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08 Best Cheapest Places to Live in Canada in 2023 

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A Cook, Software analyst & Blogger.
Canada, US
7:20 pm, September 23, 2023
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Cheapest Places to Live in Canada : Canada is one of the best countries to live in the world in terms of safety, work-life balance, education, and healthcare. The nation also boasts lush natural beauty and a vibrant entertainment scene, drawing many to take up residence here. 

But owing to the increasing living costs, living in many of its well-known cities has become too pricey.

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While cities like Vancouver and Toronto are extremely sought-after places to call home, they are some of the most expensive across the world.

Places to Live in Canada

It doesn’t come as a surprise that many people are now considering moving to some of its more affordable cities. 

Planning to do the same?

We’ve curated a list of the cheapest places to live in Canada which won’t be hard on the pocket: – 

Dive in!

Sherbrooke, Quebec #1

Looking for the perfect combination of lush natural beauty with access to urban amenities?

Head to Sherbrooke.

Located in southern Quebec, this city is home to around 200 parks, and plenty of trails and biking paths.

What’s more?

You’ll find everything here that a vibrant city offers, from theatres, malls, restaurants, bars, museums, and murals.

The cost of living here is considerably less than in big cities like Toronto and Montreal. You can get a one-bedroom apartment here with a monthly rent of around $810.

The average monthly utilities cost for a person is also affordable at around $182.

St. John’s, Newfoundland and Labrador #2

The oldest incorporated city in the country, Saint John has a rich history and culture which draws tourists and locals alike.

One of the most popular attractions here is Signal Hill which features beautiful colourful wooden houses by a cliff and is also home to the historic Cabot Tower.

The city was famous for being a hub of the fishing industry but it gradually declined and gave way to the growth of the oil and gas industry here.

It hosts various events and has a lively city market. Couple that with a low crime rate and a strong community vibe.

The cost of living here is quite affordable at around $2,624 per month for one person.

The average rent for a one-bedroom apartment is around $975 per month. Looking to buy a house? The median home price here is around $275,640. 

New Brunswick #3

This charming city comes with a host of attractive offerings. Whether you’re a nature lover, a party person, or an adventure junkie, this city won’t disappoint.

Home to lush forests, babbling rivers, and a dramatic coastline, it offers a plethora of outdoor recreational activities such as swimming, whale-watching, and hiking to name a few.

Couple that with easy access to urban amenities including excellent restaurants, impressive art galleries, lively markets, historic theatres, and prestigious schools.

It’s also home to many companies and boasts a low unemployment rate.

The median rent is around $1,075 for a one-bedroom apartment while the average home price is around $299,964, The cost of living here for one person is $612 excluding rent. 

Hamilton, Ontario #4

With its cost of living almost 25% less than in Toronto, Hamilton is an excellent affordable choice. Only 70 km from Toronto, Hamilton allows an easy commute to Toronto for those who wish to enjoy the big city entertainment scene.

Love some outdoor adventure?

It’s a short drive to the Niagara Falls from here. Residents can also access its numerous lakes.

The average rent for a one-bedroom apartment is around $1,806 per month while the median home price here is around $800,584.

Keep in mind that the weather can get really hot and humid here seasonally. But if that isn’t a concern, go for it. 

Cape Breton, Nova Scotia #5

With the cost of living being around 3% less than the national average, Cape Breton is one of the cheapest places to live in Canada.

From towering mountains to endless hiking trails, beautiful parks, fishing villages, and museums, the island boasts many natural and cultural attractions.

There are abundant recreational activities to enjoy here and the place also hosts numerous festivals and events.

What’s more?

It has a robust public transportation system and many stunning waterfront properties.

While the median home price is around $355,00, the average monthly rent for a studio apartment is around $1,199.

Utilities are also relatively cheaper. Only imported items such as meat and dairy can be pricey but the low overall cost of living makes it a budget-friendly choice. 

Abbotsford, British Columbia #6

Nestled along the banks of the scenic Fraser River, Abbotsford offers the perfect combination of a serene rural vibe with access to urban amenities.

From beautiful parks and trails to excellent restaurants and shopping malls, the city has it all.

It also offers stunning views of the snow-capped peaks of Cascade Mountain. Couple that with quality schools and a strong community vibe.

What’s more?

It’s one of the cheapest cities in British Columbia.

The average monthly rent here is around $1,499 while the median home price is around $850,533. If you exclude rent, the cost of living here for one person is around $1,120 every month. 

Lethbridge, Alberta #7

This affordable gem in southern Alberta is popular for its robust job market scene in various industries such as healthcare, hospitality, retail, and agriculture.

Relocating with family?

There are numerous excellent schools and day-care facilities here.

If you’re an outdoor lover, you’ll be delighted to know that the city offers easy access to the Rocky Mountains. It also features many parks, restaurants, shops, and numerous golf courses.

What’s more?

You can enjoy all this at a pocket-friendly price since the cost of living here is around $1,300 excluding rent.

You can get a one-bedroom apartment at a monthly rent price of around $1,204 while the median home price is around $409,236 for single-family homes. 

Saskatoon, Saskatchewan #8

From stunning parks and lakes to a beautiful river and a zoo, Saskatoon is home to many impressive attractions that make it a desirable place to call home.

Couple that with a growing economy, excellent healthcare facilities, and numerous good schools.

It is also home to The University of Saskatchewan. The best part is that you can enjoy access to all this at an affordable price.

The average rent here is around $1,084 and the median home price here is around $375,600. The average utility cost in the city is around $359.14 for one person.

So, pick the one that ticks off all the boxes on your checklist and get ready to begin the next chapter of your life in a new place. 

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Q. Which city is the cheapest for international students in Canada?

Saskatchewan and Quebec are amongst the cheapest places for international students in Canada. 

Q. Is Toronto cheaper than Vancouver?

Toronto is pricier than Vancouver when it comes to rent prices, utilities, and groceries. 

Q. What is the cheapest province to live in Canada?

 Newfoundland and Labrador is considered the cheapest province to live in Canada. 

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