Top 7 Cheapest places to live in Canada with the Best quality of life – 2024

Home to a population of more than 40 million people, Canada has a lot to offer — from the wide-open spaces of the great plains to the hockey games, Niagara Falls, the Canadian Rockies and maple syrup. Canada is well-known for its cultural diversity and can be a home for anyone!

Before moving to Canada, it is suggested to research the cost of living in Canada so you have a better understanding of your potential new home. In our ranking we did not include the provinces of Ontario and British Columbia due to their high cost of living.

In our ranking of the top cheapest places to live in Canada, we have focused on two specific provinces being New Brunswick and Saskatchewan given their quality of life and reasonable affordability. Here are the lists of the top cheapest places to live in Canada with the best quality of life this year.

cheapest places canada

Methodology

We based our ranking of the cheapest places to live in Canada on the average cost of buying a property, the average cost of rent for a 1-bedroom apartment, and the quality of life. We mainly collected the data from Realtor.ca and Zumper

The “Best quality of life” aspect is measured based on feedback from real people who have moved to this area in our database or from trusted online forums. Specifically, we consider positive feedback on job opportunities, quality of education, healthcare, safety, public transportation, environment (cleanliness), and the availability of recreational facilities and parks.

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Cheapest places to live in Canada

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1. Fredericton, New Brunswick

fredericton new brunswick
  • Average 1-bed apt rent: $1,250
  • Average home price: $308,300

Fredericton, the capital of New Brunswick, is a charming East Coast city in Canada with a rich history. The city is known for its beautiful old buildings, many of which are over 100 years old—a rarity in Canada. Fredericton offers a variety of outdoor activities, including picturesque waterfalls and scenic hiking trails. It’s also a popular spot for biking, relaxing, and enjoying performances at The Playhouse.

The city is home to many local farmers who sell fresh produce and fish, and it boasts stunning views of the Saint John River. In the summer, Fredericton comes alive with music events and festivals, making it a vibrant place to be.

Housing in Fredericton is very affordable compared to the rest of Canada. The average rent for a one-bedroom apartment is $1,250, and the average property price is $308,300.

The community is known for its strong volunteer initiatives and a thriving craft beer scene. While a good portion of the population speaks French, most daily conversations are in English, so French is not necessary unless you work in a government job.

Zumper (Aug 2024) & Realtor (Aug 2024)

Fredericton, New Brunswick

2. Calgary, Alberta

calgary, alberta
  • Average 1-bed apt rent: $1,841
  • Average home price: $588,600 

Calgary is more affordable compared to other major Canadian cities. It’s also just a 1-hour and 20-minute drive from Banff, often regarded as one of the most beautiful places on earth, offering breathtaking scenery. With a CSI of 72.47, Calgary is safer than many other large cities in the country. Housing is also reasonably priced, with homes averaging around $588,600, and 1 bedroom apartments average at $1,841 per month

Known as the center of Canada’s oil industry, Calgary offers ample job opportunities in that sector. There is also a high demand for professionals such as nurses, food counter attendants, retail managers, and administrative officers. Many people are relocating from Toronto to Calgary for better job prospects and more affordable living.

Calgary has plenty to offer, from cheering on the Calgary Flames (the city’s popular hockey team) to exploring its numerous nature trails. While air quality can be a concern at times, the city’s many advantages make it a top choice, securing its spot on our list.

Zumper (Aug 2024) & CREA (July 2024)

Calgary, Alberta

3. Edmundston, New Brunswick

Apartment in Edmundston, Nouveau-Brunswick
  • Average 1-bed apt rent: $800
  • Average home price: $308,300

From art galleries to the Grey Rock Casino, you won’t be disappointed by the variety of activities you can enjoy in Edmundston. What makes Edmundston unique is that it is one of the most Francophone towns outside the province of Quebec. Over 90% of the population in Edmundston are French speaking, as their first language.

Edmundston is not only known as a university town but as the business centre for Madawaska. Locals appreciate that the city is located right next to the United States border, making Maine easily accessible by car. It is also conveniently close to the province of Quebec, making day trips to Quebec City possible. Residents have noted that the city is a great place to raise a family, thanks to educational institutions like Saint Mary’s Academy and École Notre-Dame.

Facebook Property Search near Edmunston (Aug 2024) & Realtor (Aug 2024)

Edmundston, New Brunswick

4. Saint John, New Brunswick

Apartment in Saint John, Nouveau-Brunswick
  • Average 1-bed apt rent: $1,249
  • Average home price: $308,300

Saint John is a beautiful city with a view of the Bay of Fundy. It has many beaches that are perfect for outdoor activities, such as Saints Rest Beach and McLarens Beach. Locals have noted that Saint John is not a walkable city, so it is suggested to have a vehicle on hand if you are thinking of moving here.

It is recommended to visit uptown Saint John, as this is where you will find restaurants and bars—perfect for a weekend activity. Saint John is also full of history and culture, being Canada’s oldest incorporated city!

Zumper (Aug 2024) & Realtor (Aug 2024)

Saint John, New Brunswick

5. Regina, Saskatchewan

3. Saskatchewan - Top 7 Cheapest Provinces in Canada with the Best quality of life – 2024
  • Average 1-bed apt rent: $1,299
  • Average home price: $307,214

Regina, the capital of Saskatchewan, is known as the perfect family haven due to its easy accessibility to the city in less than 20 minutes. Not only is Regina an affordable city to live in, but it also has a small-town feeling, as noted by many locals. If you are looking to integrate into the community, Regina is the perfect city due to its large golf culture at the Royal Regina Golf Club.

It is important to note that many residents have explained that Regina is a city for a more mature audience as it is a government town. Residents also mentioned that the University of Regina is very focused on the fine arts department, so there are always art galleries open to the public, making for a perfect pastime.

Zumper (Aug 2024) & Remax (2024)

Regina, Saskatchewan

6. Edmonton, Alberta

edmonton buildings
  • Average 1-bed apt rent: $1,397
  • Average home price: $399,700 

Edmonton is the capital of Alberta, the fifth largest city in Canada with a population of just over one million. It is one of Canada’s youngest and fastest growing cities and 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. Edmonton hosts a broad spectrum of festivals year round, reflected in the nickname “Canada’s Festival City.” 

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 in fact it is 22 times the size of New York’s Central Park. Edmonton has 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.

Zumper (Aug 2024) & Realtor (Aug 2024) 

Patrick Fields
Patrick Fields Real Estate Agent with REAL Broker
Read More
"As a local expert, I can definitely confirm all the great things mentioned above. Plus, let me add that Edmonton is also one of Canada’s sunniest cities, with up to 17 hours of daylight in the summer—perfect for those long summer evenings! We Edmontonians also enjoy more affordable home ownership, spending just 31% of our income on housing, compared to the national average of 63%. Add in our vibrant arts and culture scene, top-notch education and healthcare, a booming innovation market, and a strong energy sector, and it's easy to see why Edmonton is such a great place to call home."

Edmonton, Alberta

7. Halifax, Nova Scotia

Halifax - International moving companies
  • Average 1-bed apt rent: $2,100
  • Average home price: $564,000

Halifax is increasingly popular among Canadians from larger, more expensive cities, as they seek more affordable housing options. While renting in Halifax can still be relatively pricey and general costs such as food are higher compared to other regions, buying property remains much more affordable than in Toronto or Vancouver.

Residents often have mixed feelings about Halifax: some fall in love with the city and vow never to leave, while others feel differently. The city is known for its friendly people, vibrant culture, and rich history. Halifax offers stunning Atlantic coastlines, beautiful beaches, and scenic trails. For those who appreciate nature and coastal living, Halifax presents a relatively affordable opportunity to buy a home.

Zumper (Aug 2024) & Realtor (Aug 2024)

Halifax, Nova Scotia

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Affordable Housing Options in Canada

Even though we’ve looked at some of the cheapest places to live in Canada, you might want to know other affordable housing options. To avoid breaking the bank, check out the affordable housing options below.

Tiny Houses in Canada

Tiny houses are small houses of around 400 sq ft. that are usually on wheels so they can easily be parked and transported. A tiny house can cost anywhere from $10 000 to $150 000 depending on who built it, the materials used and how big it is. However, it is nearly impossible to find a legal place to park a tiny house full-time in Canada. Advocates are pushing to create more tiny house communities across Canada so that people can call their tiny houses their primary residences. Some of the tiny house communities and movements in Canada:

Getting Roommates in Canada

Depending on which provinces you are living in, rent can be expensive if you live on a tight budget. The rent price is particularly high in British Columbia and Ontario. Getting roommates is a wonderful way to reduce your housing costs each month. Students in Canada mostly get roommates so they can be near their university without having to overspend on their rent or travel far.

First-Time Home Buyer Incentive in Canada

The First Time Home Buyer Incentive was initiated in 2019 by the Canadian Government to help home buyers afford the down payment on their first home. The type of property you want to buy determines the amount that the government will help you with.

  • 5% of the purchase price of an existing or mobile home.
  • 5% or 10% of the purchase price of a newly constructed home.

You’ll have to repay the incentive within 25 years and there is no interest attached to it.

How Much Mortgage Can I Afford in Canada?

Mortgages given to you by a bank depend on the amount of money you earn, debts incurred, and your general living expenses. The higher mortgage you can afford, the more expensive a home you can afford to purchase. The price of homes can vary depending on which province you are living in Canada. However, you might want to find out how much mortgage you can afford with this Mortgage Calculator Tool based on your household income, debts, and down payment amount.

Household Income  before taxes, no debts  Down Payment Maximum Mortgage You Can Afford in Canada
$45,000 $30,000 $192,987
$55,000 $40,000 $244,022
$65,000 $50,000 $295,058

Why Do People Move to Canada?

People move to Canada for the following reasons:

  • Stunning nature views
  • Low crime rates
  • Employment and investment opportunities
  • Top-notch educational institutions
  • Cultural diversity
  • Outdoor recreational activities: skiing, hiking, fishing, mountain biking and more!
  • Quality of life
  • The kindness and tolerance of Canadians
  • Free health care
  • Women’s rights
  • LGBTQ+ rights

Conclusion

Canada is home to many lakes, mountains, and natural parks, making it perfect for nature lovers. The country also offers excellent job opportunities. With this list of the cheapest places to live in Canada, you should be able to make a choice after determining what type of housing you can afford based on your income and lifestyle. If you are moving across Canada soon, you might also want to check out the best long distance moving companies in Canada.

Last year’s ranking (2024)

  1. Edmundston, New Brunswick
  2. Lloydminster, Alberta
  3. Regina, SK
  4. Winnipeg, Alberta
  5. Saint John, New Brunswick

Our rankings are meticulously curated with a focus on safety, affordability, and quality of life. Please note that some locations from last year’s rankings may have been excluded from this year’s list due to deviations from our methodology. This could include areas with insufficient rental data or those with higher average housing prices compared to the previous year. We encourage readers to consider these rankings in conjunction with their individual needs and preferences to make well-informed decisions.

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Ann Nacario

The author

Meet Ann – our head writer with a knack for making moving and city living a breeze. From the many details of moving to picking the perfect moving company, she’s your guide. Ann has a friendly yet detailed approach to ensure your move goes off without a hitch. When she’s not writing about relocation, it will always be on her mind, but you’ll catch her spending time with her three furry friends.
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