The 41 Cheapest Places to Live in Canada

Written By Sushma Singh

Are you looking for a city to call home that is affordable and provides an excellent opportunity to work? In this article, we will inform you about many such cities. You may be surprised at some of the locations that made the cut. All of these cities offer great value for your hard-earned dollar. Whether you are looking for a place to start a family or simply want to save on your monthly expenses, one of these cities is sure to fit your needs. The country we are focusing on is Canada and this list will include the cheapest places to live in Canada.

What makes these cities in Canada affordable? 

There are a variety of factors that can lead to more affordable places to live in Canada. One factor is the cost of living in different parts of the country. In general, cities tend to be more expensive than rural areas, so if you are looking for cheaper places to live, you may want to consider moving to less populated areas.

Another factor affecting the cost of living is the availability of jobs. If an area has a lot of job opportunities, it may be more expensive to live there because people are willing to pay more for the convenience of having a good job nearby. However, if an area has fewer job opportunities, it may be cheaper to live there because people are not as willing to pay a premium for access to jobs.

Finally, housing is another major factor leading to cheaper places to live in Canada. The closer the area is to a major city, the more expensive it will be to live there.

The 41 Cheapest Places to Live in Canada

Canada has seen unprecedented growth over the years. It has resulted in many people moving to Canada from various countries in search of better opportunities and stability. The places given below are perfect if you want to save money while staying at a good place. Without further ado let us begin our list.

1. Thetford Mines, Quebec

Thetford Mines is one of the cheapest places to live in Canada. The city has a lot to offer residents with a low cost of living. Once famous for the world’s best asbestos production, the city is now the top maple syrup-producing area. Back in 2012, Canada banned the asbestos sale, and hence its most significant asbestos mines shut down. There are many schools and institutions in the city.

If you are looking for an affordable place to live in Canada, Thetford Mines can be one of them. The city is an amazing place to stay with family, as one can find plenty of recreational and fun activities in the city. A family’s average earning is around $61,670 annually, and the cheapest house that you can find here costs around $59,900.

2. Saguenay, Quebec

The cost of living is relatively low, and you can find plenty of affordable housing options, the cheapest being around $65,000. The best part is that various amenities in the city are offered free to its residents. Saguenay has the lowest cost of living compared to other cities in Canada. It has been ranked as one of the cheapest cities to live in, not just in Canada but all of North America. The city is famous for its hydroelectric power supply.

In addition to being affordable, Saguenay is also a great place to live because many free or low-cost amenities and activities are available. The city has several parks and recreation areas where you can go and enjoy yourself with your friends or family.

3. Moose Jaw, Saskatchewan

Moose Jaw, Saskatchewan, is the cheapest city to live in Canada, according to a recent study. The study looked at the cost of living in Canadian cities and found that Moose Jaw had the lowest overall costs, including housing, food, transportation, and other expenses.

Known to be a friendly yet infamous city, Moose Jaw is based on agriculture, NATO Flying Training, transportation, potash mining, healthcare, and tourism. The cheapest residence here costs around $62,900, and the average earning of a family in the town is approximately $61,571.

4. Shawinigan, Quebec

With a low cost of living and plenty of job opportunities, the city is also home to several colleges and universities. Shawinigan is a perfect choice if you want a place to call home. The distance between Shawinigan from Quebec is around a 2-hour journey.

With a population of almost 50,000, the city has a great climate and beautiful scenery. The average earning of a family in the city is around $63,214 and the cheapest house you can find here costs about $89,500. This city is among the cheapest places to live in Canada.

5. Regina, Saskatchewan

Regina, Saskatchewan, is the cheapest city to live in Canada. According to a recent study, its has been stated that Regina’s cost of living is the lowest compared to any other major city in the country. The study looked at the cost of living in eight categories- housing, food, transportation, child care, healthcare, clothing and footwear, recreation and culture, and other expenses.

Regina was found to be cheaper in each category than every other major city in Canada. For example, the average rental cost of a one-bedroom apartment in Regina is just $500 per month. The cheapest house you can find here costs around $95,000. The average earning of a family in the city is around $65,600.

6. Rouyn-Noranda, Quebec

According to a recent study, Rouyn-Noranda is one of the cheapest cities to live in Canada. The city contributes to various industries, such as lumber and dairy, which provide jobs for people in the area. The local economy processes electronic scrap containing copper and other precious metals.

Despite its small size, Rouyn-Noranda has all the amenities you need for a comfortable life. The cheapest house you can find here costs around $85,000. The average earning of a family in the city is around $63,214. The city observes a cold climate with significant rainfall throughout the year. People usually speak French here, so you will have to learn this language a bit if you plan to move here.

7. Baie-Comeau, Quebec

When it comes to the cheapest places to live in Canada, you can’t go wrong with Baie-Comeau, Quebec! This city is consistently ranked as one of the country’s most affordable places to live. The cost of living in Baie-Comeau is relatively low, with basic expenses like food and housing costing less than in other parts of Canada. The cheapest house you can find here costs around $63,214.

The average earning of a family in the city is around $94,900. The economy relies heavily on the region’s forests. The pulp and paper industry provides employment to people in Baie-Comeau. The city also employs people in aluminum and a hydroelectric power plant. If one is keen to have some adventure, the city has it all; from hiking to biking trails to art galleries and museums, you will indeed find something in Baie-Comeau.

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8. St. John’s, Newfoundland

Being one of the cheapest cities to live in Canada, St. John’s is also one of the most beautiful cities, with its stunning coastal scenery and friendly residents. St. John’s used to be a fishing village, but now it’s an oil town with headquarters for major companies like Exxon, Chevron, and Husky Energy.

The city is charmingly beautiful and very vibrant. There are many things to see, such as the colorful wooden houses along cliff-sides or how Cabot Tower sits atop one hill after another. The cost of living is low, and the median household income of a person is $63,396. The city has the cheapest house, which costs around $69,900.

9. Quebec City, Quebec

The cost of living in this city is very reasonable, and the best thing is that it also offers an excellent quality of life. Quebec City offers a competitive cost of living along with affordable tuition fees. The city has smaller institutes. Many people here speak both languages French and English fluently.

There are plenty of job opportunities, and the city has a strong economy. The city deals with economic sectors such as tourism, health and nutrition, pharmaceuticals, manufacturing, metal fabrication, and many more. The cost of living is low, and the median household income of a family is around $60,239. The city has the cheapest house, which costs around $99,000.

10. Prince Albert, Saskatchewan

Prince Albert, Saskatchewan, is one of the cheapest places to live in Canada. The cost of living is low, and there are numerous housing options to choose from. The city has the most affordable house, which costs around $74,900.

The best part is that this city has a low crime rate and is a great place to stay with your family. The winter in Prince Albert lasts for five months and can be very cold.

The summertime is when you will find high temperatures averaging around 23 degrees Celsius or so. The cost of living is low, and the annual household income is around $61,575. There are a lot of job opportunities here with all these industries keeping the city thriving, such as agriculture/forestry, mining & retail as well.

11. Trois-Rivières, Quebec

This charming city is located in the province of Quebec and is known for its inexpensive cost of living. The town has pulp and paper mills. However, the city does not only comprise these industries. The city’s business is incorporated with wind turbines, and have created thousands of job opportunities for the citizens of the country.

Additionally, there are plenty of free or low-cost activities to enjoy in this city. The city has the cheapest house, which costs around $139,900. The annual household income of a person in Trois-Rivières is $31,200 on average.

12. Lévis, Quebec

Lévis, Quebec is a small city located on the St. Lawrence River and can be reached by a quick ferry ride. This magnificent body of water includes various fun activities, such as fishing tournaments throughout the summer, and several water activities such as kitesurfing, rafting, freediving, canoeing, kite buggying, rabaska canoeing, and many others. With so many activities, the city is considered a thriving metropolis that also consists of an agricultural and business research center.

The annual earnings of a family in the city are approximately $63,759, and the cheapest house you can find in the city may cost around $119,000.

13. Sherbrooke, Quebec

Sherbrooke, Quebec, is the cheapest city to live in Canada. It has a population of around 200,000 people and is located in the eastern province of Quebec. The average price for a home in Sherbrooke is about $119,000, which is significantly lower than an average of $450,000.

Sherbrooke’s rent prices are also very reasonable, with the average one-bedroom rental apartment costing just over $639 per month. Overall, it is a great place to settle as the city comprises 108 parks and green spaces, making it easy for residents who prefer spending time outdoors; plus, it also offers numerous job opportunities. Sherbrooke is also an excellent place to study.

14. Surrey, British Columbia

Several factors make Surrey an affordable place to live. The good part is that the housing costs are relatively low compared to other parts of the country. The cheapest house one can find here will cost around $129,000. A person’s annual earnings in the city are approximately $73,006.

With the second-highest population density of any Canadian suburb, Surrey is a city that has seen incredible growth in recent years. From health care and technology to agriculture, all these different sectors ensure everyone gets their fair share at Surrey’s economic table. This place belongs in this list of cheapest places to live in Canada.

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15. New Glasgow, Nova Scotia

New Glasgow, though small in size, is a great city to reside. The best part about Nova Scotia is the reasonable standard of living which helps you save immensely.

It has also been rated as the cheapest city to live in Canada. The downtown area has several restaurants, shops, and services. A family’s annual earnings in the city are around $60,222. The cheapest house one can find here will cost about $80,000.

16. Lloydminster, Alberta

The city is known as the heavy Oil Capital of Canada. The cold weather and dry conditions are perfect for extracting oil from rock formations deep within the earth’s crust. The petroleum industry drives Lloydminier’s economy, and it remains one of their cheapest places to live despite being the home base for Cenovus.

The city has a low cost of living and is a great place to raise a family. Agriculture is also a prime sector of income in the city. The annual earnings of a family in the city are around $69,602. The cheapest house one can find here will cost approximately $99,900. In addition, Lloydminster offers a variety of amenities and activities that make it a great place to live.

17. Longueuil, Quebec

With a population of around 240,000, the city is considered one of the cheapest cities in Canada. Longueuil is located just south of Montreal, making it convenient for those who want to live a more reasonable and affordable lifestyle. The city’s public transit system makes getting around town easy and inexpensive. Longueuil is home to many companies that work in the aerospace industry.

The headquarters of the Canadian Space Agency, Agropur Furniture Company, Innergex Renewable Energy Inc., and Artemano Canada Corporation are located in Longueuil. With an annual salary income of $65,733 and the cheapest house, which costs around $129,000, the city is one of the most affordable cities in Canada.

18. Victoriaville, Quebec

Victoriaville has an array of industries that contribute positively to the economy. One such industry is Lactantia Factory, which makes dairy products like butter and cheese. In addition, many hardwood furniture plants are located in this beautiful city, including one major plant producing hockey sticks. It is quite affordable which puts it on this list of cheapest places to live in Canada.

The cost of living in Victoriaville is nearly 20% lower than the national average, and housing costs are a staggering 50% lower than the average Canadian city. With an annual salary income of $61,670 and the cheapest house, which costs around $174,900, the city is one of the most reasonable cities to live in Canada. In addition to being affordable, Victoriaville offers a high quality of life as well.

19. Saint-Hyacinthe, Quebec

Saint-Hyacinthe, a city in Quebec, Canada, is known as “the technopole of agriculture” because it has many research institutions dedicated to agricultural studies. The economy relies heavily on this field, and there are events held every year for people who work here to showcase new techniques that farmers can use worldwide. Despite its low cost of living, Saint-Hyacinthe offers residents a high quality of life.

It’s a safe and clean city with plenty of green space. There are also many great schools and hospitals in the city. As it is located just outside Montreal, residents can enjoy the benefits of a big city while still paying small-town prices. The median income of a family here is around $64,262, and the cheapest house you can find here will cost about $188,000.

20. Medicine Hat, Alberta

The sixth-largest city in Alberta, Medicine Hat, is a city rich in natural resources. It is known as the “Gas City” as its economy has been built on oil & gas production combined with agriculture for many years, but this isn’t enough to keep people here.

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The cost of living is very low, and many affordable housing options exist in this city. Medicine Hat also offers a variety of job opportunities. The cheapest house you can find here will cost around $149,900, with an annual family income of around $67,407.

21. Saint John, New Brunswick

This charming Maritime city is not only one of the country’s most affordable places to live but also offers numerous activities and amenities for residents and visitors alike.

Saint John situated at the Bay of Fundy is a sea port town. Being closer to the sea, it is an excellent location for shipbuilding and fishing businesses. In addition, Saint John has one large dry dock, making ships’ repairs easier than ever. The cheapest house you can find here will cost around $99,000, with the annual income of a family around $61,536.

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22. Red Deer, Alberta

This city has a strong economy with plenty of job opportunities. Red Deer is also a hub for sports and entertainment. The area has rolling hills with oil fields surrounding it and agriculture-based cattle farming; this has increased the industrialization in the city tremendously.

Figure skating Olympic gold medalist Jamie Sale comes from this region; she is a well-known player in North America as well, as she competes there with other top skaters. The median salary of a person here is around $67,407, and the cheapest house you can find here will cost approximately $152,000. Overall, Red Deer is an excellent place to live for those who have budget constraints.

23. Alma, Quebec

Alma is located in the Saguenay-Lac-Saint-Jean region of Quebec and has a population of just below 40,000. The city is an important industrial center due to the Price paper mill and hydroelectric power station. The city is home to several popular tourist attractions, and French is the most spoken language in Alma.

Being an important industrial center, it has a hydro-electric power station, paper mill and an aluminum smelting plant. Researchers found that the cheapest one-bedroom costs around $615 in the city and the house costs around $159,000. The average annual family income in the city is about $63,214.

24. Drummondville, Quebec

Drummondville, Quebec, is among the cheapest places to live in Canada. The cost of living is incredibly low, and the good part is that it is home to several affordable grocery stores. The residents can take advantage of free public transportation, and there are plenty of job opportunities as well.

Housing is much cheaper in Drummondville than elsewhere, and since four to five trains run through this small city every day during the summer season, you will want your house as far away from train tracks as possible. The summers can get hot with heavy rain, while winters tend to be cold but snowy. The average annual income of a family in the city is around $64,262, and the most affordable house one can find will cost around $195,000.

25. Moncton, New Brunswick

The city has a lot to offer residents, including various parks, recreation facilities and job opportunities. There are many museums and galleries showcasing the exclusive art and culture of the city. The city depends on transportation, health care, education, information technology, distribution, insurance, and retail for the economy. The average annual income of a family in the city is around $60,771, and the most affordable house one can find will cost about $104,900.

26. Fort Saint John, British Columbia

Fort Saint John, British Columbia, is the cheapest city to live in Canada. The cost of living is very affordable, and the city has a lot to offer residents. There are plenty of job opportunities, and the city is home to many great schools. The economy of Fort Saint John majorly depends on agriculture and oil production.

The city is known for exporting its forest woods to the USA. The weather is also mild, making it a great place to live year-round. Researchers found that the city’s cheapest one-bedroom costs around $675, and the most reasonable house is around $159,000. The average annual family income in the city is approximately $68,451.

27. Edmonton, Alberta

It is the cheapest city to live in Canada. The cost of living in Edmonton is relatively low, and the best part is that here you will get numerous housing options at a decent amount. Edmonton is a city where you can find the roots of many major companies, and it also houses some great schools and universities as well for your kids.

There are also many great job opportunities in the city. Edmonton is a great place to live for families and individuals alike as it has many good hospitals and recreational facilities like beautiful parks. The cheapest house in the city costs around $167,500. The median family income in the city is around $71,874.

28. Grande Prairie, Alberta

More than just oil and gas, Grande Prarie’s diversified economy includes agriculture, forestry/forestry services, and food service industries. The city’s largest employer is International Papers. With a low cost of living and a variety of job options, the city is a great place to reside.

The city has a low crime rate and comprises numerous well-known schools and institutions. The cheapest house one can find in the city costs around $148,700. The average annual income of a family in the city is around $69,602.

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29. Granby, Quebec

Granby is a small, picturesque town in Quebec where you can find one of Canada’s largest professional racing tracks and a beautiful zoo for residents and visitors. The city’s economy relies heavily on lumber, textiles, and dairy products. Granby also has many amenities and activities to keep residents entertained. The average annual income of a family in the city is around $61,670, and the most affordable house one can find will cost about $169,900.

30. Sorel-Tracy, Quebec

According to a recent study, it is the cheapest city to live in Canada. The cost of living in Sorel-Tracy is 20% lower than the Canadian average, and the median household income is $65,733. The town of Sorel-Tracy is a centre for farming, steelmaking, and more. The primary industries have created many job opportunities in this area, supporting residents and visitors from around Canada. The most affordable house one can find will cost around $209,000.

31. Dieppe, New Brunswick

Dieppe is a vibrant, exciting city. Its efficient business community and environmentally conscious culture has made the town an important hub for trade in Eastern Canada and the northeastern United States. Various job opportunities are available in Dieppe, making it a great option for families or individuals looking to relocate.

Dieppe is also close to some of the best beaches in New Brunswick, making it a wonderful place to live for those who love the outdoors. The median household income of a family here is $60,771, and the most affordable house one can find here will cost around $134,900.

32. Saint-Jean-sur-Richelieu, Quebec

The city has a median annual family income of around $43,865. The average house price in Saint-Jean-sur-Richelieu is $267,000, which is pretty lower than the average house price in Canada. The downtown area consists of several restaurants as well as some locally-owned shops.

The major manufacturing industries located in this city are textiles such as carpets or furniture, wood products, musical instruments, and sports equipment.

33. Conception Bay, Newfoundland

Conception Bay, Newfoundland, is the cheapest city to live in Canada. The cost of living is very low, and there are many opportunities to save money. There are no provincial sales taxes, making buying groceries and other necessities much cheaper than in other parts of the country.

Additionally, Conception Bay has a warm climate and features the most exclusive scenic beauty. The city’s income and economy mostly depend on tourism. The cheapest house one can find here is around $149,900. A family’s average income in the city is approximately $61,950.

34. Magog, Quebec

Located in the eastern part of the province, Magog has a population of just over 21,000 people. Magog, originally a textile manufacturing town for many generations, has seen an influx of tourists due to its beautiful scenery and vibrant downtown area. The main plant still manufactures pillows but not as much compared with how it used to be previously.

The cost of living in Magog is 8.6% lower than the national average, and the city has a wide range of affordable housing options. The cheapest house one can find here will be around $219,000. A family’s average income in the city is roughly $61,670.

35. Windsor, Ontario

If you are looking for a unique Canadian destination, look no further than Windsor. This southernmost city in Ontario is home to a variety of industries, making it a lucrative place to live that lets you save immensely.

The economy is diverse and thriving, with manufacturing at its core alongside many other industries like tourism or education that offer plenty of job opportunities. The cheapest house one can find in this city will be around $189,900. A family’s average income in the city is around $68,689.

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36. Rimouski, Quebec

Rimouski is a city in the province of Quebec with over 49 thousand inhabitants and is home to an internationally renowned university. The maritime sector is an important industry in the city.

Another significant employer of the city is the regional hospital, which employs 2200 people within healthcare services, while other sections involve engineering or information technologies departments too. The most affordable house that can be found in the city is around $179,000. A family’s average yearly income in the city is about $61,670.

37. Timmins, Ontario

Whether you’re looking for an action-packed adventure or some time away from the hustle and bustles of city life, there are plenty of things in Timmins that will suit your needs. It is a popular destination among tourists who come to experience winter sports like snowmobiling with its vast trail system designed specifically by Canadians.

The town has a lot more to offer. The city majorly depends on industrial sectors like mining gold, nickel, silver, copper, and lumbering. The average annual family income in the city is around $66,885. The most affordable house that can be found in the city is about $145,000.

38. Sault Ste. Marie, Ontario

Sault Ste. Marie, Ontario is a Canadian city close to the US border, with over 73000 residents. It is known for Algoma Steel. The company has over 3500 employers. At the same time, the Ontario Lottery & Gaming Corporation or OLGC has 900 employees onsite.

With around 73,000 residents, the city has the lowest housing costs in the country, with an average monthly one-bedroom rent of just $950. The most affordable house that can be found in the city is around $125,500. The average annual family income in the city is roughly $66,885.

39. Salaberry-de-Valleyfield, Quebec

Salaberry-de-Valleyfield, Quebec, is one of the cheapest places to live in Canada. The cost of living here is nearly 20% lower than the Canadian average, and the average rent for a one-bedroom apartment is just $685 per month.

Salaberry-de-Valleyfield is also a great place to raise a family, as it has some of the lowest crime rates in the country. The average annual income of a family in the city is about $65,733. The cheapest house one can find in the city is around $199,000.

40. Halifax, NS

Being a major economic center, the city of Halifax provides different job opportunities in government services and private companies, making it an excellent place to settle down. The cost of living is lower than in most other cities.

This city is a great place to live for families and singles, with a lot of entertainment and dining options. Several post-secondary institutions can be found in the city, making it a wonderful place to advance your education. The average income of a family in the town is around $69,553. The cheapest home one can find in the city is approximately $406,000.

41. Gatineau, Quebec

It is one of the largest cities in Quebec. Over 265,000 people reside here. The metropolitan area has two major hospitals and several provincial colleges.

This charming city offers residents a low cost of living, access to affordable housing, and a host of other amenities that make it an attractive option for budget-minded individuals and families.

Gatineau is located just across the river from Ottawa, making it a convenient option for those working in the nation’s capital but enjoying a more affordable lifestyle. The cheapest home one can find in the city is around $199,900. The average income of a family in the city is approximately $66,845.

If you are looking for a place to call home that offers affordability and plenty of opportunities, look no further than Canada. We hope you enjoyed this list of the cheapest places to live in Canada and now it is up to you to decide where to go. Canada is full of cities that offer residents a high quality of life without breaking the bank. And while there are many great places to choose from, we believe Moncton, with its vibrant beauty, is the best option for those on a tight budget. Stay with us for more such blogs. Thanks for reading!

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Sushma is a full-time blogger and financial expert. Join Sushma and 10,000 monthly readers here to learn how to save and invest your money wisely.

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