10 Cheapest Places to Live in Canada

Updated On April 24, 2024

When it comes to the cheapest places to live in Canada, the eastern half of the country includes most of the affordable places.

More than 80% of the population of Canada lives in proximity to the American border and this is not one of the cheapest places to live.

In simple terms, staying away from the US border will lower the cost of accommodation and just about everything else as well.

Cheapest Places to Live in Canada

Newfoundland –

1. Newfoundland and Labrador

Newfoundland and Labrador is the farthest east of Canada’s provinces.

Newfoundland is an island and Labrador is the mainland area.

It combines rugged natural beauty with affordability.

St John’s, the capital of the province, offers a lively atmosphere where fishing has been the main industry for 350 years.

With a population of 109,000 and 26 diverse neighborhoods, it is an attractive place to live a good life without breaking the bank.

Historic villages, like Brigus and Cupids, celebrate a yearly blueberry festival and are an affordable alternative for those looking for a place to call home in Canada.

Edmunston, NB
Edmundston, NB

2. Edmundston, NB

Edmundston is one of the most affordable places to live in all of Canada.

It is located on the border with Quebec and is an easy drive to Maine.

Edmunston has a provincial park, Parc de la Republique, with camping and lots of other activities.

It is home to the New Brunswick Botanical Gardens.

Low crime, a peaceful environment, and a college town vibe are all attractions.

Edmunston is the sister city of Madawaska, ME.

The city rocks the first weekend of August for the Festival Royal.

French is the prevalent language in this city, originally settled by Acadians.

Sudbury, ON
Sudbury, ON

3. Sudbury, ON

Ontario is the most populous of the Canadian provinces and when it comes to affordability, it is usually not at the top of anyone’s list.

Sudbury is a city with a population of over 160,000 and is one of the most affordable large cities in Canada.

If you are looking for a multicultural place to live, six percent of the population identifies as First Nation and Sudbury has a large French-speaking population.

Known as the City of Lakes, it is located 260 miles northwest of Toronto.

Sudbury is a popular place to buy a year-round or vacation home and has a strong rental market.

Fort McMurray, AB
Fort McMurray, AB

4. Fort McMurray, AB

Fort McMurray/Wood Buffalo is the second most affordable place to live in Canada.

Located in the northeast of Alberta, about 450 miles northeast of Calgary.

Surrounded by the great outdoors, fishing is a popular pastime in both summer and winter.

Many diverse neighborhoods provide opportunities to find the perfect place to call home.

Rivers Casino & Entertainment Centre offers Vegas-style entertainment, food, and games of chance.

Within an easy drive of four provincial parks that offer a variety of outdoor activities.

The Metis Fest takes place yearly in late May and offers culture, food, and heritage.

Saguenay, QC
Saguenay, QC

5. Saguenay, QC

Saguenay was formed in 2002 when Chicoutimi merged with Jonquière.

Saguenay is a frequent stop for cruise ships on the St. Lawrence River.

Saguenay has a 62-mile-long fjord and is located 120 miles north of Quebec City.

Lac St Jean is nearby and is a very large lake with plenty of recreational activities.

Whale sightings are a popular activity in the fjord.

Knowing at least a little French is vital as the majority of the population is French-speaking.

Wild blueberries are a major crop in the area.

The area is known as the “Valley of Aluminum” due to major production in the area.

Truro, NS
Truro, NS

6. Truro, NS

Truro is known as the”Hub of Nova Scotia”.

It offers all the benefits of small-town living with easy access to Halifax.

Truro Farmer’s Market is open on Saturday mornings from 9 am to 1 pm year-round.

Truro has a colorful and vital downtown with restaurants and shops.

Truro is named after the English city in Cornwall called Truro.

Truro is famous for its Winter Long John Festival and is the historic home of the Long John.

Homes are affordable and short and long-term rentals are available.

The largest employers in the area are in the field of textiles and plastics.

The Rural Municipality of Springfield, MB
The Rural Municipality of Springfield, MB

7. The Rural Municipality of Springfield, MB

A rural suburb of Winnipeg, it is composed of several small towns and is a great place to live.

Job opportunities in Winnipeg and locally provide great employment potential.

Two provincial parks make Springfield a magnet for outdoor lovers.

Quaint small towns with all the cultural amenities of nearby Winnipeg.

The Springfield County Fair has been a big attraction in July yearly for more than 135 years.

Affordable homes and apartments, including 55+, make this a prime choice for retirees.

Tinkertown in Springfield is a child-friendly amusement and splash park.

Regina, SK
Regina, SK

8. Regina, SK

Regina is the capital of Saskatchewan and no other capital city in Canada has more sunshine.

It has been listed among the most affordable cities to live in and Saskatchewan as a whole is recognized for its affordability.

Regina has four seasons.

You can enjoy warm summer days paddle boarding on Wascana Lake.

Cold winters offer ice skating on the many outdoor rinks.

Regina is a business-friendly place to live and has great opportunities for entrepreneurs.

As well as being affordable, Regina has a vibrant arts and culture scene.

Thousands flock to the Cathedral Village Arts Festival every May.

Abbotsford, BC
Abbotsford, BC

9. Abbotsford, BC

Cheapest is a relative word and when it comes to British Columbia, Abbotsford is absolutely one of the cheapest places to live.

Real estate is 11 % cheaper than the national average and a stunning 81 % less than the average in British Columbia.

Abbotsford is a farming community that also offers plenty of job opportunities in other industrial sectors.

Located in the Fraser Valley, residents have easy access to the stunning Cascade Mountains for hiking, biking, and camping.

Cavendish, PEI
Cavendish, PEI

10. Cavendish, PEI

Cavendish is a popular small town that gets busy during the tourist season.

It has a stunning, five-mile-long beach that is a Canadian National Park.

The National Park also includes Green Gables, the inspiration for the Anne of Green Gables novels by Lucy Montgomery.

Lobster lovers will live in paradise enjoying lobster suppers from one end of the island to the other.

Tourism and agriculture are the main employers.

Cavendish is a small, tranquil, safe, family-friendly, affordable place to live.

PEI has easy year-round access to New Brunswick on the Confederation Bridge.

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Frequently Asked Questions

What makes Prince Edward Island such a great place to live?

Prince Edward Island has the lowest population in Canada.

The population is English-speaking and the crime rate is very low.

With the building of the Confederation Bridge to New Brunswick, the population is no longer separated from the mainland.

What is not to love about a place where you are surrounded by picturesque villages and lobster dinners?

Do you need to speak French to live in Quebec?

The simple answer is no, not if you choose a large metropolitan area like Montreal.

But if you are choosing a more rural area, the majority of residents are French speakers, and they want to preserve their culture.

Learning a few basic phrases will endear you to the locals and make assimilating easier.

Being respectful of their diversity is what makes Quebec a great option for a new home in a new country.

With the difference in the exchange rate with the American dollar, is Canada more affordable for Americans?

The exchange rate between the American dollar and the Canadian dollar fluctuates.

Currently, it is very friendly to Americans and makes choosing to live in Canada an affordable option.

Home prices vary greatly from one area to another, but you can expect to get a good return on your American dollar.

You will need to make arrangements to stay more than six months in Canada if you are an American.

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