These Canadian Cities Have The Most Affordable Homes In 2023 & Here's What You Can Get
Those looking to enter the real estate housing market in Canada may be surprised to know that there are more affordable options out there than they may have thought.
According to real estate experts, many markets have home prices that are below the national average, offering some hope to potential home buyers .
Zoocasa , a real estate company, analyzed the average home price in 20 regions across Canada to give buyers an idea of where they can still find affordable housing in the country.
According to their research, while the national average home price in 2023 is $662,437, there are 14 markets in Canada where prices have fallen below that number.
The cheapest houses in Canada can apparently be found in Saint John, New Brunswick, where the average home price is just $268,400. As an example of what potential buyers can get in this market, Zoocasa shared a listing for a three-bedroom, two-bathroom, 1550-square-foot home listed for $259,900.
The second cheapest housing market can be found in Regina, Saskatchewan, where the average home price is $310,200.
For below that price, buyers can find a house like 355 Avon Dr. , a well-appointed two-bedroom, four-bathroom home that's 1,800 square feet in size and listed for $299,990.
Next, Quebec City was found to have the third-cheapest housing market in Canada, with an average home price of $315,300, still well below the national average.
What might be surprising to potential home buyers is that some regions thought to have unattainable prices may be a bit more affordable than previously thought.
For example, while Ontario's housing market is certainly much different than that of New Brunswick, the province still has several regions where home prices fall below the national average, including the Niagara region, Ottawa, London, St. Thomas, Windsor-Essex and Sudbury.
Which Canadian cities have the least affordable housing?
On the flip side, some regions have homes that remain well above the national average.
Unsurprisingly, Vancouver and Toronto were both found to have average home prices way over that of the average in Canada, at $1,123,400 and $1,091,300, respectively.
Notably, the other markets found to have home prices above Canada's average are all located in Ontario and B.C.
Canadian cities with most affordable housing
Here are some of Canada's most affordable regions , according to Zoocasa, and their average home prices in 2023:
- Saint John, New Brunswick - $268,400
- Regina, Saskatchewan - $310,200
- Quebec City, Quebec - $315,300
- Winnipeg, Manitoba - $329,900
- Edmonton, Alberta - $365,100
- Saskatoon, Saskatchewan - $372,400
- Sudbury, Ontario - $401,100
- Halifax-Dartmouth, Nova Scotia - $484,000
- Montreal, Quebec - $503,900
- Calgary, Alberta - $518,100
- Windsor-Essex, Ontario - $565,400
- London and St. Thomas, Ontario - $583,500
- Ottawa, Ontario - $613,000
- Niagara, Ontario - $627,500
This article's right-hand cover image was used for illustrative purposes only.
A chart comparing average home prices, income required for a home purchase and median household income by city.
