14 Cheapest Places to Live in Canada in 2024

14 Cheapest Places to Live in Canada in 2024

Many people have been wanting to live in Canada. Almost every city is surrounded by the beauty of nature, attracting outdoor lovers. There are also many job opportunities in Canada, which makes it enticing for job-seekers.

However, living in some Canadian cities can be very expensive. You must do your due diligence to find the cheapest places to live in Canada.

Where is the cheapest place to live in Canada?

There are many places that offer a low cost of living in Canada. However, each place still has its pros and cons. It is up to you to decide which of these places suits your lifestyle goals.

It is also important for you to know if the activities in the area are something that you would enjoy. For instance, some cities in Canada are much colder than others and would offer you cold-weather activities. If you do not like this kind of weather, then you would need to look for the warmest and cheapest place to live in Canada instead.

Some areas are kid-friendly and are perfect for starting families, while others appeal to working singles and young couples.

The cost of living is not enough. You should also consider the quality of life a city can give you. Therefore, you should make sure that you find the perfect city that suits your lifestyle goals.

It can be a bit daunting to find the cheapest place to live in Canada while still keeping comfort and quality of life in mind. Hopefully, this list of places can help you find what you are looking for in Canada.

moose jaw - comparewise

14. Moose Jaw, SK

Moose Jaw is considered the cheapest place to live in Canada, due to its low cost of living. With a population of under 34,000 individuals, residents can say that it is a small and tranquil town.

One of the reasons why immigrants love Moose Jaw is because one can have a high standard of living while the area is very affordable. The city’s economic development is largely attributed to companies providing a prime housing workforce, which is very cost-efficient.

Therefore, families can have peace of mind to live comfortably without stressing out too much about financial expenses.

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The place is famous for NATO’s world-class flight training school. It is also home to Canada’s renowned aerobatic flight squad, the Snowbirds, which is known to compete with the Blue Angels of the USA.

Despite being recognized primarily for its military presence, the city features a local casino and an advanced geothermal spa, both of which attract a considerable amount of local tourism.

Moose Jaw offers an array of enjoyable leisure activities, whether you are single or have a family. Notable attractions include the CFB airshow, the Wakamow Valley, and the extensive Saskatchewan Festival of Words.

For sports lovers, the city boasts various amenities, such as swimming pools, gyms, water parks, tennis courts, and playgrounds that provide convenient and cost-effective means of relaxation.

charlottetown pei - comparewise

13. Charlottetown, PEI

Charlottetown is the cheapest place to live in Canada for families with kids. The place has a low cost of living even though it is constantly undergoing a lot of redevelopment projects.

You can find a great home for your family for as low as $200,000! However, this depends on the location and the number of rooms you require.

Another thing that makes it the cheapest place to live in Canada is its cheaper products and lower bills.

The place has many local farmers everywhere, so even a person earning a minimum wage can live comfortably. The popular industries in Charlottetown are the agriculture and fishing sectors. Therefore, the affordability of food can be seen in the prices of poultry, meat, dairy products, potatoes, and other produce.

However, you must consider the fact that costs can rise during winter as the city begins to import items. Nevertheless, it is still the cheapest place to live in Canada.

Charlottetown is also one of the best places to live in Canada for families to live in. As the capital city of Prince Edward Island, it has been known to be one of the safest cities in Canada. This place is perfect for raising kids.

It is also the cheapest place to live in Canada for working singles. The most popular jobs in this city are social services, healthcare, educational sectors, and government roles.

But recently, technology and manufacturing companies have started to emerge in the area. This gives better job opportunities for those who are looking to migrate here.  

Saskatoon - comparewise

12. Saskatoon, SK

One of the cheapest places in Canada to live in is Saskatoon. The cost of living in Saskatoon is lower compared to other Canadian cities. House prices, rent, and mortgages are all cheaper, so it is much easier to find the perfect home.

The average two-bedroom apartment in the city would only cost $1,000 monthly, which is less expensive than in other areas. If you would choose to live in Vancouver, your rent would more than double that amount.

Aside from cheaper homes, the city gives families a favourable lifestyle. A family of four can live on a monthly basis by spending $800 on groceries in Saskatoon. Meanwhile, a family with the same number of members would spend over $1,200 for monthly groceries in Toronto.

Although it is one of the cheapest places to live in Canada, you can rest assured that it does not compromise on the quality of life.

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Communal living is popular here, and the neighbourhood is warm and welcoming. You would have no problems building deeper friendships with your community.

The place also has public sports grounds, playgrounds, and public parks for outdoor lovers. Their food is also fantastic, with weekly farmers’ markets featuring the best produce.

The place also hosts festivals like Shakespeare, comedy, music, and agricultural events.

And the best part is, you do not have to own a car because all the amenities are close by. The transportation is also amazing as it can reach just about everywhere you need to go!

If commuting is a part of your lifestyle, you would save on gas and the additional expenses of owning a car. This, indeed, makes Saskatoon one of the cheapest places to live in Canada.

prince edward island - comparewise

11. Summerside, Prince Edward Island

Prince Edward Island, which is known for its stunning sandy beaches, is one of the Maritime Provinces of Canada. Residents enjoy warm weather in July and August, where the water temperature is at around 20 degrees Celsius—the perfect temperature to swim!

This place is also the cheapest place to live in Canada for those who love bicycling. The Confederation Trail is the best trail for all cyclists, whether you are an experienced biker or a beginner.

There are many jobs in demand on the island, with most of them relevant to hospitality, fishing, farming, and trades. Other sectors that are expanding are IT, aerospace, biotech, fisheries, and agriculture. Therefore, this place presents a lot of job opportunities for job seekers, whether you are experienced or just starting out in your career.

Prince Edward Island is one of the cheapest places to live in Canada for families who are raising kids due to its good reputation for safety.

For instance, the island has been included in the top 3 safest provinces in Canada. And as for schools, the place boasts plenty of decent schools as well as family-friendly activities. This gives parents peace of mind, knowing that their kids are in great hands.

Although this is one of the cheapest places to live in Canada, the only downside is that Prince Edward Island is one of the most rural provinces in Canada, so you must expect life to be quite more old-fashioned compared to other provinces.

So, if you love the vibe of huge cities, Prince Edward Island cannot give it to you—this is something you might want to consider before moving here.

cape breton nova scotia - comparewise

10. Cape Breton, NS

Cape Breton is considered one of the cheapest places to live in Canada because of its low cost of living, allowing you to live your life to the full. The house prices are much cheaper than in any other place in Canada, and the taxes are pretty reasonable, too.

The grocery and utility bills are also less expensive, allowing you to save enough money for rainy days. Even seafood, which is considered costly in other places, is cheap in Cape Breton, making it one of the cheapest places to live in Canada.

However, the downside is that the heating costs can be a bit expensive. Meat and dairy are costly, but that is because such items are exported. But aside from that, there is nothing else that you should worry about.

Cape Breton is also the cheapest place to live in Canada for families who want to raise their kids in a safe environment. Although the schools and colleges here are much smaller than other prestigious education facilities, they teach children good values.

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Since the classes in Cape Breton schools are much smaller in size, kids in Cape Breton make meaningful connections with their teachers and other students. Therefore, these schools provide kids with a sense of community and belongingness.

Kids and teenagers will never get bored in Cape Breton. There are a lot of youth programs that promote theatre productions, art and music, naturalist programs, and more.

As for outdoor lovers, Cape Breton is paradise. Residents can paddle, cycle, hike, and ski. Everyone can enjoy the beautiful scenery and fresh air while mingling with other people during annual social outings. These include North River Kayaking, Coxheath Mountain Trails, and Ski Tuonela, just to name a few.

Nanaimo bc - comparewise

9. Nanaimo, BC

Nanaimo is one of the cheapest places to live in Canada. Located on Vancouver Island in British Columbia, it has a population of 103,071, with its residents mainly relying on forestry, coal, and government sectors.

The cost of living can be as low as $1,260, that is, without the rent. For families who want to buy houses, the average price would be $769,700.

Meanwhile, working singles and young couples who want to rent apartments could find a room for about $1,200. Residents can live comfortably in the area just by securing a job that can pay them $37,050 annually.

This place is the cheapest place to live in Canada for people who enjoy nature and outdoor activities. Some of the best things to do in Nanaimo are kayaking, fishing, biking, hiking, and more. This place allows you to live in peace, away from the bustling noise of busy cities.

As for its weather, Nanaimo is known for having one of the most temperate climates in the entire Canada. Winter months only experience an average temperature of 8 degrees Celsius. However, snow is not as common and also melts very quickly. You would be surprised to know that Nanaimo locals do not use snow tires, unlike other Canadian cities.

During the summer season, the temperature rarely rises above 28 degrees Celsius. This lasts from May until September. Meanwhile, expect rainfall from October through April.

hamilton ontario what is the cheapest palce to live in canada - comparewise

8. Hamilton, ON

Hamilton is the cheapest place to live in Canada for people who want easy access to Toronto. Perhaps you have found work in Toronto but do not want to live there due to its high cost of living. Then, Hamilton is the perfect place for you.

This city is just 70 km away from Toronto. You do not need a car to get to Toronto, thanks to the many public transport links that go into the city. Therefore, it is possible to live and rent in Hamilton while still enjoying all the things you can find in Toronto.

The living cost in Hamilton is approximately $1,820 every month. This is not bad compared to the other bigger Canadian cities.

Although there has been an increase in rental prices, they are still 25% lower in Hamilton. This might be the cheapest place to live in Canada for people looking to live in a smaller city.

For outdoor adventures, residents can easily access a lakeside location as well as Niagara Falls on the US border. This should be a memorable day trip for you if you ever decide to migrate to Hamilton.

One downside of living in the city is the weather. If you love warm weather, then Hamilton is the perfect place as it can get as high as 22 degrees Celsius in July. However, this warmth could quickly worsen as the humidity kicks in. Therefore, you should consider investing in air conditioning to get you through from June to September.

So, although Hamilton is one of the cheapest places to live in Canada, air-conditioning bills might get higher in the summer months.

abbotsford bc canada cheapest place to live - comparewise

7. Abbotsford, BC

Abbotsford is a stunning city situated in British Columbia. The place gives residents a quality of life while still living up to its reputation as one of the cheapest places to live in Canada.

Although Abbotsford is a large city, the cost of living is relatively low. Moreover, it gives people that tight-knit feeling of being in a small, friendly community. This is perhaps one of the most beautiful things living in the area.

To live a comfortable life in Abbotsford, you must be earning at least $1,120 every month—that is if you are not paying any rent.

Meanwhile, houses could cost you $1,100,000 million on average, while rent would usually cost $1,540 every month. The average annual income of residents is $72,500 more or less.

Abbotsford is also the cheapest place to live in Canada for families who have kids to send to school. There are a lot of education options that would suit the needs of each student, no matter their age. In fact, families have more than 46 public schools to choose from.

Life in Abbotsford is never boring because it provides a lot of green spaces for nature lovers. If you are not that type of person, you can find many parks and recreation facilities here, including shopping malls and restaurants.

lethbridge AB - comparewise

6. Lethbridge, AB

Lethbridge is a cheap city in Canada located in southern Alberta.

The city is known for many job opportunities, including career growth in education, hospitality, retail, healthcare, and agriculture industries.

The city is affordable and is the cheapest place in Canada to migrate to. Without the rent in your expenses, you can live a comfortable life with just $1,300.

The house pricing in Lethbridge is also very reasonable. Houses usually cost $357,000. Meanwhile, the renting properties can go as low as $865 monthly. Residents in this city usually have an average annual income totalling $75,000.

Families with kids can put their faith in Lethbridge’s strong education system. There is a wide range of academic options for each child. Parents can put their kids in private, public, Catholic, or French language schools. There are also childcare programs and daycare facilities for younger children.

Lethbridge offers a lot of things to do so you are never bored. You can go to restaurants, parks, shopping malls, golf courses, and green parks. In fact, Lethbridge has 16% of its city as a parkland that residents can enjoy!

Moreover, the city allows residents to easily access the Rocky Mountains, making it the cheapest place to live in Canada for outdoor lovers.

new brunswick warmest and cheapest place to live in canada - comparewise

5. New Brunswick

New Brunswick is a cheap place in Canada to live in for families with kids. Just like big cities, this place offers a lot of amenities. You will never feel bored, too, thanks to its warm small-town communities.

The average house pricing in the area is around $293,000, while apartment rent could cost you $1,100. It is also a cheap place in Canada where you spend a fair amount of money for bills and groceries.

What’s best about living in New Brunswick is the quality of life it offers. The place is home to craggy coastlines, huge rivers, and lush forests and farmlands. Everywhere you go gives you the countryside life you have been dreaming of.

One exciting feature of New Brunswick is its whale-watching activities, which are very popular among tourists and residents alike.

New Brunswick is not just about living the country life. It is home to several companies offering job opportunities for your career growth. Some of the thriving careers this place has to offer are delivery and courier drivers, physicians, and nurses.

The place has world-class education systems that children need. Parents are also assured that their kids are in good hands while they are away.

St. John’s newfoundland and labrador cheapest places to live in canada - comparewise

4. St. John’s, NL

For people who want to live in a quaint city, St John’s is the cheapest place to live in Canada. The cheapest one-bedroom apartment in the place is sold for as low as $795, while the least expensive single house costs $69,900! To live in St John’s, a person’s average salary should be $63,400, more or less.

St John’s is not only popular among immigrants but also tourists. As one of the oldest cities in North America, it is rich in history and culture. This is where Guglielmo Marconi first received his first transatlantic wireless message in 1901.

Tourists also flock to Signal Hill, one of the most beautiful attractions in the city. This place is filled with colourful wooden houses by the cliff.

This is also the place where you can find Cabot Tower, a grade II-listed building that is known for its castle-like features. This tower commemorates the 400th anniversary of John Cabot’s famous voyage from Bristol to Newfoundland

The city used to depend on the fishing industry as its main source of income. But in the 1990s, the fishing sector collapsed, and the residents started to delve into the oil and gas industry.

There are a lot of major oil and gas companies that have built their headquarters in St John’s. Moreover, you can find some of the richest Canadians living here.

Although St John is one of the cheapest places to live in Canada, its humid weather can put you off. The place usually gets a lot of rain and fog throughout the year. If this is something that you are willing to bear, then St John’s is one for you.

Shawinigan quebec cheapest place to live in canada - comparewise

3. Shawinigan, QC

Shawinigan is one of the cheapest places to live in Canada for people who love the outdoors, especially sports.

The city is known for hosting prestigious events. For instance, the place hosts the Classique Internationale de Canots de la Mauricie, one of the best marathon canoe races in the world. Moreover, Shawinigan also hosts various bonfire events, accompanied by musicians playing local music.

Shawinigan has warm weather in summer. This is a great place to live in Canada if you want to avoid colder areas. But in winter, this city could get colder than other cities.

Meanwhile, Shawinigan has its disadvantages, too. Indeed, it is a cheap city to live in, but it does not offer much job opportunities. It may not be the best place for job seekers to live since there is not much career growth. However, if you are eager to live there and get a job, there is the Laurentide Paper Company that still actively hires employees.

There is also a huge hydroelectric complex in the area that also needs employees. If such a job is in line with your career, you have nothing to worry about.

Shawinigan is trying to become a smart city in the hopes of revitalising its economy. In 2014, the city began to pursue innovative technologies to make the citizens’ life much easier.

In 2021, the Quebec and Canadian Government gave the city a budget totalling $4.99 million for building a new centre for melting scrap aluminium. Thanks to this event, the employment rate increased, and many were able to live comfortably in the city.

Thetford Mines quebec cheapest place to live in canada - comparewise

2. Thetford Mines, QC

Thetford Mines is the cheapest city in Canada, with a one-bedroom apartment costing $500. Meanwhile, the cheapest home can be as low as $59,900!

You can also find great jobs here as long as it is relevant to the labour market. This small city is known for exporting goods worldwide. When companies grow, they will have to keep hiring more workers.

Thetford Mines is the cheapest place to live in Canada for those who love cold-weather activities. In the winter season, you can experience a fair amount of snow and rain. During this time of the year, snowmobiling and skiing have become the trending activities for most residents.

Residents also look forward to springtime. Thetford Mines is one of the top maple syrup producers in Canada. Spring season means outings to sugar camps, which can be a huge opportunity for you to make connections in your community.

Meanwhile, you can enjoy the fair weather that summer brings in Thetford Mines. The city also boasts rivers and lakes. You can go boating in the summer months or have a picnic party with family and friends. Residents and tourists also look forward to outdoor concerts and festivals in the summertime.

Sherbrooke quebec cheapest places to live in canada - comparewise

1. Sherbrooke, QC

If you want to migrate to Canada, the cheapest place to live is Sherbrooke. Located in southern Quebec, the city’s cost of living is 20.81% cheaper than Toronto and 13% cheaper than Montreal.

It is also the cheapest place to live in Canada because of its cheaper rent rates. For reference, the rent in Sherbrooke is 68.36% lower than in Toronto.

Moreover, you can live in Sherbrooke for just a monthly cost of $920, if you exclude the rent. Even utilities are less expensive than in other areas.

Sherbrooke is a cheap place in Canada to live in if you love spending time outdoors. The place is home to many bike paths and trails as well as over 200 parks and green spaces! You can also easily access national parks in just 45 minutes of driving around the city.

If you are not fond of the great outdoors, you can always enjoy the theatres, museums, or murals in Sherbrooke. This proves that the city has a diverse culture that you can explore.

You can also enjoy splendid restaurants, bars, microbreweries, and food stores. These are all affordable, which is why it is a great, cheap place in Canada.

Finding the Cheapest Place to Live in Canada

The cheapest place to live in Canada will depend on your lifestyle and financial goals.

The cost of living in one place will be different from the other. Moreover, it is subject to the person’s needs. For instance, Vancouver’s affordability for a financially stable person cannot compare to Winnipeg for a family of five living on a single income.

You must do your research and identify the cities and provinces with a low cost of living. Then you can highlight the things you like in your chosen area according to your lifestyle and goals. Doing so will help you find the cheapest city to live in Canada.

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FAQs about the cheapest places to live in Canada

Which province in Canada has the lowest cost of living?

One of the cheapest places to live in Canada is Newfoundland and Labrador. Not only does the area offer a lot of affordable housing options, but it also gives the cheapest condominiums to rent.

How much is the cheapest apartment in Canada?

You can find some of the cheapest apartments in Montreal, Quebec. This Canadian city is also the place where rent increased last year. The one-bedroom median rent is less than $1,400. Meanwhile, one-bedrooms cost less than $600.

Which state of Canada has the cheapest houses?

There are several places in Canada with the cheapest house prices. In Northern New Brunswick, the average price is $293,000. Cape Breton, on the other hand, has an average price of $186,300. Meanwhile, the average price in Saguenay–Lac-Saint-Jean is $267,000.

Is renting cheaper than owning houses in Canada?

It depends on your life goals. Mortgage payments are much higher. Therefore, it is safe to say that renting is cheaper than paying a mortgage. Nevertheless, it still depends on your location, so you must choose the cheapest place to live in Canada.

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May 12, 2023
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