The Cheapest Places to Live in Canada in 2025

A young couple hanging out together, drinking coffee on the front steps of their home, relaxing and conversing. — Getty Images

For some, buying their own home is still the dream. Affording one, however, remains a problem. With an unsteady political climate, fluctuating markets, and high home prices to contend with, affordability is a universal problem. Rental units aren’t much better, with steep prices in major cities that are driving families to live together for longer.

The good news is that some places in Canada are still cheaper to live than others. If you’re looking to purchase a property in 2025 and are willing to relocate somewhere with more affordable accommodations, online mortgage company Nesto has released a report of the most affordable cities to live.

The company combined stats from the Globe and Mail’s most liveable cities list and the Rentals.ca national rent report. In the end, it considered average home prices, rental rates and overall household incomes to determine affordability.

If you’re ready to take the real estate plunge or get into your own rental, here are the cheapest places to live right now.

Main street in Trois Rivieres, Quebec, Canada — Getty Images

Where Are the Cheapest Cities to Buy in Canada in 2025?

It may be time to brush up on your French. Because according to the rankings, Quebec is the most affordable province overall. Eight of the top 10 affordable home-buying cities were located in the French province, with New Brunswick cities coming in second.

Rivière-du-Loup, QC — $294,955 average home price to an average household income of $70,894
Tracadie, NB — $148,620 average home price to an average household income of $67,547
Thetford Mines, QC — $196,537 average home price to an average household income of $64,231
Sainte-Marie, QC — $306,957 average home price to an average household income of $87,119
Alma, QC — $271,142 average home price to an average household income of $74,485
Bathurst, NB — $191,402 average home price to an average household income of $61,797
Rimouski, QC — $298,714 average home price to an average household income of $72,435
Victoriaville, QC — $297,150 average home price to an average household income of $68,269
Dolbeau-Mistassini, QC — $219,932 average home price to an average household income of $68,175
Rouyn-Noranda, QC — $316,351 average home price to an average household income of $82,859

A Scene of Regina, Canada downtown. Capital city of the Canadian Province of Saskatchewan — Getty Images

Where Are the Cheapest Cities to Rent in Canada in 2025?

If you’re looking to rent, there are affordable options across the other provinces. Saskatchewan, Alberta, Ontario and Manitoba all made the list. There are some bigger cities on there, which is a nice option for renters who want to live surrounded by those busy city vibes and easier commutes.

Regina, SK — $1,314 average monthly rent to an average household income of $106,546
Saskatoon, SK — $1,367 average monthly rent to an average household income of $100,909
Edmonton, AB — $1,529 average monthly rent to an average household income of $92,276
Winnipeg, MB — $1,604 average monthly rent to an average household income of $85,831
Windsor, ON — $1,645 average monthly rent to an average household income of $74,109
Quebec City, QC — $1,669 average monthly rent to an average household income of $81,778
St. Catharines, ON — $1,860 average monthly rent to an average household income of $79,640
Kingston, ON — $1,907 average monthly rent to an average household income of $89,158
Hamilton, ON — $1,916 average monthly rent to an average household income of $95,095
Calgary, AB — $1,925 average monthly rent to an average household income of $101,588

McCallum is one of the the few communities on the south coast of Newfoundland. It is accessible by a two hour ferry ride)) from Hermitage. There are no roads in the town, but boardwalks suitable for ATV traffic are present.Fishery was the way of life for over a century here and at one point the population was over 100 people. Currently the population of the town is decreasing, with about 42 permanent residents and 4 kids in the school. The community recently voted for Resettlement. While most residents want to leave, McCallum needs 90 per cent of votes in order to get financial help from the government. It is a very quiet and peaceful place where you can feel an old rhythm of life, something that is more and more hard to find in our modern world. It is great to see that places like this still exist, and I hope it will remain in the future. — Getty Images

Where Are the Cheapest Provinces to Live in Canada in 2025?

While the Nesto report considered average household income in its rankings, another report by MovingWaldo listed the most affordable provinces to live while considering the overall quality of life. So, if your income remains steady no matter where you settle, here are the five cheapest provinces to live this year.

Newfoundland and Labrador

$2,411.87 average cost of monthly living

$845 average monthly rent for a one-bedroom apartment

$297,000 average property buying cost

New Brunswick

$2,341.21 average cost of monthly living

$1,274 average monthly rent for a one-bedroom apartment

$308,800 average property buying cost

Saskatchewan

$2,531.25 average cost of monthly living

$1,228 average monthly rent for a one-bedroom apartment

$344,800 average property buying cost

Manitoba

$2,696.70 average cost of monthly living

$1,381 average monthly rent for a one-bedroom apartment

$376,770 average property buying cost

Prince Edward Island

$2,718.14 average cost of monthly living

$850 average monthly rent for a one-bedroom apartment

$365,600 average property buying cost

Where Are the Most Expensive Places to Live in Canada in 2025?

On the other side of this conversation, where are the most expensive places to live? According to Canadian Real Estate Magazine, they include British Columbia, Ontario and Yukon.

British Columbia’s average condo price is $650,000, while a typical three‐bedroom house goes for an average of $1,250,000. It’s a similar story in Ontario, where condos average $600,000 and three-bedroom homes are roughly $1,100,000. In Yukon, condos go for $620,000. Meanwhile, home prices are increasing, but are currently valued around $700,000.