Wondering where are the cheapest places to live in Canada? We will go through the cheapest places in Canada and what makes them cheap.
With the rising cost of living such as groceries it is difficult to imagine that there are any cheap places to live in Canada. While it may be difficult to find affordable places to live in Canada, it is possible, it just depends on what you are looking for.
Canada is one of the best countries to live in the world. While Canada is one of the best countries to live in, it also has great disparity of income between different provinces. Average income in Canada, according to Stats Canada average after-tax income in Canada was $66,800 in 2020.
| Province | Median Income 2020 | Homeownership by population |
|---|---|---|
| Canada | $66,800 | 66.50% |
| Alberta | $77,700 | 70.90% |
| British Columbia | $67,500 | 66.80% |
| Manitoba | $63,000 | 67.40% |
| New Brunswick | $56,900 | 73.00% |
| Newfoundland and Labrador | $59,300 | 75.70% |
| Nova Scotia | $57,500 | 66.80% |
| Ontario | $70,100 | 68.40% |
| Prince Edward Island | $59,400 | 68.80% |
| Quebec | $59,700 | 59.90% |
| Saskatchewan | $67,700 | 70.70% |
Homeownership
According to Stats Canada homeownership has declined from 69% in 2011 to 66.5% in 2021. While proportion of population has increased drastically by 21.5%. Looking at these statistics it is no wonder that people are looking to move to cheaper cities to make their incomes last, even if it means longer commutes or finding a new job at the new location.
Is it worth moving to a cheaper city?
The answer to this question is that it really depends on your situation. Let’s say you work in an industry that is limited to a specific part of the country and if you move somewhere else you will have difficulty finding employment that suits your skill set then it might not be a good idea to move. However, if you work in a field that is more common and jobs are available in they city you are planning to move to, then making the move might be an obvious choice.
Cheapest Places to Live in Canada
Prince Albert, Saskatchewan
Prince Albert is the third largest city in the province of Saskatchewan, with Saskatoon and Regina take the first and second spots respectively.
- Population: 37,756
- Median Household income: $40,400
- One bedroom apartment: $800/month
- Restaurant Meal (2 people): $68
- Milk: $2.89/litre (September, 2022)
Sherbrooke, Quebec
Sherbrooke is one of the cheapest places to live in Canada. It is located in Quebec and it is the 4th largest in the province and 19th in Canada.
- Population: 172,950
- Median Household income: $62,400
- One bedroom apartment: $700
- Restaurant Meal (2 people): $75
- Milk: $3.59/litre (September, 2022)
Regina, Saskatchewan
Regina is the capital city of the province of Saskatchewan. It is the second largest city in the province and 24th largest in Canada.
- Population: 215,106
- Median Household income: $81,832
- One bedroom apartment: $900
- Restaurant Meal (2 people): $80
- Milk: $2.89/litre (September, 2022)
Trois-Rivières, Quebec
Trois-Rivières is a city in the province of Quebec.
- Population: 134,413
- Median Household income: $45,000
- One bedroom apartment: $600
- Restaurant Meal (2 people): $85
- Milk: $3.59/litre (September, 2022)
Saint John, New Brunswick
Saint John is the second largest city of the province of New Brunswick.
- Population: 69,895
- Median Household income: $80,000
- One bedroom apartment: $950
- Restaurant Meal (2 people): $95
- Milk: $2.43/litre (September, 2022)
Quebec City, Quebec
Quebec City is the capital of the province of Quebec. It is the 11th largest city in Canada. Rent in Quebec City compared to Toronto are 58% lower.
- Population: 6549,459
- Median Household income: $60,000
- One bedroom apartment: $930
- Restaurant Meal (2 people): $78
- Milk: $3.39/litre (September, 2022)
Lethbridge, Alberta
Lethbridge is a city in the province Alberta. Lethbridge’s economy is primarily based on retail, health, and education sector.
- Population: 98,406
- Median Household income: $75,000
- One bedroom apartment: $1,100
- Restaurant Meal (2 people): $78
- Milk: $2.89/litre (September, 2022)
Here is a quick recap of the price differences between the cities.
| City | Median Income | Open Bedroom Apartment/Month | Restaurant Meal (2 people) | Milk (1 Litre) |
|---|---|---|---|---|
| Prince Albert, AB | $40,400 | $800 | $68 | $2.89 |
| Sherbrooke, QC | $62,400 | $700 | $75 | $3.59 |
| Regina, SK | $81,832 | $900 | $80 | $2.89 |
| Trois-Rivières, QC | $45,000 | $600 | $85 | $3.59 |
| Saint John, NB | $80,000 | $950 | $95 | $2.43 |
| Quebec, City | $60,000 | $930 | $78 | $3.39 |
| Lethbridge, AB | $75,000 | $1,100 | $78 | $2.89 |
One of the takeaways from this comparison is that it all depends on an individual whether one city is cheaper than the other. Let’s compare Prince Albert with Saint John, milk in Prince Albert is around $2.89 while in Saint John it is $2.43, with higher median income in Saint John we could draw a conclusion that Saint John is cheaper. However, rent for one bedroom in Prince Albert is lower than Saint John so is eating out in a restaurant.
Comparing one city to another should be based on what matters to each individual. A city that seems cheaper for one person may not be the same for another.
Canada is a huge country with towns and cities scattered across the land. We have looked at only a handful of cheapest places to live in Canada. If you are moving then you really have to think hard about your priorities and whether a specific location meets your needs.
