Canada is filled with beautiful places to live and work from coast to coast, yet there’s no doubt that affordability varies considerably between cities and even provinces.
The Globe and Mail recently published its list of the 100 most liveable cities. This list was compiled to help Canadians find communities that offer what they value most, including safety, housing costs, and other economic factors.
Of course, there are other important things to consider when choosing a place to call home, so we’ve also included some extra information on the top 10 cities below to help you decide where to move if you’re considering relocating in the new year.
Key Takeaways
- British Columbia dominates the top 10, with 5 cities making the list.
- The rankings are based on factors such as the local economy, the cost of housing, and the safety of the communities.
- The most affordable cities on the list are Rivière-du-Loup, Quebec and Tracadie, New Brunswick.
#1 North Vancouver, British Columbia
Located on the north shore of Burrard Inlet, North Vancouver is known for its many hiking and skiing trails. It is close to top attractions, including Capilano Suspension Bridge Park and Grouse Mountain, which received Tripadvisor Travellers’ Choice awards for 2023.
Best City for: Those who love the outdoors
Worst City for: Those who hate traffic
| Population | 165,106 |
| Median household income | $121,723 |
| Unemployment rate | 6.5% |
| Average home price | $1,608,157 |
| Average monthly rent | $2,186 |
| Estimated cost of living per month (single person, with rent) | $4,300 |
| Crime rate (incidents per 100,000) | 2,561 |
| Median age | 44 |
| Temperature high and low | 23c to 2c |
#2 West Vancouver, British Columbia
Located on the northern shore of English Bay, West Vancouver is one of the main ports connecting mainland British Columbia with Vancouver Island. The area is great for those who love the outdoors, with Cypress Mountain close by, but still want the perks of urban living.
Best City for: Outdoor enthusiasts
Worst City for: Transportation and traffic
| Population | 49,274 |
| Median household income | $129,218 |
| Unemployment rate | 8% |
| Average home price | $3,272,339 |
| Average monthly rent | $2,186 |
| Estimated cost of living per month (single person, with rent) | $4,417 |
| Crime rate (incidents per 100,000) | 3,518 |
| Median age | 50.6 |
| Temperature high and low | 23c to 0c |
#3 Victoria, British Columbia
The capital of British Columbia, Victoria, is located on the southern tip of Vancouver Island and boasts abundant parks and trails to explore. The area is known for having one of the mildest climates in Canada, making it a great place to live for those not into Canadian winters.
Best City for: Those who prefer a mild climate
Worst City for: The budget-conscious
| Population | 102,499 |
| Median household income | $77,494 |
| Unemployment rate | 6.6% |
| Average home price | $911,681 |
| Average monthly rent | $1,844 |
| Estimated cost of living per month (single person, with rent) | $3,984 |
| Crime rate (incidents per 100,000) | 9,761 |
| Median age | 41.2 |
| Temperature high and low | 19c to 3c |
#4 Winnipeg, Manitoba
Winnipeg is the capital and largest city in Manitoba. It’s Canada’s sixth-largest city and eighth-largest metropolitan area. The city is one of the most affordable in Canada and has the third fastest-growing economy among major Canadian cities.
Best City for: Employment opportunities and affordable housing
Worst City for: Crime rate
| Population | 814,027 |
| Median household income | $85,831 |
| Unemployment rate | 7.5% |
| Average home price | $374,629 |
| Average monthly rent | $1,430 |
| Estimated cost of living per month (single person, with rent) | $3,296 |
| Crime rate (incidents per 100,000) | 6,088 |
| Median age | 38.1 |
| Temperature high and low | 27c to -19c |
#5 Regina, Saskatchewan
Regina, the capital city of Saskatchewan, is the second largest city in the province. The city is one of the fastest-growing Canadian cities due to its relatively low cost of living and higher incomes. The city is known as the sunniest capital city in Canada, with an average of 322 days of sunshine a year.
Best City for: Affordable living
Worst City for: Those who love to travel
| Population | 247,325 |
| Median household income | $106,546 |
| Unemployment rate | 7.7% |
| Average home price | $330,309 |
| Average monthly rent | $1,306 |
| Estimated cost of living per month (single person, with rent) | $3,007 |
| Crime rate (incidents per 100,000) | 5,257 |
| Median age | 36.2 |
| Temperature high and low | 26c to -19c |
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#6 Saskatoon, Saskatchewan
Saskatoon is the largest city in Saskatchewan. The city falls just behind Regina as one of the sunniest cities in Canada, averaging 316 days of sunshine a year. This city has a relatively low cost of living compared to the median household income, making it a great place to live on a budget.
Best City for: Affordable living
Worst City for: Those who hate winter
| Population | 295,185 |
| Median household income | $100,909 |
| Unemployment rate | 6.1% |
| Average home price | $400,263 |
| Average monthly rent | $1,366 |
| Estimated cost of living per month (single person, with rent) | $3,293 |
| Crime rate (incidents per 100,000) | 5,504 |
| Median age | 35.6 |
| Temperature high and low | 26c to -19c |
#7 Calgary, Alberta
Calgary is the largest city in Alberta, with a strong economy boasting many jobs in the oil and gas industry. Calgary was ranked the #1 city to live in Canada and shares the ranking with Zurich as the third most liveable city in the world, as ranked by the Economist Intelligence Unit in 2022.
Best City for: Lower taxes
Worst City for: Unpredictable weather
| Population | 1,457,222 |
| Median household income | 101,588 |
| Unemployment rate | 9.2% |
| Average home price | $639,520 |
| Average monthly rent | $1,706 |
| Estimated cost of living per month (single person, with rent) | $3,740 |
| Crime rate (incidents per 100,000) | 4,206 |
| Median age | 37.4 |
| Temperature high and low | 24c to -11c |
#8 Pitt Meadows, British Columbia
Between the Fraser River and Golden Ears mountains, Pitt Meadows is a growing safe and quiet area with a small community feel that’s great for raising a family. The area has easy access to wilderness, parks, and markets and is a 40km drive from Vancouver.
Best City for: Rural living
Worst City for: Those who enjoy nightlife
| Population | 21,305 |
| Median household income | $119,015 |
| Unemployment rate | 6% |
| Average home price | $958,717 |
| Average monthly rent | $2,186 |
| Estimated cost of living per month (single person, with rent) | $3,900 |
| Crime rate (incidents per 100,000) | 4,262 |
| Median age | 42 |
| Temperature high and low | 26c to 0c |
#9 Penticton, British Columbia
Penticton is a Rocky Mountain city that ranks as one of the best places to visit and live. The city is growing with young families and remote workers choosing a quieter, more affordable city life close to outdoor recreational activities.
Best City for: Those who prefer mild climates
Worst City for: Crime rates
| Population | 40,418 |
| Median household income | $76,900 |
| Unemployment rate | 6.8% |
| Average home price | $651,444 |
| Average monthly rent | $1,472 |
| Estimated cost of living per month (single person, with rent) | $3,200 |
| Crime rate (incidents per 100,000) | 14,200 |
| Median age | 51.7 |
| Temperature high and low | 29c to -4c |
#10 Oakville, Ontario
Oakville is part of the Great Toronto Area, located between Toronto and Hamilton. This city is rapidly growing due to its proximity to other major commuter cities. The area boasts a low crime rate compared to its population, making it a great location to raise a family.
Best City for: Crime rates
Worst City for: Affordability
| Population | 237,995 |
| Median household income | $144,804 |
| Unemployment rate | 8.9% |
| Average home price | $1,490,024 |
| Average monthly rent | $1,964 |
| Estimated cost of living per month (single person, with rent) | $3,821 |
| Crime rate (incidents per 100,000) | 1,838 |
| Median age | 41.2 |
| Temperature high and low | 26c to -7c |
Frequently Asked Questions
Which city has the lowest home prices for first-time buyers?
From the cities that made the top 10 list, Winnipeg and Regina rank as the most affordable for first-time buyers looking to enter the housing market.
How can I determine how much mortgage I can afford?
An online mortgage affordability calculator is the easiest way to determine how much a mortgage you can afford. You can use nesto’s affordability calculator and input your financial details, including your income, any co-applicant income, down payment, and any debts you may have to give you an estimate of how much home you can afford.
When is the best time to look for a home?
If you’re looking for the best deal or want more negotiating power, the best time to look for a home is in the fall and winter months once the traditional spring and summer housing frenzy finishes. However, if you want more inventory, spring and summer are typically peak seasons for home buying.
Final Thoughts
Canada, with its diverse landscapes and communities, offers something for everyone. However, the cost of living varies significantly across the country. The best Canadian city for you will depend on your lifestyle, preferences, and budget.
If you’re ready to start your homeownership journey, reach out to a mortgage expert today.
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