Canada’s Most Affordable Cities For Real Estate

Canada’s Most Affordable Cities For Real Estate – Canada isn’t known for its cheap real estate but the general standard of living is good and the country has avoided the worst crashes from the global crisis. It’s also a very attractive country in a lot of places but what cities are the most affordable? Are there any?

Canada’s Most Affordable Cities For Real Estate

Canada's Most Affordable Cities For Real Estate
Canada's Most Affordable Cities For Real Estate

I was recently in Montreal for a few months. Montreal is an awesome Canadian city but it does suffer from very high property prices, especially if you want to be close to downtown. Oddly rent there can be very affordable.

Homes are more affordable in other cities though so let’s take a look at a few sources and see where may be a good place to buy. Here are the ten most affordable Canadian cities according to this article from The house prices are said to be averages and the article was written October 2011.

  1. Trois Rivieres CMA – $161,559.
  2. Saguenay CMA – $164,705.
  3. Saint John’s – $169,290.
  4. Windsor – $172,400.
  5. Thunder Bay –  $183,224.
  6. Sherbrooke CMA – $208,506.
  7. Sudbury – $231,400.
  8. Gatineau CMA – $232,676.
  9. London and St. Thomas – $234,309.
  10. Winnipeg – $237,421.

Coldwell Banker wrote a report on cheap and expensive housing in North America and looked at select Canadian markets. They looked at four-bedroom, two full bathroom home prices  and their lowest prices can be seen below. The article in full can be seen here.

  • Alberta – Lethbridge – $248,082
  • British Columbia – Grand Forks – $269,812
  • Manitoba – Winnipeg – $307,464
  • Newfoundland – St. John’s – $440,825
  • Nova Scotia – Amherst – $194,700
  • Ontario – Windsor – $144,460
  • Prince Edward Island – Stratford – $279,845
  • Yukon Territory – Whitehorse – $405,465

MSN Canada also has a great article where they looked at what certain cities in Canada give you for under $350,000. The article can be read here. As an example they say in Vancouver (45 mins out of the city) you can pick up a little family home and in comparison in Moncton you can pick up a 2 storey 2,715 sq. ft home with a 100 sq ft lot.

Basically it is a lot cheaper to move far away from the major metropolitan areas and often the more small town and away from industry the cheaper. The problem there is of course jobs, with the increase of online jobs this may soon not be such a huge problem.

Canada’s Most Affordable Cities For Real Estate

Basically for a normal sized home you are not going to get much change out of $250,00 no matter where you go and many areas with such low prices may not be desirable. That doesn’t mean that some are not, they just may be more remote or in up and coming areas. So do you own a home in a Canadian City? If so, what city are you in, how much did it cost and do you think it was good value? Do you have any advice for people in the market for a new home and any good or bad about particular cities?

Thinking of living in the US? Check out our article on The Cheapest Places To Live In America.

Thanks for reading and I look forward to your comments.

2 thoughts on “Canada’s Most Affordable Cities For Real Estate”

  1. The problem is that with cheap real estate, it usually translates into poor job prospects. For example, the top 10 list, only the last three has non-double digit unemployment levels. As for Coldwell Banker’s report (that link points to an American study btw), I can’t comment on the Western provinces, but Amherst, Windsor, and Stratford reside in areas where jobs are very hard to come by, especially to afford a house.

    1. Hey Chris, absolutely agree. This post is quite old now and isn’t the best written so think it could do with an update as I missed on quite a few points.

      I work digitally so luckily I can live where I like but right now that’s not the norm so jobs and other local factors still take center stage.

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