Various international rankings often give Canada often gets top marks as one of the best places to live in the world, due to our high quality of living, universal healthcare, incredible and varied landscapes, as well as our strong social systems. Yet living in Canada is not without its challenges, and one of the most pressing issues in recent years is the increasing difficulty in finding affordable housing.
Here, we showcase the cheapest provinces to live in from most affordable to least based on cost of living, average rent prices and other official statistics.
To determine what is the cheapest province to live in Canada, our analysis considered several key factors:
Data was sourced from various reports and governmental websites like Statistica, Stats Can and Ziprecuiter (and several others) to ensure a comprehensive overview. When determining affordability, the heaviest weight was given to the cost of buying a home.
Newfoundland and Labrador offers affordable housing, low taxes and a relaxed lifestyle with friendly people and beautiful landscapes . There is also ample ipportunities for unique outdoor activities like whale watching and iceberg viewing.
Known for its coastal beauty and stunning national parks, New Brunswick offers affordable living with low housing costs and a welcoming community.
Renowned for its prairies and natural beauty, the province of Saskatchewan has a low cost of living with a booming job market.
Manitoba provides a balance of urban and rural living with affordable housing and a strong economy.
Boasting scenic landscapes and small-town charm, PEI offers a peaceful lifestyle with reasonable living costs and a well-balanced housing market.
Nova Scotia provides coastal beauty and a vibrant arts scene, along with affordable living options, especially outside of Halifax.
Home to cities such as Calgary and Edmonton, Alberta offers economic opportunities, reasonable cost of living and incredible, singular landscapes like Drumheller and the Rocky Mountains.
Acclaimed for its unique culture and food scene, as well as its vibrant cities, Quebec offers a relatively low cost of living with rich cultural and historic experiences.
Ontario's blend of urban amenities and varied landscapes makes it an attractive option for those looking for a good job and a high standard of living. It’s also home to some of the country’s best museums, universities and attractions.
Although it boasts striking natural beauty, outdoor adventure opportunities, generally mild winters and high quality of life, the province of British Columbia is the most expensive to call home.
New Brunswick, Newfoundland and Labrador and Saskatchewan rank as the cheapest places to live in Canada. Each offers unique benefits, from stunning natural landscapes to vibrant urban centers, making them attractive options for those looking to balance affordability with quality of life.
At an average cost of living of just over $1,400 for one person including rent, Prince Edward Island has the lowest cost of living, which may make it seem like the most affordable province. However, despite having the lowest cost of living, it’s not the cheapest province in the country. It’s important to keep in mind that the cost of renting and purchasing a home, as well as average salary, are also important considerations when deciding what is the best and most affordable province to live in Canada.
The cheapest province to settle in Canada is Newfoundland and Labrador. This province, renowned for its beauty, laid-back lifestyle and friendly communities, is the most affordable province in the country thanks to an average rent of $1,050 for a two-bedroom apartment and an average house price of $293,573.
While Alberta once had the reputation as being one of the cheapest places to live in Canada, that has changed over the years as people, looking to take advantage of a strong job market and affordable housing, have moved to the province in large numbers. This influx has caused a shortage of housing and driven up costs, particularly in major cities such as Calgary and Edmonton.
The dubious reputation as the most expensive province to live in Canada goes to British Columbia. With a high monthly cost of living of over $2,200, a steep price of $2,769 for a two-bedroom rental and an average house price of nearly a million dollars, BC is the most expensive province in Canada.
2. Stats Can
This article Cheapest province to live in Canada originally appeared on Money.ca
This article provides information only and should not be construed as advice. It is provided without warranty of any kind.
2025-01-08T13:00:59Z