Canada is a beautiful place to live with friendly people and a high standard of living. However, Canada also has some of the cheapest places to live in.
Fortunately, many places in Canada still offer a high quality of life at an affordable price.
Whether you’re a student, a young professional, or simply looking to downsize, finding a cost-effective location can be a game-changer.
In this article, we will explore the top 5 cheapest places to live in Canada, taking into account data from Numbeo.
We will guide you to the cheapest places to live in Canada. We’ll cover the cost of living, available amenities, and other vital factors to help you determine which location is right for you.
Whatever your taste is, a bustling city or a quiet rural town, there is sure to be an option on this list that meets your needs and budget.
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Factors Affecting Cost of Living in Canada
Before diving into the top 5 cheapest places to live in Canada, it’s important to understand the factors that determine the cost of living.
The following are some of the key factors that impact the cost of living in Canada:
Housing Costs
Housing is one of the largest expenses in any household budget. In Canada, the average cost of housing varies greatly depending on the city, with prices ranging from affordable to exorbitant.
Transportation Costs
Transportation costs in Canada can include gas, public transportation, and car insurance.
In some cities, public transportation is well-developed, making it easier and more affordable to get around. In others, a car is a necessity, which can drive up the cost of transportation.
Food and Grocery Costs
The cost of food and groceries can also vary greatly depending on the city.
For example, prices for fresh produce, meat, and dairy products tend to be higher in urban areas compared to rural areas.
Healthcare Costs
In Canada, the government uses taxes to fund the public healthcare system and provides coverage to all citizens and permanent residents.
Despite this, some healthcare costs, such as prescription drugs and dental care is not part of the coverage and can add up quickly.
Taxes
Taxes in Canada are generally higher than in other countries, but the good news is that Canada has a progressive tax system, meaning that those with higher incomes pay a higher percentage of their income in taxes.
Miscellaneous Expenses
Other miscellaneous expenses can include entertainment, clothing, and personal care products. These costs can also vary depending on the city and individual lifestyle.
The Top 5 Cheapest Places to Live in Canada
Now that we have a better understanding of the factors that determine the cost of living in Canada, let’s take a closer look at the top 5 cheapest places to live in the country.
1. Sherbrooke
Nestled in the southern region of Quebec lies Sherbrooke, a city with a population of 176,222.
Known for its stunning natural beauty and rich cultural heritage, Sherbrooke is also a hub for industries such as electronics, clothing, textiles, and education.
For those seeking a more affordable standard of living, Sherbrooke presents an attractive option.
According to Numbeo, the cost of living in Sherbrooke is a whopping 12.80% cheaper in comparison to Montreal and the average rent is 45.27% lower.
These cost savings make Sherbrooke an ideal choice for individuals or families looking to live in Canada without breaking the bank.
To further break it down, the cost of living for a single person in Sherbrooke is about $1,022.64 (excluding rent), and the average cost of a home is around $249,000.
The annual median income in Sherbrooke is $107,000, providing a relatively stable financial foundation for residents.
2. Quebec City
With a 727,980 population and European-inspired architecture, Quebec City transports visitors to a different time.
The city’s old town has a well-preserved outlook and offers a wealth of cultural and historical sites to explore.
In addition to its picturesque charm, Quebec City is also an attractive option for budget-conscious individuals.
According to Numbeo, the cost of living in Quebec City is 5.50% lower than in Montreal and the average rent is 34.76% cheaper.
The cost of living for a single person in Quebec City is about $1,082.87 (excluding rent), and the average cost of a home is around $459,955.
The annual median income in Quebec City is $40,229.
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3. Laval, QC
Laval is in Quebec situated on the beautiful Île Jésus along the Prairies River and boasts a population of 48,805.
As a suburb of Montreal, it offers a perfect blend of urban convenience and natural beauty.
One of the highlights of Laval is its Nature Center, which features a diverse range of landscapes, including gardens, ponds, and even farm animals.
The Saint-Vincent-de-Paul historic district also stands out, with its impressive neoclassical buildings and charming cafes.
The city’s main sources of employment come from various industries such as retail, industrial, pharmaceutical, and technology.
Major companies in the area include SAP, Intact, and the University of Montreal.
Despite its proximity to Montreal, Laval offers a more affordable cost of living, with an average expenditure of $1,015.72 for a single person, excluding rent.
This is 12.17% lower than that of Montreal.
The average home price in Laval is $567,500, making it one of the cheapest places to live compared to other Canadian cities.
Furthermore, the annual median income in Laval is $70,216, providing residents with a comfortable standard of living.
4. Halifax, NS
Halifax, Nova Scotia is a city of unyielding fortitude, proud of its heritage and determined to chart a bold path forward.
Boasting a population of 417,000, Halifax is home to Dalhousie University, ranked 11th among Canada’s universities.
This port city is a hub of economic activity, driven by its thriving industries in agriculture, fishing, forestry, and the bustling port that keeps commerce flowing.
For those seeking to call Halifax home, the cost of living presents a unique challenge. While dining out may be an affordable option, the cost of groceries can be higher.
However, when compared to the towering expenses of Toronto, Halifax offers an attractive alternative with a cost of living that is 0.83% higher but housing that is 34.62% lower.
Despite this, the annual median income in Halifax is a robust $124,000, offering residents the means to enjoy all the city has to offer.
In Halifax, residents have access to an array of government services and private businesses that cater to their needs.
The city is a thriving center of commerce and culture, where each day presents a new opportunity to explore and experience the rich tapestry of this dynamic community.
Whether you are a student, a professional, or a retiree, Halifax is a city that has something to offer everyone, and it is a place where anyone can find a sense of purpose and belonging.
5. Abbotsford
Abbotsford, British Columbia is a city with a population of 168,773. Located near the United States border and surrounded by farm country, agriculture is a major source of employment in the area.
The cost of living for a single person, excluding rent, is about $1,113.70. The average home cost in Abbotsford is $804,833 and the annual median income is $72,511.
Abbotsford is close to Vancouver and is one of the largest and most affordable cities in British Columbia.
It has a cost of living that is 17% lower compared to other cities. The rent in Abbotsford is also 35.45% lower than in Toronto.
With its moderate temperature, Abbotsford is one of the warmest places to live in Canada.
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Conclusion
Choosing a place to live in 2023 can be a daunting task, especially for those looking for affordability.
However, there are several cities across the country that offer a low cost of living without sacrificing the quality of life.
These cities have strong economies, affordable housing, and a comfortable climate.
No matter what your budget is, there is a city that can offer the lifestyle you are looking for.
It’s important to research and compare different cities before making a decision, taking into account factors such as cost of living, employment opportunities, and quality of life.
