Canada is known for its breathtaking landscapes, high quality of life, and friendly communities. But when it comes to affordability, some cities offer a much lower cost of living than others.
If you’re looking for the cheapest place to live in Canada, you’ll want to consider factors like housing prices, groceries, transportation, and overall affordability.
Here, we’ll explore the most budget-friendly cities in Canada based on average rent, home prices, and living expenses to help you make an informed decision.
What Makes a City Affordable?
Before diving into the list, let’s break down the key factors that make a city affordable:
- Housing Costs: Rent and home prices play a huge role in affordability.
- Cost of Groceries & Essentials: Lower everyday expenses mean more money in your pocket.
- Transportation Expenses: Public transit, gas prices, and commute costs add up.
- Job Opportunities & Wages: A low cost of living is even better when paired with good job opportunities.
Some of the Most Affordable Cities in Canada!
Sherbrooke, Quebec
Sherbrooke is a beautiful and lively city with a low cost of living compared to larger cities like Montreal. Home to a thriving student population and a mix of French and English culture, it offers a charming lifestyle without the high price tag.
Why Sherbrooke?
- Affordable Housing: The average rent for a one-bedroom apartment is $900–$1,100, while a two-bedroom costs around $1,200–$1,400.
- Lower Everyday Expenses: Grocery and utility costs are below the national average.
- Education & Community: Home to Bishop’s University and Université de Sherbrooke.
If you love a city with a European vibe, friendly communities, and easy access to nature, Sherbrooke might be the cheapest place to live in Canada for you.
Trois-Rivières, Québec
Another hidden gem in Quebec, Trois-Rivières, is a small city with big savings. Located halfway between Montreal and Quebec City, it offers a relaxed lifestyle with plenty of amenities.
Why Trois-Rivières?
- Low Rent & Housing Prices: A one-bedroom apartment averages around $850–$1,000, while a two-bedroom costs $1,100–$1,300.
- Affordable Dining & Entertainment: Restaurants and attractions are much cheaper than in larger cities.
- Access to Culture & History: The city is rich in French-Canadian culture, making it a unique place to live.
If you’re looking for the cheapest place to live in Canada with a strong sense of community and an affordable lifestyle, Trois-Rivières is a great choice.
Moncton, New Brunswick
Moncton is one of the most affordable cities in Atlantic Canada, and it’s growing fast. With a low unemployment rate and a welcoming atmosphere, it’s perfect for anyone looking to settle down without breaking the bank.
Why Moncton?
- Budget-Friendly Housing: The average rent is around $1,000–$1,200 for a one-bedroom and $1,300–$1,500 for a two-bedroom apartment.
- Strong Job Market: Unemployment rate is 5.6% (2024), one of the lowest in Atlantic Canada.
- Affordable Transportation: Public transit is 30–50% cheaper compared to Toronto.
Moncton offers the best of both worlds—affordability and economic growth—making it a great pick for those looking for the cheapest place to live in Canada.
Saint John, New Brunswick
Saint John is another top contender for affordability in Canada. As one of the oldest cities in the country, it boasts historic charm, ocean views, and low living costs.
Why Saint John?
- Low Housing Costs: Rent prices are around $900–$1,100 per month for a one-bedroom.
- Affordable Lifestyle: Dining, groceries, and utilities are 20% lower than in Toronto.
- Scenic Beauty: Living near the Bay of Fundy offers plenty of outdoor activities at no cost.
If you love coastal living without the high costs, Saint John is a great option!
Thunder Bay, Ontario
Thunder Bay is an underrated city that offers affordable living in Ontario, a province known for its high housing prices. This northern city provides a peaceful lifestyle with plenty of job opportunities.
Why Thunder Bay?
- Affordable Rent & Home Prices: The average rent for a one-bedroom apartment is $1,100–$1,300, while home prices average $300,000–$350,000.
- Strong Job Market: Opportunities in healthcare, education, and transportation.
- Quality of Life: A slower pace of life and access to beautiful natural areas make it a great place to live.
For those looking to live in Ontario without paying Toronto’s sky-high prices, Thunder Bay is a fantastic choice.
Winnipeg, Manitoba
Winnipeg is often ranked as one of the most budget-friendly big cities in Canada. Despite being a provincial capital, it remains affordable for residents.
Why Winnipeg?
- Low Cost of Living: Rent averages around $1,200–$1,500 for a one-bedroom apartment.
- Diverse Job Market: Opportunities in technology, healthcare, and finance.
- Great Arts & Culture Scene: Museums, music, and theater are abundant and affordable.
If you want big-city amenities without the big-city price tag, Winnipeg could be your ideal cheapest place to live in Canada.
Edmonton, Alberta
While Calgary is often thought of as Alberta’s top city, Edmonton offers a more affordable alternative. Known as “Canada’s Festival City,” it has a vibrant arts scene and a lower cost of living.
Why Edmonton?
- Lower Home Prices: The average home price is $370,000, much cheaper than in Toronto or Vancouver.
- No Provincial Sales Tax: Alberta doesn’t have a PST, saving you money on every purchase.
- Affordable Education: The University of Alberta offers great programs at reasonable tuition rates.
For those who want an urban lifestyle without the extreme cost, Edmonton is an excellent option.
Finding the Cheapest Place to Live in Canada
Canada has plenty of affordable cities that offer a great quality of life without the financial strain. Whether you’re looking for small-town charm, coastal living, or a growing urban center, there’s a place for you.
Top Picks for Affordability:
- Best for Students: Sherbrooke, QC
- Best for Job Opportunities: Moncton, NB
- Best for Outdoor Lovers: Thunder Bay, ON
- Best for Big-City Living: Winnipeg, MB
No matter which city you choose, moving can still be a big expense. If you’re planning a relocation, you’ll want to find expert moving services for every budget to keep your costs down while ensuring a smooth transition.
If you’re ready to make the move to one of these affordable cities, start planning today. Finding the cheapest place to live in Canada is just the first step—making it feel like home is the next!
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