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Ten Most Affordable Cities in Canada

25 October 2011

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We’ve already talked in-depth about how expensive it can be to live in some of Canada’s cities, especially places like Vancouver. But what about people looking for an affordable Canada mortgage? Where can these people go to still get affordable rates, but also lower home prices? Canada is a beautiful country, and one with lots of options! If you’re looking to move, or are just wondering if your city falls into the list, here are the 10 most affordable cities in Canada, as reported by the Canadian Real Estate Association.
10.) Winnipeg
Winnipeg has had a lot to celebrate lately, with the return of the Jets and the fact that their average home price sits somewhere around $237,421.
9.) London and St. Thomas
One of the most beautiful regions in Ontario, London and St. Thomas enjoy home prices that sit in the neighbourhood of $234,309.
8.) Gatineau CMA
In the heart of Canada’s capital region, this area is a stone’s throw from the Parliament Buildings, the Rideau Canal, Hull, and the rest of the province of Quebec. Being one of the cheaper regions of Ottawa, average home prices in Gatineau are around $232,676.
7.) Sudbury
Being the largest city in Northern Ontario has not stopped Sudbury from also having some of the lowest home prices, with the average being $231,400.
6.) Sherbrooke CMA
Stepping into the sixth largest city in all of Quebec, you might also expect to find some pretty high prices. But, this mainly French-speaking city has some of the most affordable Canada mortgages, with an average of $208,506.
5.) Thunder Bay
Travel along Highway 17 or Highway 11 until the very westernmost part of Ontario, and you come to the jewel that is Thunder Bay. This city boasts many things, including excellent university facilities and some of the greatest scenery Canada has to offer, along with many trails and parks to take it all in. In addition to all of that, Thunder Bay is one of the cheapest places to live in Canada, with the average home costing only $183,224.
4.) Windsor
Another city located in western Ontario, Windsor sits in the very south of the province and sits along the Detroit River. Not surprisingly, Detroit can be seen from the city and is easily traveled to by way of bridge. Home prices in Windsor sit way south too, with the average home costing only $172,400.
3.) Saint John’s
Saint John’s is often referred to as the “Oldest City in North America,” and for good reason – it is! Today it’s known for its somewhat harsh winters, temperate summers, and gorgeous coastline that’s beautiful any time of year. Another thing that’s beautiful any time of year are the home prices in Saint John’s – averaging around $169,290.
2.) Saguenay CMA
Another city in Quebec that falls into the category of Canada’s most affordable places to get a mortgage, is Sagueanay – although this one is a bit farther north than Sherbrooke. And though it may sit a bit higher geographically, housing prices in Saguenay are much lower than its southern counterpart – costing an average of $164,705.
1.) Trois Rivieres CMA
It’s yet another Quebec city that sits proudly at the top of the list for being Canada’s most affordable place to live! Trois Rivieres is a city just outside of Montreal, and here you can find the very cheapest home prices, with the average being around $161,559.

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