Top 10 Most expensive cities to live in Canada – 2024

Studies
Canada

Canada is known for its beautiful scenery and urban sophistication, but some cities really stand out for both their beauty and the cost of living. Living in these cities might be pricey, but it comes with an amazing lifestyle. These cities continue to shape Canada’s global image, and they play a big part in the ongoing connection between cost and excellence in the Canadian city scene.

Whether it’s the bustling feel of Toronto or the relaxed vibe of Vancouver, each city adds something special to Canada’s worldwide charm. They don’t just have a high cost; they also offer an overall high quality of life. For those looking for the ultimate Canadian living experience, these cities are where it’s at.

If you’re wondering what the most expensive cities are in Canada, we’ve got you covered. In this article, we’ve highlighted 10 of the most populated cities in Canada from most expensive to least expensive.

most expensive cities canada infographic

Methodology

We ranked Canada’s top 10 most populated cities from most expensive to most affordable based on three factors: the average monthly cost of buying a property, the average cost of renting a one-bedroom apartment, and the overall cost of living per month.

To gauge housing affordability, we considered both the cost of buying a property and apartment rental pricing for 1 bedroom. We’ve collected statistics from the Canadian Real Estate Association and Realtor.ca regarding property pricing, and Zumper’s data for the average cost of renting one-bedroom apartments.

Additionally, we used Numbeo’s data to understand the cost of living in each city, which helps us grasp the amount needed to comfortably maintain a certain standard of living and comprehend the economic dynamics of these cities.

Ad

Widgets Magazine

Canada's most populated cities ranked from most expensive to cheapest

Featured in this article

Ad

1. Vancouver

  • Population: 2,642,825
  • Average 1-bed apartment rent:$2,675
  • Average home price: $1,197,700
  • Cost of living: $3793.63

Vancouver is our number one most expensive place to live in Canada and also one of the most populated cities in Canada, with a population of 2,642,825. According to the Vancouver Economic Commission, Vancouver has the fastest-growing and most diverse economy in Canada, which stayed strong even during the pandemic. The city’s economy relies on various competitive sectors like technology, film, digital entertainment, and the green economy.

Statcan (2021), Zumper (Aug 2024), Realtor (Aug 2024) & MovingWaldo (Aug 2024)

Craig Veroni
Craig VeroniReal Estate Agent at Real Broker in Vancouver
Read More

“As a local expert real estate agent in Vancouver, I can confirm that while we often top the charts as one of the most expensive cities in the world, we’re also consistently ranked among the best places to live globally—and for good reason. With its breathtaking natural surroundings, vibrant culinary scene, a resilient and diverse economy, and an unmatched outdoor lifestyle, Vancouver attracts people from all over the world. Having personally filmed over 60 neighbourhoods across Metro Vancouver and helped numerous families from around the globe relocate here, I’ve seen firsthand why Vancouver remains such a sought-after destination.”

Vancouver, British-Columbia

2. Toronto

  • Population: 3,025,647
  • Average 1-bed apartment rent: $2,369
  • Average home price: $1,097,300
  • Cost of living: $3,523.17

Toronto, Canada’s largest city, is a global powerhouse in business, finance, technology, entertainment, and culture. Known for its immense multiculturalism, with a diverse population of immigrants from around the world, Toronto stands as one of the most culturally varied cities globally. Moreover, Toronto is surrounded by natural beauty, with the great lakes, parks, and picturesque landscapes providing a balance to its urban vibrancy.

Statcan (2021), Zumper (Aug 2024), Realtor (Aug 2024) & MovingWaldo (Aug 2024)

Yael Bunting
Yael BuntingReal Estate Agent at Sage Real Estate Limited in Toronto
Read More

“As a born-and-raised Torontonian, I absolutely love selling real estate in this city. Despite the high prices, there is an amazing quality of life. Torontonians benefit from a remarkable amount of world-class restaurants, a diverse cultural scene, amazing live theatre and concerts featuring the world’s top artists, and there is no shortage of festivals and events. To top it all off, what many don’t realize until they get up in the sky is that Toronto is incredibly green! There are parks, nature trails, and an incredible amount of mature trees throughout the city.”

Toronto, ON

3. Mississauga

  • Population: 717,961
  • Average 1-bed apartment rent: $2,268
  • Average home price: $1,082,400
  • Cost of living: $3,589.32

Mississauga is a thriving economic hub, hosting numerous businesses, corporations, and industries. The city’s economic prosperity attracts a skilled workforce and contributes to a higher cost of living. However, it offers a range of amenities, services, and cultural attractions, contributing to the overall quality of life. The Credit River Valley, with its clean waters, provides scenic parkland for recreational activities, and with over 500 parks and 71 scenic trails in the Mississauga area, it ensures a memorable stay, whether for an activity-packed weekend or a relaxing getaway.

Statcan (2021), Zumper (Aug 2024), CREA (July 2024) & Numbeo (Aug 2024)

Ronia Barakat
Ronia BarakatReal estate agent at RE/MAX Realty Specialists Inc.
Read More
As a local realtor, I’m excited to share that Mississauga offers a perfect balance of urban amenities and natural beauty, with a thriving business district, excellent shopping, and diverse cultural attractions. The city is known for its welcoming, multicultural community, offering a wide range of dining options, festivals, and events. With beautiful parks, waterfront trails, and top-rated schools, Mississauga is an ideal place for families and professionals alike.

Mississauga, ON

4. Brampton

  • Population: 656,480
  • Average 1-bed apartment rent: $2,060
  • Average home price: $999,000
  • Cost of living: $2,960.07

Brampton’s real estate market, similar to much of the Greater Toronto Area, faces strong demand coupled with limited housing supply. This imbalance frequently results in higher home prices. According to CBC News, rental costs are going up faster in Brampton than any other Canadian city. Data shows Brampton is not only one of the most expensive cities to live in Canada but also ranks as Ontario’s most expensive city for car insurance. However, Brampton’s proximity to Toronto provides locals with access to the economic and cultural offerings of a major metropolitan area while enjoying a more suburban lifestyle.

Statcan (2021), Zumper (Aug 2024), Zolo (2024) & Numbeo (Aug 2024)

Brampton, ON

5. Hamilton

  • Population: 785,184
  • Average 1-bed apartment rent: $1,700
  • Average home price: $843,500
  • Cost of living: $3,263.22

Hamilton’s proximity to the breathtaking Niagara Falls and the scenic Bruce Trail appeals to nature lovers, offering abundant opportunities for outdoor activities. Hamilton stands out for its strategic location between Toronto and Niagara adds to its appeal, making it an ideal choice for those seeking a harmonious blend of city life and natural beauty. However, being close to Toronto, Hamilton experiences spillover effects from Toronto’s high housing costs, impacting the overall cost of living.

Statcan (2021), Zumper (Aug 2024), CREA (July 2024) & Numbeo (Aug 2024)

Rachelle Aurini
Rachelle AuriniReal estate agent at Royal LePage State Realty
Read More

“Born and raised in Hamilton, and selling real estate here since 2005, I have seen many changes over the years, including the city’s growing population, currently at 785,184. Population isn’t the only thing going up—the average rent for a 1-bedroom apartment is now around $1,700, and the average price of a detached home is $843,500. With a cost of living around $3,263.22 per month, it remains more affordable than Toronto, attracting new residents seeking both value and lifestyle.

If you think Hamilton is just the industry you see as you drive over the Skyway Bridge, think again. For nature lovers, Hamilton is a great place to call home. The Bruce Trail, which stretches 900 km across Ontario, cuts right through the city and is easily accessible from many neighborhoods. Ample bike trails, hikes, waterfront trails, beach areas, and waterfalls offer amazing opportunities to get outside year-round. Music and the arts are your thing? We’ve got that too! Both have flourished over the years with venues like The Casbah and Mills Hardware showcasing local talent, while the Art Gallery of Hamilton remains a cultural hub. Our restaurant scene is thriving too, with standout spots like Applada Greek Fusion Restaurant, Quatrefoil, Bardo, and Berkeley North drawing food lovers from all over. Great breweries like Fairweather, Grain and Grit, Collective Arts, and Shawn and Ed’s are local gems making their mark on the craft beer industry. Curious about the city and everything it offers? Reach out to me anytime!”

Hamilton, ON

6. Ottawa

  • Population: 1,017,449
  • Average 1-bed apartment rent: $1,998
  • Average home price: $648,900
  • Cost of living: $3,262.47

Ottawa joins the list of expensive cities in Ontario, making it one of the most expensive places to live in Canada. Although it is cheaper than other cities on this list, it still ranks above most places in Canada. Ottawa is the capital city of Canada, which makes it home to Parliament Hill. For this reason, many people who desire to work for the Government of Canada relocate here. Its status as the national capital attracts a high concentration of government and diplomatic activities, contributing to a higher cost of living.

Statcan (2021), Zumper (Aug 2024), CREA (July 2024) & Numbeo (Aug 2024)

Gina Merlin
Gina MerlinReal Estate Agent at eXp Realty
Read More
“Ottawa may be one of Canada’s pricier markets, but it stands out for its affordability and quality of life. The housing market here is stable, backed by the federal government and a growing tech sector, which attracts buyers who value lifestyle, education, and job security. With its natural beauty, vibrant culture, and unique bilingual charm, Ottawa truly offers a balanced blend of everything that makes Canadian cities special.”

Ottawa, ON

7. Calgary

  • Population: 1,481,806
  • Average 1-bed apartment rent: $1,841
  • Average home price: $588,600
  • Cost of living: $3,209.90

Calgary’s allure is heightened by its proximity to Banff National Park, just over an hour’s drive away. Banff offers residents of Calgary easy access to outdoor activities like hiking, skiing, and wildlife watching. This proximity to breathtaking natural settings enhances the overall lifestyle of Calgary, making it an appealing choice for those who value the beauty of nature and seek outdoor adventures. Calgary’s economic success, particularly in the energy sector, has led to increased demand for housing and services, impacting the cost of living. According to Calgary News, rent is rising in Alberta due to a significant population boom. In the fourth quarter of 2021 and 2022, net migration surged by 221%, bringing in 120,000 people to the province, driving up demand for housing and contributing to increased rent.

Statcan (2021), Zumper (Aug 2024), CREA (July 2024) & Numbeo (Aug 2024)

Calgary, Alberta

8. Montreal

  • Population: 3,675,219
  • 1-bedroom apt average rent price: $1,776
  • Average home price: $533,100
  • Cost of living: $2,665.56 

Montreal thrives on its diverse population, creating a multicultural vibe that embraces different traditions, languages, and customs. The city’s bilingual nature, with both French and English widely spoken, offers a special cultural experience, encouraging diverse interactions and language growth. Famous for its lively cultural scene, Montreal hosts countless festivals, art venues, theaters, and a variety of delicious foods, making life vibrant and exciting for residents.This city ranks lower on our list of the most populated cities in Canada, ordered from most expensive to cheapest, because it is relatively more affordable than others. Additionally, it offers numerous parks and green spaces, providing locals with areas for relaxation, recreation, and outdoor activities.

Statcan (2021), Zumper (Aug 2024), CREA (July 2024) & MovingWaldo (Aug 2024)

Vanessa Chérestal
Vanessa ChérestalResidential Real Estate Broker at Re/Max Montreal
Read More

“As a local expert Real Estate agent in Montreal, I can confidently say that this city offers a dynamic and welcoming environment for individuals and families alike. With a wide range of housing options, from charming condos to spacious single-family homes, Montreal provides opportunities for everyone, whether you’re a first-time buyer or an experienced investor. The city’s extensive metro system and convenient public transportation make it easy to navigate, ensuring accessibility to all corners of Montreal.

What sets Montreal apart is its commitment to creating safe and inclusive neighborhoods. With low crime rates and active community engagement, residents enjoy a sense of security and belonging. Additionally, recent city initiatives, such as the development of eco-friendly green spaces and infrastructure improvements, continue to enhance the quality of life for everyone. Whether you’re looking for a vibrant urban setting or a quieter suburban lifestyle, Montreal has it all—and I’m here to guide you every step of the way in finding your ideal home.”

Montreal, Quebec

9. Edmonton

  • Population: 1,418,118
  • Average 1-bed apartment rent: $1,397
  • Average home price: $399,700
  • Cost of living: $2,635

Edmonton offers a range of attractions and conveniences that make it a great place to live. Just a few hours’ drive from the Rockies, it provides easy access to stunning natural landscapes. Sports enthusiasts can catch an Edmonton Oilers game, while food lovers can explore various restaurants offering diverse cuisines and major chain stores. Home to the largest mall in Canada, the Mall of America, shopping opportunities are virtually limitless.The city has good schools and a network of scenic trails for biking or walking along the picturesque River Valley, which is possibly set to become an urban national park and is the largest urban park in the world. As a key hub in Canada’s oil and gas industry, Edmonton benefits from low gas prices. With minimal traffic, low taxes, and an expanding LRT system for improved transportation, commuting is stress-free. Housing remains highly affordable, with condos available for under $200,000, allowing for homeownership at rental prices.

Statcan (2021), Zumper (Aug 2024), CREA (July 2024) & Numbeo (Aug 2024)

Edmonton, Alberta

10. Winnipeg

  • Population: 834,678
  • Average 1-bed apartment rent: $1,381
  • Average home price: $361,600
  • Cost of living: $2,696.70

Winnipeg is known for its affordable housing, making it an attractive option for those locals seeking a reasonable cost of living. The city is also known for its cultural diversity, evident in its festivals, food events, and community events. Despite being more affordable than some other cities, Winnipeg’s stable economy and job market can still contribute to a higher cost of living compared to smaller cities. As of November 2023, the average cost of buying a property in Winnipeg is $332,700, while the average monthly rent for a 1-bedroom apartment is $1,287 in December 2023. If you want to live comfortably in this place, it is essential to know that the cost of living here is $2,135.10 per month.

Statcan (2021), Zumper (Aug 2024), CREA (July 2024) & MovingWaldo (Aug 2024)

Winnipeg, Manitoba

Featured in this article

Conclusion:

Our Top 10 Most Expensive Cities to Live in Canada this year show a mix of high costs and great living. Living in these cities can be pricey because of factors like housing markets and the overall quality of life.

The cost of living in Canada is high, and it is important to plan on how to balance your expenses to avoid financial difficulties. These cities are costly, but you will experience a comfortable living. Are you moving to Canada soon? Check out the best long-distance moving companies in Canada.

 

Last year’s ranking (2024)

  1. Vancouver
  2. Toronto
  3. Mississauga
  4. Brampton
  5. Hamilton
  6. Ottawa
  7. Calgary
  8. Montreal
  9. Edmonton
  10. Winnipeg

 

It is important to note that some locations may have been excluded from last year’s lists due to nonconformance with our methodology. This may include areas with insufficient rental data or those with higher/lower average housing prices in the previous year. We encourage readers to consider these rankings alongside their individual needs and preferences to make more informed decisions.

Ad

Widgets Magazine

Share this article on social media

Alexa Polichronis

The author

Meet Alexa, the Marketing Coordinator at MovingWaldo. Having acquired a wealth of knowledge over the years about the moving industry, Alexa knows all the tips and tricks to make your move a breeze. Equipped with creativity and a passion for efficiency (and a love for travel), she’s here to present information in the most effective way, ensuring you save time and money.
How much is your move?

Find a mover

Easily compare multiple quotes

Organize your move

Guided through a checklist

Internet packages

Get up to speed on the new deals

Address change

Update your address in a few clicks

Join the network

Become a trusted vendor in your service area

For agents and brokers

MovingWaldo is a one-stop-shop that simplifies tackling moving tasks

What is MovingWaldo?

We guide millions of families through each step of their moving process, helping them save time and money, and making sure nothing gets left behind.

Trouver un déménageur

Comparez plusieurs devis

Organisez votre déménagement

Guidé à travers une checklist

Changement d’adresse

Mettez à jour votre adresse en quelques clics

Forfaits internet

Soyez au courant des nouvelles offres internet à domicile

Rejoignez le réseau

Devenez un fournisseur de confiance pour desservir votre région

Professionnels de l’immobilier

Prolongez la relation avec vos clients grâce à votre propre plateforme de déménagement personnalisé

Qu'est-ce que MovingWaldo ?

MovingWaldo est un guichet unique qui simplifie la planification du déménagement

Get our printable change of address checklist directly in your inbox