Canada is widely known as one of the premium locations worldwide and definitely does not have the cheapest real estate.
While it is generally pricey to buy a home, there are some Canadian cities where you can find inexpensive homes.
Key Takeaways
- The top five cheapest Canadian cities to buy a house are the following: Brandon, MB; Saint John, NB; Regina, SK; Saint John’s, NL; and Moncton, NB.
- The average house price in Canada is $655,507, while the median household income in the country is $84,000.
- The cheapest cities in Canada to buy a house in are Brandon, MB, with an average house price of $265,690, and Saint John, NB, with $297,400.
Cheapest Cities to Buy a House in Canada
Below are ten of the cheapest Canadian cities to buy a house. For the national average figures, the average house price in Canada is $655,507, while the median household income in the country is $84,000.
| Location | Average House Price September 2023 | Median Income, Households (2020) | Population (2022) |
| Canada | $655,507 | $84,000 | 38,929,902 |
| Brandon, MB | $265,690 | $77,500 | 63,822 |
| Saint John, NB | $297,400 | $74,000 | 135,622 |
| Regina, SK | $308,700 | $90,000 | 268,804 |
| Saint John’s, NL | $338,900 | $85,000 | 219,119 |
| Moncton, NB | $340,700 | $74,500 | 171,608 |
| Winnipeg, MB | $342,800 | $83,000 | 871,778 |
| Edmonton, AB | $373,400 | $96,000 | 1,516,719 |
| Saskatoon, SK | $381,900 | $89,000 | 347,536 |
| Red Deer, AB (Central AB) | $386,053 | $85,000 | 107,073 |
| Calgary, AB | $553,300 | $100,000 | 1,608,342 |
1. Saint John, NB
- Average house price: $297,400
- Median income: $74,000
- Population: 135,622
Saint John, NB, is a vibrant, urban seaport city on the Bay of Fundy. Referred to as The Port City, it is one of Canada’s cheapest places to buy a house. It has also received recognition several times as one of the most affordable cities in Canada and the world.
2. Regina, SK
- Average house price: $308,700
- Median income: $90,000
- Population: 268,804
Regina, known as Queen City, is the capital city of Saskatchewan and the second-largest city in the province. While it serves as the commercial centre in the region, Regina remains an affordable location for first-time home buyers due to its reasonable house prices and low cost of living.
3. Winnipeg, MB
- Average house price: $342,800
- Median income: $83,000
- Population: 871,778
Winnipeg is not only Manitoba’s capital but also the largest city in the province and the sixth-largest in Canada. It is a world-class city with a strong job market, superior schools and affordable housing options. The cost of living and housing is also remarkably inexpensive.
4. Edmonton, AB
- Average house price: $373,400
- Median income: $96,000
- Population: 1,516,719
Located in the central region, Edmonton is the capital city of Alberta and the second-largest city in the province. The city boasts a diverse culture, robust job market, excellent schools, a superior quality of life and an affordable cost of living.
5. Saskatoon, SK
- Average house price: $381,900
- Median income: $89,000
- Population: 347,536
The biggest city in Saskatchewan, Saskatoon, is the major economic and cultural centre in the province. A welcoming city, it is known for its gorgeous riverfront, urban amenities, diverse culinary offerings and lively cultural scene. The cost of living in the city is also relatively lower than in other major Canadian cities.
6. Red Deer, AB
- Average house price: $386,053
- Median income: $85,000
- Population: 107,073
Red Deer is a city located midway between Calgary and Edmonton Corridor and serves central Alberta. Known as one of Canada’s most entrepreneurial cities, Red Deer offers convenience and affordability. The consumer prices here are lower than in the province’s major cities like Edmonton and Calgary.
7. Brandon, MB
- Average house price: $265,690
- Median income: 77,500
- Population: 63,822
Brandon, sometimes called the Wheat City of Canada, is located in the southwest corner of Manitoba. It is the second-largest city in the province and is often ranked among the best places to live in Canada. It also has a relatively low cost of living and is more affordable than other cities. Manitoba is one of Canada’s provinces with the cheapest houses, particularly in Brandon.
8. Moncton, NB
- Average house price: $340,700
- Median income: $74,500
- Population: 171,608
Moncton is a populous city on the southeastern side of New Brunswick and is often called the Hub City. It is an ideal location for first-time home buyers because of its affordable housing market and low cost of living.
9. Calgary, AB
- Average house price: $553,300
- Median income: $100,000
- Population: 1,608,342
Calgary in southern Alberta is the province’s capital and most populated city. Although living costs in Calgary are lower than its coastal neighbour Vancouver, the cost of living in Calgary is not too far behind. You may need to be prepared to pay a higher price than in other Canadian cities but significantly less than in Toronto and other major metropolises.
10. Saint John’s, NL
- Average house price: $338,900
- Median income: $85,000
- Population: 219,119
St. John’s is the capital of and the largest city in Newfoundland and Labrador, one of the least expensive provinces in Canada. The city also ranks highly in affordability and is consistently listed among the most affordable places. Its affordability stems from a low cost of living and a strong job market.
Summary
Below is the summary of the cheapest places to buy a house in Canada, ranked according to average house price.
The average house prices are sourced from The Canadian Real Estate Association.
Population figures and median household income data are from Statistics Canada.
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Which Province Has the Cheapest Houses in Canada?
Based on our list above, sourced from the Canadian Real Estate Association for September 2023, Manitoba has the cheapest houses in Canada, with the house prices in Brandon averaging $265,000.
What is the Most Expensive Place to Live in Canada?
According to Mercer’s Cost of Living City Ranking 2023, the most expensive city in Canada is Toronto, which is in the 90th place.
Vancouver, in the 116th spot, is also among the most expensive places to live in Canada. The average house price for Greater Toronto is $1,127,000.
Where Can You Buy Homes For Sale Under $50,000 in Canada?
You can find homes priced under $50,000 in the following locations, with their asking price in parentheses: Angusville, MB ($23,000); Shaunavon, SK ($25,000); Saint Andre, NB ($25,000); Bloomfield, NL ($25,500); Chetwynd, BC ($30,000); Oxford, Nova Scotia ($34,900); Fort St. John, BC ($39,900); Bryant’s Cove, Newfoundland ($42,000); and Fairview, AB ($44,500).
Where Can You Buy Homes For Sale Under $100k in Canada?
There are numerous online sources where you can find homes for sale under 100k in Canada. These include platforms like Point2Homes and RE/MAX.
Performing a search on these sites using the stated terms yielded results such as the following: St. John’s, NL ($99,900); Calgary, AB ($98,700); West Kelowna, BC ($95,000); Victoria Cross, PE ($90,000); and Regina, SK ($89,900).
FAQs
The city with the most affordable housing in Canada in September 2023 is Portage La Prairie in Manitoba. Home prices in the city averaged $177,500, a 15.4% decrease from $209,750 in September 2022. Portage La Prairie, with a population of 13,647, is a major agricultural centre in the Central Plains region of Manitoba.
Yes, real estate in the US is less expensive than in Canada because America has lower mortgage interest and taxes on real estate sales. Some factors that influence the ever-increasing housing prices in Canada include the limited availability of land for development that restricts new home construction, the country’s growing population due to the influx of immigrants, and low interest rates that help borrowers afford mortgages.
It is cheaper to live in Alberta than in Ontario. The cost of living (including rent) in the Ontario capital of Toronto is 26.9% higher than in Edmonton, the capital of Alberta. The average house price in Ontario is $851,756, while in Alberta, it is $450,105.
London, Ontario, with an average summer temperature of 27 Celsius, is among the warmest places in Canada. It is also among the most affordable places, with the cost of living for a single person (without rent) being $1,358, which is among the more affordable ones. The average house price is $595,300, significantly lower than the national average of $655,507.
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