The Most Affordable Cities in Real Estate Canada, 2023
Living in Canada’s major metropolitan cities like Toronto and Vancouver can be costly due to the high cost of living, especially when it comes to housing. However, Canada has many smaller towns offering affordable living costs and excellent quality of life. Browsing through listings for Milton homes for sale may present a more affordable option than purchasing a property in nearby Toronto.
These smaller cities have lower housing prices, a slower pace of life, and access to plenty of natural beauty. Additionally, these cities have various job opportunities in the technology, healthcare, and education sectors. With a lower cost of living and diverse career options, these smaller cities attract people who want to experience all Canada offers without breaking the bank.
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Our Top 5 Affordable Cities in Canada
If you are looking for affordable living in Canada, check out our top five city picks: Surrey,
Quebec City, Kelowna, Kitchener and New Glasgow. You can check out the best real estate websites in Canada to know more about the same.
Surrey
Surrey is in the Metro Vancouver area of British Columbia, approximately 35 km (22 miles) southeast of Vancouver. It is the second-largest city in the province by population and is known for its diverse population and natural beauty. The closest metropolitan area to Surrey is Vancouver, approximately a 30-minute drive away.
Kelowna
Kelowna is located in interior British Columbia, Canada, approximately 392 km (243 miles) east of Vancouver. Situated on the shores of Okanagan Lake, it is known for its beautiful weather, amazing landscapes and abundant wineries. The closest metropolitan area to Kelowna is Vancouver, approximately a 4-hour drive away.
In February 2023, the average house sale price in Greater Vancouver, the largest housing market in British Columbia, was $1,219,919. Kelowna had an average house sale price of $760,867 during the same period. Meanwhile, in Surrey, closer to Vancouver, the average house sale price was $1,029,100.
Quebec City
The capital city of Quebec, Quebec City is located in eastern Canada. It is situated on the St. Lawrence River and is known for its rich history, stunning architecture and vibrant culture. Montreal is the closest metropolitan area to Quebec City, approximately a 2-hour drive away.
In Quebec, the average home price for February 2023 was $436,800. According to data from the Quebec Professional Association of Real Estate Brokers (QPAREB), the median price of a single-family home in Quebec City was $350,000 in July 2022.
Kitchener
Kitchener is located in southwestern Ontario, approximately 100 km (62 miles) west of Toronto. It is part of the larger Region of Waterloo, including Waterloo and Cambridge. Kitchener is known for its high-tech industries and is often called the “Silicon Valley of the North.” The closest metropolitan area to Kitchener is Toronto, approximately a 1-hour drive away.
In Kitchener, the average sale price in February 2023 was $758,698.
New Glasgow
New Glasgow is a town in northern Nova Scotia, approximately 160 km (99 miles) northeast of Halifax. It is situated on the East River of Pictou and is known for its historic buildings and scenic waterfront. Halifax is the closest metropolitan area to New Glasgow, approximately a 2-hour drive away.
Nova Scotia, which is where New Glasgow is located, had an average house price of approximately 412,000 Canadian dollars in 2022, according to the Nova Scotia Association of Realtors.
The Charm of Smaller Cities
Immigrants and first-time homebuyers in Canada may find smaller cities like Kitchener, New Glasgow, Kelowna, Surrey, and Quebec City great options for buying their first home. Not only are these cities more affordable compared to bigger metropolitan areas like Toronto and Vancouver, but they also offer a better quality of life.
These cities have lower living costs, and the real estate market is less competitive than the bigger cities, making it easier for homebuyers to enter the market. For instance, first-time home buyers can find affordable houses for sale in Waterdown or Welland.
Additionally, smaller cities provide more opportunities for personal and career growth, as they are more open and may have less competition for jobs. Smaller cities can also offer immigrants a welcoming community with rich cultural diversity. Overall, smaller cities can be an excellent option for those planning to buy their first home or start a new life in Canada.
Hema Chandrashekar
Save Max Real Estate
