10 Cheapest Places to Live in the Canada 2024

The 10 Cheapest Places to Live in Canada in 2024: Living in Canada will give you an amazing experience, although expenses for a living may be on the higher side. But many living options in smaller towns and cities are quite affordable and also provide a good community life.

This article will cover some of the cheapest spots for living in Canada so that you can make a wise choice and identify the location that best suits your requirements in terms of affordability.

Let’s explore.

10 Cheapest Places to Live in the Canada 2024

Here’s a table format listing some of the places in Canada known for their relative affordability, based on your selection:

Rank	City/Town	Province	Notable for
1	Sherbrooke	Quebec	Affordable living, strong academic community.
2	Drummondville	Quebec	Competitive housing market, industrial and cultural hub.
3	Longueuil	Quebec	Proximity to Montreal, lower housing costs.
4	Brockville	Ontario	Low cost of living, scenic views of the Thousand Islands.
5	Montreal	Quebec	Cultural vibrancy, relatively affordable urban living.
6	Kitchener	Ontario	Growing tech sector, reasonable housing prices.
7	Thunder Bay	Ontario	Affordable housing, rich natural environment.
8	Halifax	Nova Scotia	Coastal beauty, vibrant arts scene, and affordable living.
9	Kingston	Ontario	Historic sites, university town with lower living costs.
10	Edmonton	Alberta	Low cost of living compared to other major cities, booming economy.

This table showcases a mix of urban and smaller communities across Canada known for their affordability, providing a range of options for those looking to relocate or invest in property within Canada. Remember, affordability can be influenced by various factors, including employment opportunities, lifestyle preferences, and more. Always conduct up-to-date research or consult real estate professionals for the latest information.

The Cost of Living in Canada

The region of the country you choose to live in has some significant influences on the cost of living. Typically, living expenses will come down as you move away from the major cities. In addition, the cost of living is found to be lower in rural and agricultural communities than in metropolitan cities. Based on these factors, you should thoroughly assess your situation and requirements and then begin looking for a living option that suits your budget.

Important Facts

The Canadian Real Estate Association’s (CREA) data indicates that New Brunswick is the most affordable province to reside in. The average cost of a house in this area was $281,900 as of September 2022. Newfoundland and Labrador are other reasonably priced regions with an average property price of $285,200.

List of Top 10 Cheapest Places to Live in Canada in 2024

In Canada, several locations offer fair costs of living with affordable housing facilities across locations. In addition to the price of a property, there are other aspects to take into account while deciding where to live economically. The standard incomes of that region, the applicable taxes, and the prices of amenities also have an impact on how affordable the place is to live.

In the below section, we have listed the top ten places to live in Canada in 2024 in terms of affordability. We hope this information can assist you in finding a suitable residential spot, whether you are an individual or a family looking for affordable options to settle down in a city.

1. Sherbrooke, Quebec

The city of Sherbrooke is situated in southeast Quebec. With more than 160,000 residents, it ranks as the 30th largest city in Canada and the sixth largest in the province. Sherbrooke is an important center of the arts and economy. The city’s beautiful natural surroundings make it one of its most prominent attractions. The main economic activities include textiles, electronic parts, and education.

Cost of living for a single person	$924.89
Average cost of a family home	$249,000
Average rental cost of a single room	$309
Average cost of utilities	$39.7 for a single person and $60.2 for a family
Average cost of living for one person	$937 per month
Average cost of living for a typical family:	$2,569 per month

2. Drummondville, Quebec

This city is recognized as one of Quebec’s most popular tourist destinations and has a reputation for being a safe place for residents. One of the most advantageous things about living in Drummondville is its reasonable cost.

Cost of living for a single person	$1158
Average cost of renting a single room:	$632
Average cost of utilities	$47 for a single person and $72.1 for a family
Average cost of living for one person without rent	$1284 per month
Average cost of living for a typical family:	$2781 per month

3. Longueuil, Quebec

This city is located on the side of the Saint Lawrence River. Apart from its administrative significance, Longueuil is famous for its industrial significance in the aerospace sector. The Canadian Space Agency headquarters are located in this city.

Cost of living for a single person	$1261
Average rental cost of a single room	$423
Average cost of utilities	$45.5 for a single person and $69.4 for a family
Average cost of living for one person without rent	$1123 per month
Average cost of living for a typical family	$3,080 per month

4. Brockville, Ontario

Brockville is a nice city in eastern Ontario and home to a number of exciting tourist attractions. Brockville is also one of the most affordable places to live in Canada. The city provides residents with a pleasant and welcoming environment while ensuring safety and security. Brockville is also one of the most affordable places to live in Canada.

Cost of living for a single person:	$1,540
Average rental cost of a single room	$632
Average cost of utilities:	$81.7 for a single person and $126 for a family
Average cost of living for one person:	$1389 per month
Average cost of living for a typical family	$3,568 per month

5. Montreal, Quebec

Montreal is Quebec’s most populous city and a center for major economic activities. It is the location of the corporate offices of five major banks. It is also a prominent center for media and entertainment in the region. It’s one of the most preferred locations for young people to live in Canada, with lots of entertainment options, art, and culture.

Cost of living for a single person	$1,598
Average cost of a family home	$565,421
Average rental cost of a single room	$558
Average cost of utilitie	$52.4 for a single person and $80.8 for a family
Average cost of living for one person without rent	$1447 per month
Average cost of living for a typical family	$3748 per month

6. Kitchener, Ontario

Kitchener is well known for its modern community affairs and active business scenario. The economy of Kitchener is driven mostly by the manufacturing and technology industries. Major employers include Toyota Manufacturing, Manulife, and Sun Life Financial.

Cost of living for a single person	$1,942
Average cost of a family home	$841,764
Average rental cost of a single room	$599
Average cost of utilities	$118 for a single person and $183 for a family
Average cost of living for one person without rent	$1,348 per month
Average cost of living for a typical family	$4515 per month

7. Thunder Bay, Ontario

Thunder Bay is connected to several lakefronts and offers scope for a variety of outdoor activities. If you are looking for the best rent deals in Canada, this is an excellent area to live. For visitors looking for comfortable accommodation at an affordable price, the city is a desirable option.

Cost of living for a single person	$1415
Average cost of a family home:	$276,289
Average cost of renting a single room:	$50
Average cost of utilities	$103 for a single person and $158 for a family
Average cost of living for one person without rent:	$1,281.00 per month
Average cost of living for a typical family:	$3,192 per month

8. Halifax, Nova Scotia

Halifax is the capital of Nova Scotia and is well-known for its commercial activities in eastern Canada as a major hub of both public and private enterprises. The city hosts a number of business centers, including mining, forestry, fishing, and agriculture.

Population	431,479
Cost of living for a single person:	$1,209.69
Average cost of a family home	$406,000
Average rental cost of a single room	$635
Average cost of utilities:	$439
Average cost of living for one person without rent	$1,495 per month
Average cost of living for a typical family:	$2,569 per month

9. Kingston, Ontario

Kingston is a nice city with a lot of historic structures. In terms of travel, eating out, and recreational activities, it is quite budget-friendly. The public education system, healthcare, government, public institutions, and tourism are Kingston’s main employment sectors. With a 5.4% unemployment rate as of October 2022, there are lots of job opportunities in Kingston.

Cost of living for a single person	$1,963
Average cost of a family home	$464,083
Average cost of renting a single room	$1,475
Average cost of utilities	$104 for a single person and $159 for a family
Average cost of living for one person without rent	$994 per month
Average cost of living for a typical family	$495 per month

10. Edmonton, Alberta

One of the most affordable places to live in Canada is Edmonton, the provincial capital of Alberta. With many prospects in petrochemicals and regional financial activities, Edmonton is a wonderful place to improve earnings.

The city hosts several traditional cultural festivals, demonstrating rich heritage as well as entertainment for residents and visitors.

Cost of living for a single person	$2,103
Average cost of a family home	$470,400
Average cost of renting a single room	$633
Average cost of utilities	$149 for a single person and $232 for a family
Average cost of living for one person without rent	$1,536 per month
Average cost of living for a typical family	$4653 per month

Conclusion

It is quite justified to look for the most affordable areas to live in Canada given the status of the economy, although it may be challenging at times. We have given a brief overview of ten places that offer an affordable cost of living. When deciding on less expensive options for residing, a lot of things must be considered, such as the cost of housing, food, transportation, and other facilities, as well as employment scenarios and economic activities. Comparing the various cities in terms of these parameters is the best method to determine which location will be the cheapest to live in Canada in 2024.

FAQs on 10 Cheapest Places to Live in the Canada 2024

Which cities in Canada have the lowest rents?

Canada’s lowest rental prices are found in the Newfoundland and Labrador regions, with rental prices starting at approximately $950.

Why is Kitchener considered one of the cheapest places to live in Canada?

Compared to the other cities, property prices are higher in Kitchener, but it is still one of the most affordable places to live in Canada because of the region’s lower tax burdens and low cost of daily expenses.

Which city in Canada has the lowest tax rates?

Alberta has the lowest tax rates in Canada.

Compared to the US, what is the price of groceries in Canada?

The price of groceries in the US is 12% higher than in Canada.

Which city in Canada shares its name with a famous city in the UK?

The city of London in Ontario shares its name with the famous city in the UK.