Given the state of the economy, we have nothing against you for seeking the most economical area to live in Canada. Finding the best spot to live in the least costly province can be difficult due to the price of living in every major town.
Numerous towns and cities can be found in Canada’s ten provinces, which make up the country’s vast territory. If you’re trying to save money, one option is to live in an area with a low cost of living. This allows you to use your financial resources further and create larger savings over time.
Our ranking of the 10 cheapest places to live in Canada is based on characteristics such as property affordability, employment market growth, rental market affordability, and cost of living.
1. 10 Cheapest Places to Live in Canada
The following is a list of the ten least expensive cities in Canada:
1.1 Prince George, British Columbia
The monthly rent for an average one-bedroom flat is $1070. A family-sized flat’s average monthly rent is $1514.
Although possessing only roughly 74,000 residents, among the largest and most renowned towns in northwestern British Columbia is Prince George’s. With an average monthly expense for living per person of $1100 and relatively low rent, Prince George is a good option for anyone looking for the most affordable towns in British Columbia.
For a period of time, the timber industry dominated the production industry. Nevertheless, the services, instructive, and medical industries currently account for the majority of the city’s economic activity. The city’s well-known cancer treatment center and magnificent natural setting, however, are among its biggest and best-known landmarks.
Consider visiting Prince George’s expansive fields and lakeshores if you like being outside, where you can take in the clean Canadian air and take in the stunning view.
Fun fact: Within an hour’s drive of Prince George, there are over 1,600 lakes and streams.
1.2 Surrey, British Columbia
The monthly rent for an average one-bedroom flat is $1488. The typical rental cost for a family-sized flat is $2840 per month.
It is predominantly an urban area, albeit having a sizable amount of agricultural and rural land. Despite having slightly greater rents than a few of the additional cities in this list, Surrey’s inhabitants make an average of $1200 per month.
Can you think that it’s not particularly bad?
Surrey has been one of the most rapidly expanding biggest towns in Canada and one of the least priced.
The most common industries in Surrey include development, schooling, science, housing, the hospitality industry food service, insurance, banking, and retail trade, making it quite simple to find a job.
The cost of necessities is lower, and rent is about 20% cheaper than in Canada’s main cities, even though it might not be the most economical city on our list. It is among Canada’s warmest regions and the warmest city on this list.
1.3 Winnipeg, Manitoba
The average monthly rent for a one-bedroom flat is $857. The typical rental for a family-sized flat is $1577 per month.
Despite the fact that Winnipeg is the largest and most costly town in Manitoba, it is still among the most affordable places to call home in the entire country. The cost of living in Manitoba’s provincial capital, Winnipeg, which has a population of roughly 750,534, is incredibly low around $1440 per month.
It is quite freezing in the winter because of the city’s prolonged snowfall, but it also gets extremely hot in the height of summer. no matter how much they favor sunny days or stunning white scenery, everyone may enjoy Winnipeg.
The major negative is Winnipeg’s high crime rate in comparison to other cities. But various sources show that this proportion has been dwindling over time.
1.4 London, Ontario
The average monthly rent for a one-bedroom flat is $975. The monthly rent for a family-sized flat is about $1380.
In London, newcomers can discover affordable housing, first-rate educational and healthcare alternatives, culture, and attractive parks. The major negative is Winnipeg’s high crime rate in comparison with comparable cities. Given that it is one of the more cheap cities in Ontario, London, Ontario, merited to be included on our list.
About 550,000 people live in the metro region, and the best part is that despite becoming a major metropolis, you can still experience a cozy, small-town vibe. With a median monthly price for necessities of about $1450, this city is an excellent choice for large Ontario metropolises.
IT and healthcare degrees are more prevalent in London’s sector and are a significant economic engine in the region.
1.5 Quebec City, Quebec
Rent for a one-bedroom flat or home is around $607 per month. A family-sized flat or house can be rented for an average of $1067 per month.
Quebec City, which serves as the administrative center of the Canadian province of Quebec, is one of the 15 largest and most affordable cities in Canada, with a predicted median housing cost of roughly $1500 per month.
The manufacturing of food, paper, primary metals, pharmaceuticals, and pharmaceutical items, in addition to refined fossil fuels including coal products, are among the biggest sectors in Quebec City’s production industry, which employs roughly 542,298 people.
Its historic European architecture and occasional vegetation combine to provide spectacular views, making it one of Canada’s most affordable cities. Additionally, it features a lot of fun festivals during both summer and winter on its social calendar, which makes the full year exciting.
The only negative aspect of both Quebec City, as well as the entire province of Quebec, is that they are largely Francophone. Consequently, it could be challenging to live outside of the city area as well as in the suburbs without having a solid command of French.
1.6 Saint John’s, Newfoundland and Labrador
The monthly rent for an average one-bedroom flat is $717. The typical rental cost for a family-sized flat is $925 per month.
Many of the country’s lowest rents are found in St. John’s. It serves as the provincial capital for the Newfoundland and Labrador territory, and as such has inhabitants of roughly 114,548 individuals with a projected cost of living of $1800 per month.
St. John’s flourished as a hub for dealing in fishing goods in Europe. Even though fisheries are still extremely important, the City serves as the principal service center for the province’s marine energy sector. Due to its reasonable housing and higher-than-average income, this area is ideal for anyone looking to relocate across Canada.
Additionally, acquiring a home in St. John’s is much easier than it is in other provinces. Considering these aspects and the somewhat higher standard of living, it shouldn’t be unexpected that St. John’s is one of the least costly towns in Canada.
You should undoubtedly consider yourself to be more of a winter fan to contemplate moving to this city. The severe winters and 20°C summer temperatures are typical.
1.7 Montréal, Quebec
Rent for a one-bedroom flat is around $702. A family’s typical monthly flat rent is $1112.
Montréal is one of the largest, most renowned, and most populated cities in Canada, with a total urban population of 4,291,732. Despite its notoriety, it is also Canada’s city with the lowest cost of living. It would cost roughly $1,800 per month to maintain a standard of living, which is significantly less than in many other Canadian cities.
Many Canadians consider Montréal to be the hub of French culture in the country. Additionally, compared with numerous other cities in North America, this one has a greater number of eateries per resident. It’s without a doubt one of the best spots to call residence in Canada whether you’re searching for an enjoyable night out with an assortment of pubs, bars, and restaurants.
Making things is Montréal’s traditional industrial backbone; it currently employs about one-fifth of the metro’s workforce. Additional industries in Montréal include those related to aerospace, electronic products, medicines, printed products, development of software, telecommuting, tobacco, taking trips, and transit.
1.8 Hamilton, Ontario
The typical monthly rent for a one-bedroom flat is $1000. The monthly rent for a family-sized flat is about $1850.
If the price of living within Toronto turns you off, Hamilton rates as one of the best cities in Ontario to call home. It features a diverse population, a growing food scene, affordable housing, and first-rate healthcare.
The majority of Hamilton’s sector is made up of advanced manufacturing, agriculture, and food processing, but it also includes fields like insurance, real estate, banking, IT, biological sciences, and tourism.
Despite being only 70 km by car from Toronto, Canada, the city offers reasonable rental rates and significantly cheaper living expenses—almost 40% lower than TO.
There are approximately 580 200 individuals living in Hamilton, and they spend $1850 per month on average. Despite what it may seem like, it is probably one of Canada’s less costly large towns, especially if you intend to visit nearby sights like the 6ix and Niagara Falls.
1.9 Edmonton, Alberta
A one-bedroom flat costs $881 roughly per month to rent. The typical rental cost for a family-sized flat is $1485 per month.
Edmonton ranks as one of Canada’s more affordable cities because, despite having the provincial seat of Alberta, rental rates there are fairer than in most other North American towns.
One of Edmonton’s greatest assets is the youth of its population, which makes it a terrific city for young people. Edmonton, a significant metropolis having about a million residents, is probably not quite as exciting as Toronto or Montreal.
When looking for an inexpensive area to call home in Canada, especially Alberta, Edmonton is worth taking into account given its typical income and growing economy. Due to Edmonton’s major industries, which include energy, manufacturing, sophisticated technology, banking, agriculture, and tourism, you won’t experience any trouble obtaining a job either.
Bear in mind, though, that Edmonton serves as the northernmost city in Canada, and its winters are bitterly cold.
1.10 Halifax, Nova Scotia
The monthly rent for an average one-bedroom flat is $865. The typical rental cost for a family-sized flat is $1455 per month.
Halifax is a key economic center in eastern Canada. It acts as the administrative center of Nova Scotia with a projected population of 431,479 and average monthly expenses of about $1900 for necessities. If you’re looking for the most inexpensive places to live in Canada, Halifax is an excellent alternative to the more expensive cities.
It’s wonderful that Halifax’s penalties, as well as creche and transportation expenses, are significantly cheaper than, say, Toronto’s. But once it comes to food shopping, matters are drastic. So, it seems likely that we’ll eat out.
It’s also important to keep in mind that Dalhousie University, one of the finest colleges in Canada, is located in Halifax. Halifax’s primary employment-generating sectors are forest products, mining, farming, and fishery.
2. Additional 2 More Places to Live
Two more places that are really amazing and cheap to live in are listed below:
2.1 Saguenay, Quebec
Saguenay is one of the most affordable areas to live in, but a number of vital industries keep the region vibrant. Hydroelectric power constitutes one of the major economic sectors because of the abundance of rivers in the region.
Because Saguenay generates one-third of all the aluminum made in Canada, it is referred to as the River Valley of Aluminum. Due to the skilled farmers and the distinctive environment of the area, the agrifood sector is also experiencing rapid growth.
Tourism, research in medicine, and forestry are additional industries in the area. Many different factors can lead someone to choose to reside in Saguenay. It is accessible to the natural world, affordable, and has a strong cultural scene.
The average annual salary is $63,214. People of Saguenay, Quebec, assessed their degree of happiness with life using a rating system of 8.2 out of 10 in a study conducted in 2015 the Statistics Canada.
2.2 Shawinigan, Quebec
Winters in Shawinigan are cold and slushy and summertime there are hot and humid. If you like to be outside, it’s an excellent place to live. The legendary Classique International de canons de la Mauricie marathon canoe race has been held annually since 1934. They also host a celebration with fireworks and local musicians.
The Laurentide Paper Company will still be there when you get there if you need to get a job. In Shawinigan, there is also a major hydroelectric facility near the Saint-Maurice River. About 49,000 people live in the city. It is approximately two hours away from Quebec City.
In an effort to boost its economy, Shawinigan is constructing a smart city. With the launch of modern technology and novel services, the smart city program was started in 2014 with the goal of enhancing the standard of life for Shawinigan’s citizens.
In July 2021, the governments of Canada and Quebec provided Shawinigan with $4.99 million to support a $10 million project to build a new center for smelting scrap aluminum. The regional economy managed to expand as a consequence, and the community’s residents now enjoy enjoying life in among the country’s most affordable areas.
This was all about the topic “10 Cheapest Places to Live in Canada“.
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Queries and Answers
Some of the most asked questions regarding the topic “10 Cheapest places to live in Canada” are listed below:
1. Which Canadian city has the most affordable cost of living?
The loan organization claims that the most affordable place to reside in Canada is in Quebec. The cheapest city in the nation is Trois-Rivieres, Quebec, where one-bedroom flat rents for $560 per month, and the average monthly budget for one household without rent is $670.
2. Which province in Canada has the most affordable cost of living?
One of Canada’s provinces with the cheapest cost of living expenses continues to remain Quebec. This is due to a number of factors, including some of the lowest rentals in Canada and subsidized child care, as well as the fact that power costs in Quebec are significantly cheaper than in the rest of the country, at 7.3 cents per kWh.
3. Which Canadian city is the greatest for Indians to live in?
For Indian immigrants with credentials in engineering, mineral extraction, or related fields, Calgary is a top destination. In comparison to other Canadian cities, Calgary is essentially in the middle of the road in terms of the cost of living. It is more costly than Montreal, adjacent cities, and Winnipeg but less expensive than Toronto and Vancouver.
4. Is Toronto less expensive than Vancouver?
Toronto: Living expenses. When comparing the average pay, housing costs, and the cost of daily living, Vancouver and Toronto are both expensive cities to live in. However, when it comes to expenses like rent, utilities, and groceries, Vancouver really beats Toronto.