The perfect Canadian home at a price that won’t break the bank is out there. You just need to know where to look! Across Canada, several provinces and cities offer homes at much more reasonable costs.
Places like New Brunswick and Newfoundland consistently keep prices low. Meanwhile, parts of Quebec and Alberta—including some of the lovely towns near Calgary—also offer great value.
Here’s where your money goes furthest in Canada’s housing market.
Tips For Affordable Housing in Canada
- New Brunswick has some of the lowest home prices in Canada, under $400,000
- The average home in Newfoundland costs $291,300, with St. John’s at $335,400
- Saskatchewan’s average home price sits at $324,400
- Red Deer has plenty of homes for less than $500,000
- In Thunder Bay, many homes sell for under $300,000
Cheapest Canadian Provinces for Homebuyers
Looking for budget-friendly housing in Canada? Put New Brunswick, Newfoundland and Labrador, and Saskatchewan at the top of your list. Each place has its charm and gives you more bang for your buck—two things home buyers really want.
New Brunswick
Canada has plenty of expensive housing markets, but New Brunswick breaks the mould. New Brunswick is one of the three Maritime provinces, bordered by Nova Scotia to the southeast, Quebec to the north, and the US state of Maine to the west.
The median price of homes in this province is in the low $300s, making it one of the most budget-friendly provinces.
After taxes, the average household here makes about $72,000 a year. This means most people can handle their mortgage payments without stressing about money.
Want even better deals? Check out northern New Brunswick, where prices drop even lower.
Newfoundland and Labrador
Another wallet-friendly option is Newfoundland and Labrador, with an average house price of $291,300. With just over 1.35 people per square kilometre, there’s plenty of space to stretch out in Canada’s easternmost province.
St. John’s costs the most in the province, with homes averaging $335,400. It’s home to many of the top attractions in the region, including The Rooms, a cultural facility and art museum.
Look outside the capital city for even better deals. The average household brings home about $75,000 yearly, creating a good balance between income and housing costs.
With just over 500,000 residents, Newfoundland and Labrador offers everything from city living to quiet rural homes.
Saskatchewan
Want affordable Canadian housing? Saskatchewan delivers with an average home price of $324,400.
The math works in your favour here—the average household makes around $84,000, making it easier to afford a home in this market.
Regina homes average about $268,000, while Saskatoon comes in higher at $395,300. Both cities offer solid value.
Saskatchewan’s stable job market makes it even more attractive. Plus, you’ll find plenty of outdoor activities and cultural events to enjoy.
Alberta’s Cheapest Places to Buy a Home
Alberta offers great home-buying bargains in Red Deer, Medicine Hat, and Airdrie. While not among the cheapest cities in the country, their affordability shines when compared to nearby homes in Calgary and Edmonton.
Each city combines low housing costs with nice amenities and strong community features.
Red Deer
Red Deer ranks among Canada’s most affordable places to buy a home. Many houses here cost under $500,000. With average household incomes around $103,000, many residents can handle mortgage payments without financial stress.
The city is almost exactly midway between Alberta’s two largest cities: it’s 150 kilometres north of Downtown Calgary and 155 km south of Downtown Edmonton!
Red Deer has about 100,000 residents enjoying over 100 kilometres of multi-use trails. Locals love Bower Ponds and Waskasoo Park for outdoor activities. The downtown core offers a farmers’ market, unique shops, and local restaurants.
Compared to living costs in Calgary or Edmonton, Red Deer is extremely affordable. It also offers solid job options across different industries, especially in healthcare, education, oil and gas, and retail.
This mix of housing value, employment, and lifestyle makes Red Deer very attractive for new residents.
Medicine Hat
For budget-conscious buyers, Medicine Hat stands out. Homes here average around $247,000, making it one of Canada’s most affordable cities.
Daily expenses won’t break the bank, either. Medicine Hat offers affordable living without sacrificing quality or lifestyle.
Known as the “Gas City” due to its natural gas resources, Medicine Hat has about 65,000 residents who enjoy more than 2,200 hours of sunshine yearly. This places it among the sunniest cities in Canada!
The city features over 100 parks and 92 kilometres of trails along the beautiful South Saskatchewan River. Downtown offers historic architecture, local shops, and a growing arts scene.
The stable local economy, with jobs in manufacturing, healthcare, and retail, helps keep housing prices reasonable. The city runs its own utilities, often resulting in lower costs for residents. Add in a strong community feel and plenty of recreation options, and you’ve got a winner for value-seeking homebuyers.
Airdrie
Airdrie offers more affordable housing than nearby Calgary. Homes in Airdrie average in the mid-$500s.
You’ll find many housing types, including single-family homes, townhouses, and condos. Airdrie’s condos list in the $200s, offering low-maintenance affordability.
Located just 20 minutes north of Calgary, this growing city of 80,000 maintains a small-town feel with big-city convenience. Residents love the 140+ acres of parks, sports facilities, and recreation centers like Genesis Place.
The community hosts popular events like the Airdrie Festival of Lights and farmers’ markets. Nose Creek Regional Park serves as the central gathering spot with playgrounds, paths, and open spaces.
Living costs less here than in Calgary, yet you’re close enough to enjoy big-city jobs and amenities. Many residents commute to Calgary for work but enjoy coming home to Airdrie’s quieter neighbourhoods and strong sense of community.
Chinook Gate, one of the best master-planned communities near Calgary, is one of the most popular neighbourhoods in the city. This perfect balance makes Airdrie very popular with homebuyers.
British Columbia’s Cheapest Places to Buy a Home
British Columbia can be expensive, but Kamloops and Prince George offer more affordable options while still allowing you to enjoy the province’s beauty and lifestyle.
Kamloops
Kamloops is one of British Columbia’s more affordable cities, especially compared to the sky-high prices in Vancouver and Victoria. Average housing costs here hover around $650,000.
The city offers many housing options to fit your budget and needs. A stable economy with jobs in healthcare, education, and tourism makes Kamloops solid for new residents.
The natural beauty and outdoor activities add huge value to living in Kamloops, making it an appealing choice for budget-conscious homebuyers.
Prince George
Prince George offers one of BC’s most affordable housing markets. Average home prices are around $392,000, much cheaper than in other major BC cities.
Beyond home prices, you’ll pay less for utilities and transportation than in bigger cities.
Prince George isn’t just about saving money. The city has a diverse economy with jobs in forestry, healthcare, and education. You’ll also enjoy plenty of recreational activities and easy access to nature.
Ontario’s Cheapest Places to Buy a Home
Ontario has some expensive housing markets, and homebuyers often compare living in Alberta with Ontario. It’s the lower cost of living in Alberta’s biggest cities compared to Toronto and Ottawa that swings many buyers.
However, Thunder Bay and Windsor offer more affordable options than Toronto and Ottawa.
Thunder Bay
While many Canadians struggle with high housing costs in big cities, Thunder Bay offers a different story. Many homes here sell for less than $300,000.
Households typically spend just 22.2% of their income on mortgage payments, much less than in Toronto or Vancouver. With median household incomes of $81,800, residents can manage these costs without stress.
Monthly mortgage payments average $1,563.25, making homeownership realistic. Thunder Bay keeps growing in popularity as people discover its perfect balance of affordability and quality of life, along with beautiful outdoor spaces like Mission Island Marsh.
Windsor
Windsor’s housing market remains affordable, with average home prices around $535,000. This makes it perfect for first-time buyers looking for value.
Windsor offers many housing options—from single-family homes to modern condos—fitting various budgets. The stable job market in manufacturing, healthcare, and education adds to Windsor’s appeal for those wanting to settle down affordably.
Quebec’s Cheapest Places to Buy a Home
Quebec offers more affordable housing options than many people realize. Saint-Georges and Baie-Comeau stand out as particularly budget-friendly choices.
Saint-Georges
Saint-Georges is one of Quebec’s most affordable cities, which is one of the most important factors when choosing a location to buy a house. While luxury chalets occasionally top $1 million, homes here usually list from the mid-$100s to the $500s.
The lower cost of living compared to big cities means more financial freedom while still enjoying important amenities and fun activities. Saint-Georges also offers diverse job opportunities, making it attractive for those seeking stability.
Baie-Comeau
Despite its small size, Baie-Comeau offers some of Quebec’s most budget-friendly housing. Average home prices hover in the high $200s, well below the provincial average.
This makes Baie-Comeau especially attractive for first-time homebuyers. The stable local economy helps maintain these lower costs, keeping homeownership within reach.
Baie-Comeau’s natural beauty and outdoor recreation add to its appeal for value-conscious buyers.
Best Affordable Places to Buy a Home in Canada
When hunting for an affordable Canadian home, these areas offer both financial relief and unique lifestyles. By looking at these diverse regions, you’re not just buying a house—you’re investing in a place where your dollar stretches further without sacrificing quality of life.
