With many major Canadian cities still experiencing sky-high housing prices, many Canadians may have the urge to think outside the box and move to a city that is less harsh on their wallets. To illustrate the problem, we can look at the city of Toronto. According to WOWA, while the average home price in Toronto has decreased 2.2% from last year, the average price of a detached home has slightly increased at about 0.2% from last year. The biggest change in Toronto was seen in the freehold townhouse property type, where prices have dropped 4.2% from last year, showing a bit of positive news compared to the city in general. With these prices largely remaining the same, some Canadians may find relief in Canada’s other cities. Today, let’s talk about which areas of the country will cost you less in housing.<img class="image_resized image-style-align-right" style="width:44.95%;" src="https://files.rifo.co/CompanySite/173/173_image.png">In general, less people are buying houses. According to WOWA, the number of monthly transactions has decreased 10% since last month and about 4% since this time last year. The average house price is down 0.3% since last month and 3.3% since last year.This map from WOWA shows housing data across Canada, highlighting the most and least expensive provinces, shaded in red and blue respectively. As predicted the most expensive provinces are BC, Ontario, and Quebec, and the least expensive are Saskatchewan, Newfoundland, New Brunswick, and Manitoba, with Alberta being a middle-ground province.&nbsp;The least expensive province, and arguably one of the most beautiful provinces, is Newfoundland, with an average home price of about $310k. The average price has been steadily decreasing. The most expensive province is British Columbia, with a shocking average house price of about $964k.&nbsp;The house prices in Alberta are quickly skyrocketing, an unfortunate pattern that seems province-wide. Both Red Deer and Lethbridge experienced a 14% increase in average home prices annually. Calgary increased by 6.3% and Edmonton increased by just under 10%. For being a province that seemed to be welcoming in many housing refugees from expensive provinces like Ontario and BC, the increase in Alberta is disappointing. Mortgage Sandbox attributes this change to rapid population increases, investor interest, and short supply.&nbsp;Immigration.ca lists 15 of the most affordable Canadian cities. In order, they are Thunder Bay, Ontario; Saint John, New Brunswick; Red Deer, Alberta; Trois Rivieres, Quebec; Edmonton, Alberta; Regina, Saskatchewan; St. John’s, Newfoundland; Quebec City, Quebec; Sherbrooke, Quebec; Winnipeg, Manitoba; Fredericton, New Brunswick; Saskatoon, Saskatchewan; Windsor, Ontario; Charlottetown, PEI; and Gatineau, Quebec. Zero British Columbia cities made the list and only two Ontario cities made the list.&nbsp;In terms of rentals, Nesto lists some of the most affordable cities. The top most affordable city on their list is Regina, Saskatchewan, with an average monthly rent price of $1,314. Winnipeg is also a top contender for cheaper rent, with a price of $1,604 monthly. In Ontario, they mention Windsor, Ontario, with a monthly rent price of $1,645. 7 and 8 on the list are also both Ontario cities, with St. Catherines and Kingston, Ontario making the cut at $1,860 and $1,907 respectively. Calgary, Alberta is at spot 10, one spot less affordable than Hamilton, Ontario with an average price of $1,925. Nesto describes Calgary as one of Canada’s fastest growing cities. While Calgary is still considered more affordable by Ontario and BC standards, it seems the prices are increasing at a rate many Canadians are not used to seeing.&nbsp;To gain access to more affordable housing in this country, it seems like Ontario and British Columbia homebuyers need to move outside their comfort zone and into another province. That said, there are good reasons that Ontario and British Columbia are ranked where they are. For many, these places are the where you want to be. Housing affordability also has to consider the income earning potential of the area This said, a shift in focus that favours balance and affordability, may cause people to broaden their search areas.

Canada’s Bargain Cities in 2025

Explore Canada's most affordable cities for housing, from Newfoundland to Saskatchewan, and discover where to find budget-friendly homes and rentals.

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