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Looking for a Cheap Place to Live in Canada? These are the 10 Cheapest Cities

12 February, 2012 / by Bryan Jaskolka

Are you tired of those sometimes pricey Toronto mortgages? Are you willing to make a major relocation if needed, as long as it comes with lower monthly mortgage payments? If so, here are the ten cheapest cities in Canada that you might want to think about calling your future home.

Fredericton, New Brunswick
Average price of a home: $143,876
Fredericton sits in the southern region of the province and is considered to be one of its major urban centres. With lively culture, great nightlife, and two universities, it seems there’s something for everyone in Fredericton.

Chatham Kent, Ontario
Average price of a home: $142,755
This region of Ontario is great for outdoor enthusiasts and is mostly known for its beautiful beaches.

Sault Ste. Marie, Ontario
Located in the far western part of the province, “The Sault” as it’s known to the locals, sits on the St. Marys River which makes for gorgeous provincial parks, hiking trails, and waterways.

Thunder Bay, Ontario
Average price of a home: $134,642
Drive past The Sault to the very western part of the province and you’ll run into Thunder Bay, a booming city seemingly in the middle of nowhere. Thunder Bay’s home to a host of attractions though, such as a Terry Fox memorial, Fort William Historical Park, and tons of galleries and cultural centers.

Cornwall, Ontario
Average price of a home: $128,301
If you want to live close to the nation’s capital and take in Parliament Hill and the Rideau Canal on the weekends; but you just spoke to your Ottawa mortgage broker and it turns out you can’t afford those pricey Ottawa mortgages, Cornwall is a great option. It’s close, and houses are super cheap!

Yarmouth, Nova Scotia
Average price of a home: $126,200
This is one of Canada’s most beautiful fishing ports, even if it is one of the least populated. Located on the Gulf of Maine, homes are also mostly done in the Victorian style, adding to this town’s quaintness.

Annapolis Valley, Nova Scotia
Average price of home: $122,319
Sitting right in the valley of the two mountains that tower above this town, it has a climate that’s perfect for growing produce. Which is probably why most of this region is used as farmland.

Cape Breton, Nova Scotia
Average price of a home: $119,059
Surrounded by the beautiful Atlantic Ocean, Cape Breton is not just one of the cheapest places in Canada to live, it’s also one of the most beautiful. It was here that the Scottish first settled in Canada, and the Scottish culture is still very much alive today.

Timmins, Ontario
Average price of a home: $118,418
Well if it’s good enough for Shania Twain, it should be good enough for just about anyone else! Timmins is a large mining town and so whenever the price of gold is high, the prices for homes in Timmins is low.

Yorkton, Saskatchewan
Average price of a home: $107,283
The cheapest town in Canada to live! With a population of about 15,000 this town in the southeastern portion of the province is very quaint and about 2.5 hours away from Regina.