We know that there are some wildly expensive provinces across the country, but don’t let that discourage you from staying within our borders. Those looking for a comfortable place to live have a ton of options from coast to coast, some of which are pretty cheap!
If you’re among the many in need of a change but don’t want to spend an arm and a leg to get it, don’t book a flight just yet, because a new list has revealed the most (and least) affordable places to live in Canada.
In the recent study conducted by savvynewcanadians.com, personal finance experts ranked each province by cost-effectiveness and what they found was surprising!
Recent Posts:
Calgary just landed Canada’s first Team Town Sports store & it’s huge
Western Canada’s longest summer tube slide opens in Alberta opens today
View this post on Instagram
From the estimated income-to-expense ratio of each location and the average estimated expenditure per household, and by taking combing through the median after-tax income for economic families, the company was able to assign an affordability score for each province.
“The data was sourced from the government website, Statistics Canada,” they revealed.
“This information provides a snapshot of the current financial landscape of Canadian provinces, revealing the feasibility of families maintaining a comfortable lifestyle.”
So what did they find? Well, as it turns out Quebec is the most affordable province in Canada, with an estimated income-to-expense ratio of 1.5, while the most expensive seemed to be British Columbia, which had an income-to-expense ratio of only 1.23.
As for the rest of the provinces, savvynewcanadians.com published the following:
They also ranked the most and least expensive cities in the country for those who prefer specifics:
5 CHEAPEST CITIES IN CANADA
- Regina, Saskatchewan – 83.4
- Quebec City, Quebec- 88.5
- Saskatoon, Saskatchewan -89.6
- Winnipeg, Manitoba – 89.8
- Red Deer, Alberta – 90
View this post on Instagram
5 MOST EXPENSIVE CITIES IN CANADA
- Vancouver, British Columbia – 121.3
- Toronto, Ontario – 118.6
- Victoria, British Columbia – 117.4
- Markham, Ontario – 114.5
- Nanaimo, British Columbia – 108.6
So there you have it! The most affordable places to live in Canada right now. Will you be moving or are you staying put? Let us know why or why not over on social media.
