In most parts of Canada, affordable homes are few and far between. But, according to a new report by Point2Homes, there are still plenty of Canadian cities with affordable homes for sale that cost $200,000 or less.
Right now, 24 of Canada’s 50 biggest cities have benchmark home prices that are higher than $1 million, the report says.
Listings below $200K are “nonexistent” in Canada’s most desirable and red-hot housing markets.
While cities in provinces like Ontario and BC have a very small percentage of homes for sale for $200K, they are much easier to find in other parts of the country.
Cities in Atlantic Canada and The Prairies have the highest shares of homes under $200K according to Point2Homes.
However, there are still many desirable places to live that have homes within this price range.
The report breaks down the share of $200K listings in Canada’s largest cities with a percentage.
The highest percentage is in Cape Breton, Nova Scotia at nearly 45%.
Here are 10 Canadian cities with affordable homes for sale for $200K or less, and the percentage of these listings in each city.
- Cape Breton, NS: 44.20%
- Regina, SK: 36.50%
- Saint John, NB: 26.72%
- Lethbridge, AB: 26.10%
- Edmonton, AB: 24.63%
- Saskatoon, SK: 23.47%
- Winnipeg, MB: 23.45%
- Red Deer, AB: 22.80%
- St. John’s, NL: 13.46%
- Quebec, QC: 9.85%
In Ontario, the cities with the largest share of listings under $200K are Waterloo at 3.13% and Kawartha Lakes at 2.62%.
In BC, Maple Ridge has the largest share at 0.77%.
If you’re looking to enter the housing market, these cities are the best place to do so!