas provide ample opportunities for outdoor activities such as hiking, biking, and kayaking. The Irving Nature Park, located on the city’s western edge, offers scenic trails and stunning views of the Bay of Fundy. The Reversing Falls, a unique natural phenomenon where the Saint John River meets the Bay of Fundy, is a popular attraction for both locals and tourists. Saint John also has a vibrant arts scene, with galleries, music venues, and theaters offering a rich cultural experience. The city’s historic uptown district is home to a variety of shops, restaurants, and cafes, providing plenty of options for dining and entertainment.
3. Red Deer, Alberta
Red Deer is a dynamic city located midway between Calgary and Edmonton. Known for its strong job market, affordable housing, and high quality of life, Red Deer is an attractive option for individuals and families looking to settle down in a vibrant community.
Red Deer City Key Information
| Province | Region | Alberta | Prairie Provinces |
| Population | 109,234 (2021) |
| Land Area | 104.34 sq km |
| Minimum Rate | CAD15.00 per hour (as of 2022) |
| Average Rent | CAD 1,619 |
| Average House Price | CAD 409,900 |
| Average Household Income | CAD 123,500 |
| Average Cost of Living | 7% higher than the national average, and 4% higher compared to provincial averages. |
| Average Temperature | -11 °C to 24 °C and is rarely below -25 °C or above 30 °C |
| Time Zone | GMT -7 |
| Website | https://reddeer.ca |
Housing and Cost of Living
The housing market in Red Deer offers a variety of options, from modern apartments to spacious family homes. The average home price in Red Deer is lower than in Calgary and Edmonton, making it an affordable option for those looking to purchase property. Rental prices are also reasonable, with many affordable options available for those who prefer to rent. The overall cost of living in Red Deer is lower than in larger urban centers, with everyday expenses such as groceries, transportation, and healthcare being more affordable.
Education and Employment
Red Deer is home to Red Deer Polytechnic, which offers a wide range of programs and courses, attracting students from across the province and beyond. The city’s economy is diverse, with key industries including agriculture, oil and gas, manufacturing, and healthcare. The strong job market provides numerous opportunities for professionals in various fields. Red Deer’s strategic location on major transportation routes also makes it an important center for trade and logistics, supporting various industries and providing employment opportunities.
Lifestyle and Recreation
Residents of Red Deer enjoy a high quality of life, with plenty of recreational activities available. The city boasts an extensive network of parks and trails, providing ample opportunities for outdoor activities such as walking, running, and cycling. The Waskasoo Park system, which includes several interconnected parks and green spaces, is a popular destination for outdoor enthusiasts. Red Deer also has a vibrant arts and culture scene, with theaters, galleries, and museums showcasing local talent and history. Throughout the year, the city hosts various festivals and events, bringing the community together and celebrating Red Deer’s rich cultural heritage.
4. Trois-Rivières, Québec
Trois-Rivières is a historic city located at the confluence of the Saint Lawrence and Saint-Maurice rivers. With its beautiful architecture, rich history, and affordable living costs, Trois-Rivières is a desirable place to live for those looking to enjoy the best of both urban and natural settings.
Trois-Rivières Key Information
| Province | Region | Quebec | Central Canada |
| Population | 139,163 (2021) |
| Land Area | 482 sq km |
| Minimum Rate | CAD 14.25 per hour (as of May 1, 2022) |
| Average Rent | CAD 1,389 |
| Average House Price | CAD 448,662 |
| Average Household Income | CAD 79,000 |
| Average Cost of Living | 5% lower than the national average, but 1% higher compared to the Quebec provincial average. |
| Average Temperature | -13 °C to 26 °C and is rarely below -23 °C or above 30 °C |
| Time Zone | GMT -5 |
| Website | https://www.v3r.net/ |
Housing and Cost of Living
The housing market in Trois-Rivières is quite affordable, with a range of options available to suit different budgets and preferences. From charming historic homes to modern apartments, there is something for everyone. The average home price in Trois-Rivières is lower than in larger Quebec cities, making it an attractive option for first-time homebuyers and those looking to invest in real estate. Rental prices are also reasonable, with many affordable options for those who prefer to rent. Everyday expenses such as groceries, transportation, and healthcare are generally lower than the provincial average, contributing to the overall affordability of living in Trois-Rivières.
Education and Employment
Trois-Rivières is home to Université du Québec à Trois-Rivières, which offers a wide range of programs and courses, attracting students from across the province and beyond. The city’s economy is diverse, with key industries including manufacturing, healthcare, education, and tourism. The presence of major employers provides a stable job market and numerous employment opportunities. Trois-Rivières’ strategic location on major transportation routes also makes it an important center for trade and logistics, supporting various industries and providing employment opportunities.
Lifestyle and Recreation
Residents of Trois-Rivières enjoy a high quality of life, with plenty of recreational activities available. The city’s parks, rivers, and green spaces provide ample opportunities for outdoor activities such as hiking, cycling, and boating. Parc de l’Île-Saint-Quentin, located on an island in the Saint-Maurice River, is a popular destination for outdoor enthusiasts, offering scenic trails, picnic areas, and a beach. Trois-Rivières also has a vibrant arts and culture scene, with museums, galleries, and theaters showcasing local talent and history. Throughout the year, the city hosts various festivals and events, celebrating its rich cultural heritage and bringing the community together.
5. Edmonton, Alberta
Edmonton, the capital city of Alberta, is known for its affordable housing, vibrant community, and strong economy. With its diverse cultural scene, excellent educational institutions, and numerous recreational opportunities, Edmonton is a top choice for many.
Edmonton Key Information
| Province | Region | Alberta | Prairie Provinces |
| Population | 1.1 Million (2021) |
| Land Area | 765.61 sq km |
| Minimum Rate | CAD15.00 per hour (as of 2022) |
| Average Rent | CAD 1,524 |
| Average House Price | CAD 407,458 |
| Average Household Income | CAD 116,800 |
| Average Cost of Living | 7% higher than the national average and 4% higher than the Alberta provincial average. |
| Average Temperature | -14 °C to 24 °C and is rarely below -27 °C or above 29 °C |
| Time Zone | GMT -7 |
| Website | https://www.edmonton.ca/ |
Housing and Cost of Living
Edmonton offers a wide range of housing options at affordable prices. From apartments to single-family homes, there is something for every budget. The average home price in Edmonton is lower than in other major Canadian cities, making it an attractive option for those looking to purchase property. Rental prices are also reasonable, with many affordable options available for those who prefer to rent. The overall cost of living in Edmonton is lower than in other major Canadian cities, making it an attractive option for families and young professionals. Everyday expenses such as groceries, transportation, and healthcare are also more affordable.
Education and Employment
Edmonton is home to several reputable educational institutions, including the University of Alberta and MacEwan University. These institutions offer a wide range of programs and courses, attracting students from across the country and beyond. The city’s economy is strong and diverse, with key industries including oil and gas, healthcare, education, and technology. The presence of major employers and a growing job market make Edmonton an appealing place to live and work.
Lifestyle and Recreation
Edmonton offers a plethora of recreational activities for residents to enjoy. The city boasts an extensive network of parks and trails, providing ample opportunities for outdoor activities such as walking, running, and cycling. The North Saskatchewan River Valley, the largest urban park in Canada, offers residents a scenic retreat with numerous trails, parks, and picnic areas. Edmonton is also known for its vibrant arts and culture scene, with theaters, galleries, and music venues showcasing local talent and international acts. The city hosts several festivals throughout the year, including the Edmonton International Fringe Theatre Festival, the Edmonton Folk Music Festival, and the Silver Skate Festival. Additionally, Edmonton is home to the famous West Edmonton Mall, the largest mall in North America, which offers a wide range of shopping, dining, and entertainment options.
Looking for more than just affordability? Explore our list of the Top 10 Best Places to Live in Canada. If you have money and can afford the best one, these locations offer unparalleled quality of life, vibrant communities, and excellent amenities. Discover the perfect place to call home!
6. Regina, Saskatchewan
Regina, the capital city of Saskatchewan, is known for its affordable cost of living, friendly community, and diverse economy. With its excellent educational institutions, numerous recreational opportunities, and vibrant arts scene, Regina is an excellent place to call home.
Regina Key Information
| Province | Region | Saskatachewan | Prairie Provinces |
| Population | 226,404 (2021) |
| Land Area | 178.81 sq km |
| Minimum Rate | CAD13.00 per hour (as of October 1, 2022) |
| Average Rent | CAD 1,408 |
| Average House Price | CAD 451,400 |
| Average Household Income | CAD 109,700 |
| Average Cost of Living | 3% higher than the national average and 2% higher than the Saskatchewan provincial average. |
| Average Temperature | -19 °C to 26 °C and is rarely below -33 °C or above 31 °C |
| Time Zone | GMT -6 |
| Website | https://regina.ca |
Housing and Cost of Living
Regina offers a variety of housing options at affordable prices. The average home price in Regina is lower than in many other Canadian cities, making it an attractive option for first-time homebuyers and those looking to invest in real estate. Rental prices are also reasonable, with many affordable options available for those who prefer to rent. The overall cost of living in Regina is lower than the national average, with everyday expenses such as groceries, transportation, and healthcare being more affordable.
Education and Employment
Regina is home to the University of Regina and several other educational institutions, providing a wide range of opportunities for students. The city’s economy is diverse, with key industries including agriculture, manufacturing, healthcare, and education. The presence of major employers, such as the provincial government and the University of Regina, provides a stable job market and numerous employment opportunities. Regina’s strategic location on major transportation routes also makes it an important center for trade and logistics, supporting various industries and providing employment opportunities.
Lifestyle and Recreation
Residents of Regina enjoy a high quality of life, with plenty of recreational activities available. The city’s parks, trails, and green spaces provide ample opportunities for outdoor activities such as hiking, biking, and kayaking. Wascana Centre, a large urban park located in the heart of Regina, offers scenic trails, picnic areas, and recreational facilities. The park is also home to several cultural attractions, including the Royal Saskatchewan Museum and the Saskatchewan Science Centre. Regina has a vibrant arts and culture scene, with galleries, music venues, and theaters showcasing local talent and international acts. The city hosts several festivals throughout the year, including the Regina Folk Festival, the Mosaic Multicultural Festival, and the Queen City Ex. Additionally, Regina’s historic downtown area offers a variety of shops, restaurants, and cafes, providing plenty of options for dining and entertainment.
7. St. John’s, Newfoundland and Labrador
St. John’s, the capital city of Newfoundland and Labrador, is known for its affordable housing, unique cultural experience, and stunning coastal landscapes. With its friendly community, vibrant arts scene, and numerous recreational opportunities, St. John’s is an appealing choice for those looking for an affordable and enriching place to live.
St. John’s Key Information
| Province | Region | Newfoundland and Labrador | Atlantic Region |
| Population | 110,525 (2021) |
| Land Area | 446.02 sq km |
| Minimum Rate | CAD 14.25 per hour (as of May 1, 2022) |
| Average Rent | CAD 1,063 |
| Average House Price | CAD 364,400 |
| Average Household Income | CAD 107,000 |
| Average Cost of Living | 4% higher than the national average and 6% higher than the provincial average. |
| Average Temperature | -13 °C to 26 °C and is rarely below -23 °C or above 30 °C |
| Time Zone | GMT -5 |
| Website | https://stjohns.ca |
Housing and Cost of Living
The housing market in St. John’s is quite affordable, with a range of options available to suit different budgets and preferences. From charming historic homes to modern apartments, there is something for everyone. The average home price in St. John’s is lower than in many other Canadian cities, making it an attractive option for first-time homebuyers and those looking to invest in real estate. Rental prices are also reasonable, with many affordable options available for those who prefer to rent. The overall cost of living in St. John’s is lower than the national average, with everyday expenses such as groceries, transportation, and healthcare being more affordable.
Education and Employment
St. John’s is home to Memorial University of Newfoundland, providing a wide range of educational opportunities. The university offers a variety of programs and courses, attracting students from across Canada and beyond. The city’s economy is diverse, with key industries including fishing, tourism, healthcare, and education. The presence of major employers, such as the provincial government and Memorial University, provides a stable job market and numerous employment opportunities. St. John’s strategic location on the Atlantic coast also makes it an important center for trade and logistics, supporting various industries and providing employment opportunities.
Lifestyle and Recreation
Residents of St. John’s enjoy a high quality of life, with plenty of recreational activities available. The city’s beautiful parks, trails, and waterfront areas provide ample opportunities for outdoor activities such as hiking, biking, and kayaking. Signal Hill National Historic Site, located overlooking the city, offers stunning views of the Atlantic Ocean and scenic trails for outdoor enthusiasts. The East Coast Trail, a long-distance hiking trail that stretches along the coast of Newfoundland, is a popular destination for hikers and nature lovers. St. John’s also has a vibrant arts and culture scene, with galleries, music venues, and theaters showcasing local talent and international acts. The city hosts several festivals throughout the year, including the George Street Festival, the Newfoundland and Labrador Folk Festival, and the Royal St. John’s Regatta. Additionally, St. John’s historic downtown area offers a variety of shops, restaurants, and cafes, providing plenty of options for dining and entertainment.
8. Quebec City, Québec
Quebec City, the capital of the province of Quebec, is known for its rich history, beautiful architecture, and lower living costs. With its vibrant cultural scene, excellent educational institutions, and numerous recreational opportunities, Quebec City is a fantastic place to call home.
Quebec City Key Information
| Province | Region | Quebec | Central Canada |
| Population | 549,459 (2021) |
| Land Area | 485.77 sq km |
| Minimum Rate | CAD 14.25 per hour (as of May 1, 2022) |
| Average Rent | CAD 1,459 |
| Average House Price | CAD 550,200 |
| Average Household Income | CAD 93,800 |
| Average Cost of Living | is the same as the national average and 7% higher than the provincial average. |
| Average Temperature | -15 °C to 26 °C and is rarely below -24 °C or above 30 °C |
| Time Zone | GMT -5 |
| Website | https://www.ville.quebec.qc.ca/en/ |
Housing and Cost of Living
Quebec City offers a variety of housing options at affordable prices. The average home price in Quebec City is lower than in other major Canadian cities, making it an attractive option for first-time homebuyers and those looking to invest in real estate. Rental prices are also reasonable, with many affordable options available for those who prefer to rent. The overall cost of living in Quebec City is lower than in other major Canadian cities, making it an attractive option for families and young professionals. Everyday expenses such as groceries, transportation, and healthcare are also more affordable.
Education and Employment
Quebec City is home to several reputable educational institutions, including Laval University. The university offers a wide range of programs and courses, attracting students from across the country and beyond. The city’s economy is strong and diverse, with key industries including government, healthcare, education, and tourism. The presence of major employers, such as the provincial government and Laval University, provides a stable job market and numerous employment opportunities. Quebec City’s strategic location on the Saint Lawrence River also makes it an important center for trade and logistics, supporting various industries and providing employment opportunities.
Lifestyle and Recreation
Residents of Quebec City enjoy a high quality of life, with plenty of recreational activities available. The city’s parks, trails, and green spaces provide ample opportunities for outdoor activities such as walking, running, and cycling. The Plains of Abraham, a historic site and urban park, offers scenic trails and picnic areas, as well as cultural attractions such as the Musée national des beaux-arts du Québec. Quebec City is also known for its vibrant arts and culture scene, with theaters, galleries, and music venues showcasing local talent and international acts. The city hosts several festivals throughout the year, including the Quebec Winter Carnival, the Festival d’été de Québec, and the New France Festival. Additionally, Quebec City’s historic Old Quebec district, a UNESCO World Heritage site, offers a variety of shops, restaurants, and cafes, providing plenty of options for dining and entertainment.
9. Sherbrooke, Québec
Sherbrooke is a vibrant city located in the heart of the Eastern Townships region. Known for its affordable housing, beautiful surroundings, and strong educational institutions, Sherbrooke is a great option for those looking for a balanced and affordable lifestyle.
Sherbrooke Key Information
| Province | Region | Quebec | Central Canada |
| Population | 19,308 (2021) |
| Land Area | 367.10 sq km |
| Minimum Rate | CAD 14.25 per hour (as of May 1, 2022) |
| Average Rent | CAD 1,280 |
| Average House Price | CAD 515,155 |
| Average Household Income | CAD 83,800 |
| Average Cost of Living | 12% lower than the national average and 6% lower than the provincial average. |
| Average Temperature | -13 °C to 26 °C and is rarely below -23 °C or above 30 °C |
| Time Zone | GMT -5 |
| Website | www.sherbrooke.ca/en |
Housing and Cost of Living
The housing market in Sherbrooke is quite affordable, with a range of options available to suit different budgets and preferences. From charming historic homes to modern apartments, there is something for everyone. The average home price in Sherbrooke is lower than in larger Quebec cities, making it an attractive option for first-time homebuyers and those looking to invest in real estate. Rental prices are also reasonable, with many affordable options available for those who prefer to rent. The overall cost of living in Sherbrooke is lower than the provincial average, with everyday expenses such as groceries, transportation, and healthcare being more affordable.
Education and Employment
Sherbrooke is home to several reputable educational institutions, including the Université de Sherbrooke and Bishop’s University. These institutions offer a wide range of programs and courses, attracting students from across the province and beyond. The city’s economy is diverse, with key industries including healthcare, education, manufacturing, and technology. The presence of major employers provides a stable job market and numerous employment opportunities. Sherbrooke’s strategic location on major transportation routes also makes it an important center for trade and logistics, supporting various industries and providing employment opportunities.
Lifestyle and Recreation
Residents of Sherbrooke enjoy a high quality of life, with plenty of recreational activities available. The city’s parks, lakes, and green spaces provide ample opportunities for outdoor activities such as hiking, biking, and boating. Mont-Bellevue Park, located in the heart of the city, offers scenic trails, picnic areas, and recreational facilities. The park is also home to a ski hill, making it a popular destination for winter sports enthusiasts. Sherbrooke has a vibrant arts and culture scene, with museums, galleries, and theaters showcasing local talent and history. The city hosts several festivals and events throughout the year, including the Fête du Lac des Nations, the Sherblues & Folk Festival, and the Sherbrooke World Film Festival. Additionally, Sherbrooke’s downtown area offers a variety of shops. The vibrant downtown area of Sherbrooke offers a variety of shops, restaurants, and cafes, providing plenty of options for dining and entertainment. The Marche de la Gare, a popular market in the city, features local produce, artisanal goods, and food vendors, making it a great place to explore the local flavors and culture. Sherbrooke is also known for its numerous cultural events and festivals, which celebrate the city’s heritage and bring the community together.
10. Charlottetown, Prince Edward Island
Charlottetown, the capital city of Prince Edward Island, is known for its charming atmosphere, affordable living, and rich history. With its beautiful coastal landscapes, vibrant community, and numerous recreational opportunities, Charlottetown is a wonderful place to live.
Charlottetown Key Information
| Province | Region | Prince Edward Island | Atlantic Region |
| Population | 38,809 (2021) |
| Land Area | 44.27 sq km |
| Minimum Rate | CAD15.00 per hour (in effect on October 1, 2023) |
| Average Rent | CAD 1,325 |
| Average House Price | CAD 376,429 |
| Average Household Income | CAD 92,500 |
| Average Cost of Living | is 2% higher than the national average and 7% higher than the provincial average. |
| Average Temperature | -11 °C to 24 °C and is rarely below -19 °C or above 28 °C |
| Time Zone | GMT -4 |
| Website | https://www.charlottetown.ca/ |
Housing and Cost of Living
The housing market in Charlottetown is quite affordable, with a range of options available to suit different budgets and preferences. From historic homes in the downtown area to modern apartments, there is something for everyone. The average home price in Charlottetown is lower than in many other Canadian cities, making it an attractive option for first-time homebuyers and those looking to invest in real estate. Rental prices are also reasonable, with many affordable options available for those who prefer to rent. The overall cost of living in Charlottetown is lower than the national average, with everyday expenses such as groceries, transportation, and healthcare being more affordable.
Education and Employment
Charlottetown is home to the University of Prince Edward Island and several other educational institutions, providing a wide range of opportunities for students. The university offers a variety of programs and courses, attracting students from across Canada and beyond. The city’s economy is diverse, with key industries including healthcare, education, tourism, and agriculture. The presence of major employers, such as the provincial government and the University of Prince Edward Island, provides a stable job market and numerous employment opportunities. Charlottetown’s strategic location on the Atlantic coast also makes it an important center for trade and logistics, supporting various industries and providing employment opportunities.
Lifestyle and Recreation
Residents of Charlottetown enjoy a high quality of life, with plenty of recreational activities available. The city’s parks, trails, and waterfront areas provide ample opportunities for outdoor activities such as hiking, biking, and kayaking. Victoria Park, located along the waterfront, offers scenic trails, picnic areas, and recreational facilities. The park is also home to several cultural attractions, including the Prince Edward Island Regiment Museum and the Beaconsfield Historic House. Charlottetown has a vibrant arts and culture scene, with galleries, music venues, and theaters showcasing local talent and international acts. The Confederation Centre of the Arts, located in the heart of downtown, is a hub for cultural activities, offering performances, exhibitions, and educational programs. The city hosts several festivals and events throughout the year, including the Charlottetown Festival, the Prince Edward Island International Shellfish Festival, and the Christmas in the City event. Additionally, Charlottetown’s historic downtown area offers a variety of shops, restaurants, and cafes, providing plenty of options for dining and entertainment.
More FAQs
In addition to the information above, the most commonly asked questions on the topic of cheapest places to live in Canada are found below.
Conclusion
Finding an affordable place to live in Canada in 2025 involves considering more than just housing prices. The overall quality of life, job opportunities, community amenities, and lifestyle preferences all play crucial roles in making the right choice. From the charming cities of Quebec to the coastal gems of the Maritime Provinces, each of these ten cities offers a unique blend of affordability and quality living. By exploring these affordable cities, you can find a place that not only fits your budget but also enhances your life.
Statistics and Information Sources:
- Fairstone website
- Link: https://www.fairstone.ca/en/learn/finance-101/top-10-most-affordable-places-live-canada-2025
