Real Estate
Top 15 Most Affordable Cities in Canada, According To Royal LePage
Photography, @quebeccite, Instagram
Real Estate
Top 15 Most Affordable Cities in Canada, According To Royal LePage
A recent survey by Royal LePage reveals that half of the residents in Canada’s largest urban centres are considering moving to more affordable areas.
High living costs, soaring home prices, and elevated interest rates are pushing almost 50% of Toronto, Montreal, and Vancouver residents to think about relocating, according to the report.
Want to know where they're thinking of going? Here are the 15 most affordable cities in Canada:
- Thunder Bay
- Saint John
- Red Deer
- Trois-Rivières
- Regina
- Saskatoon
- Windsor
- Sherbrooke
- Moncton
- Sudbury
- St. John’s
- Charlottetown
- Quebec City
- Winnipeg
- Lethbridge
Key motivations for a potential move include a lower cost of living (57%), proximity to nature (41%), and a more relaxed lifestyle (40%). This trend is particularly strong among renters (60%) compared to homeowners (45%).
Cities like Thunder Bay, Saint John, and Red Deer are among the most affordable in Canada, requiring only 22.2% to 28.9% of household income for mortgage payments. Remote work is making it easier than ever to pursue homeownership in more budget-friendly locations without the constraint of proximity to workplaces.
Karen Yolevski, COO of Royal LePage Real Estate Services Ltd., emphasizes that many aspiring homeowners are considering these relocations to overcome the barriers of high-cost urban living and gain a foothold in the property market.
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