20 Cheapest Cities to Live in Canada (2026)
With the current state of the economy, we don’t blame you if you’re on the hunt for the cheapest places to live in Canada. With the high cost of living in most of Canada, finding the best place to live in the most affordable province or city can be challenging.
Living in a city with a low cost of living can help you stretch your budget and save money over time. The Globe and Mail recently published its top 100 most liveable cities list. The published list ranked the top cities by housing affordability. Coupled with the most recent data from the Rentals.ca report, we’ve compiled a list of the top 20 cheapest cities to rent and own.
Key Takeaways
- Many of the most affordable cities in Canada are located in Quebec.
- The most affordable cities to purchase a home are, on average, almost 2.5x less expensive than the national average home price.
- The most affordable cities to rent a home are, on average, nearly 1.5x less than the national average rental price.
10 Best Canadian Cities for Housing Affordability
Housing affordability varies widely by region, with smaller cities offering far more attainable ownership opportunities than major metropolitan areas. The following cities ranked among the best in the country for housing affordability based on factors highlighted in the Globe and Mail’s most liveable cities list.
1. Mont-Laurier, Quebec
Mont-Laurier is a small town in the Laurentians with a population of roughly 15,000. The city dubbed the “Capital of the Upper Laurentians” is the unofficial capital of the region, acting as the service hub for surrounding rural communities.
Average home price: $305,686
Median household income: $71,441
2. Thetford Mines, Quebec
Thetford Mines is a city in south-central Quebec located on the Becancour River in the Appalachian Mountains. With a population of around 27,000, it is best known as the asbestos capital of Canada. Though the mines are now closed, Thetford Mines was one of the world’s largest asbestos mining and production centres in the 20th century.
Average home price: $221,606
Median household income: $73,734
3. Rivière-du-Loup, Quebec
With a population of approximately 21,000, this small city is in the Bas-Saint-Laurent region. Rivière-du-Loup is a traditional stopover between Quebec City, the Maritimes, and the Gaspé Peninsula, and a prime whale-watching destination on the St. Lawrence River.
Average home price: $317,540
Median household income: $76,185
4. Tracadie, New Brunswick
Tracadie is an Acadian community with around 16,500 residents. While remote, the city is a well-known tourist destination that comes alive in the summer months when the area’s beaches attract tourists from neighbouring Quebec. The location is prime for outdoor activities, including fishing, hiking, and camping.
Average home price: $163,858
Median household income: $74,594
5. Alma, Quebec
Alma, located less than 2 hours north of Quebec City, has a population of approximately 31,000, making it the second-largest city in the Saguenay-Lac-Saint-Jean region. The internationally recognized Blueberry Route begins in Alma and takes riders on a 256km route through the region.
Average home price: $264,424
Median household income: $78,009
6. Sainte-Marie, Quebec
Considered one of the most beautiful towns in Canada, the quiet community of Sainte-Marie is home to roughly 13,000 people. Only 45 minutes from Quebec City, it’s a perfect town for people who want to live a peaceful life without much of a commute to a major urban centre. Located on the shores of the Chaudière River, Sainte-Marie is a charming town.
Average home price: $340,037
Median household income: $88,710
7. Saint-Félicien, Quebec
Saint-Félicien is a community of approximately 10,000 residents located in the Saguenay–Lac-Saint-Jean region. The local economy is based on forestry, dairy production, and tourism. The Zoo sauvage de Saint-Félicien is one of the largest natural habitat wildlife parks in North America, attracting tourists to the region.
Average home price: $264,762
Median household income: $75,801
8. Shawinigan, Quebec
Shawinigan, home to about 53,000 residents, sits along the Saint-Maurice River between Montreal and Quebec City. Due to the Shawinigan Falls on the Saint-Maurice River, the city became known as the Niagara of the East. With its unique geography, the area became one of Quebec’s earliest hydroelectric power hubs, gaining international attention as one of the best hydroelectric sites in North America.
Average home price: $271,953
Median household income: $67,343
9. La Tuque, Quebec
La Tuque is a remote community of roughly 11,300 residents located in central Quebec. The city was named after a nearby rock formation shaped like a toque. Although the city’s urban area is small, the entire agglomeration covers an area comparable to that of Belgium. This also makes La Tuque the largest city in Canada by land area.
Average home price: $229,259
Median household income: $69,173
10. Montmagny, Quebec
Montmagny is a riverside city of approximately 11,000 residents located roughly 45 minutes from Quebec City along the south shore of the St. Lawrence River. The city is best known as the Snow Goose Capital of the World, as thousands of snow geese migrate through the area every spring and fall.
Average home price: $279,700
Median household income: $72,770
Today’s Best Mortgage Rates as of February 20, 2026
10 Best Canadian Cities for Rental Market Affordability
Rental affordability in Canada is being shaped by housing affordability challenges that are keeping many households in the rental market longer than planned. Local housing supply and population growth are increasingly determining which areas remain affordable for renters. The following cities stand out in the most recent Rentals.ca rent report, highlighting where renters can still find manageable housing costs despite widespread pressure across Canada’s rental markets.
1. St. John’s, Newfoundland
St. John’s is the capital and largest city in Newfoundland and Labrador, with a population of around 125,000. It is one of the oldest continuously inhabited cities in North America. St. John’s is also the easternmost city in North America, making it the first place on the continent to see the sunrise each day.
Average monthly rent: $1,208
Median household income: $86,373
2. Lloydminster, Alberta
Lloydminster is a unique border city that straddles Alberta and Saskatchewan, with the provincial boundary running through the centre. The city operates as a single municipality under provincial legislation known as The Lloydminster Charter, which sets out how municipal services and governance function seamlessly across both provinces. However, residents and businesses remain subject to the laws and income tax rules of the province in which their property is located.
Average monthly rent: $1,217
Median household income: $112,591
3. Fort McMurray, Alberta
Fort McMurray is the heart of the oil sands economy, resulting in some of the highest household incomes in the country. Nicknamed Fort Mac, the area is the urban hub of the Wood Buffalo region and has one of the youngest and fastest-growing populations in Canada.
Average monthly rent: $1,371
Median household income: $186,000
4. Medicine Hat, Alberta
Medicine Hat is known as “The Gas City” due to its extensive natural gas reserves, which have historically provided residents with some of the lowest heating and utility costs in Canada. The city also regularly ranks as the country’s sunniest, averaging around 330 days of sunshine each year.
Average monthly rent: $1,390
Median household income: $75,612
5. Quebec City, Quebec
Québec City has a population of approximately 593,000. It is the capital of the province of Québec and is recognized as one of the safest cities in the country. The oldest part of the city is recognized as a UNESCO World Heritage Site. If you’ve ever wanted to feel like you live in a European city, you’d do well to rent an apartment in Old Quebec.
Average monthly rent: $1,493
Median household income: $83,894
6. Regina, Saskatchewan
Regina, with a population of around 257,000, is the capital and second-largest city in Saskatchewan. The area is one of the fastest-growing major cities, with strong manufacturing, agriculture, food, tourism, mining, and oil and gas economies.
Average monthly rent: $1,314
Median household income: $106,546
7. Red Deer, Alberta
Red Deer serves as a key regional hub for both the agriculture and energy sectors and is one of the province’s prime crop-growing regions. The city is also home to Waskasoo Park, a connected system of green spaces spanning more than 700 hectares, making it one of the most extensive urban park networks in Canada.
Average monthly rent: $1,549
Median household income: $92,496
8. Lethbridge, Alberta
Lethbridge is one of Canada’s sunniest cities, averaging 320 days of sunshine each year. The city is also a major agricultural centre, supporting roughly 85% of Alberta’s irrigated farmland. Its high elevation and proximity to the Rocky Mountains contribute to strong, frequent winds, making Lethbridge one of the windiest cities in the country.
Average monthly rent: $1,570
Median household income: $76,648
9. Côte Saint-Luc, Quebec
Côte Saint-Luc is a landlocked municipality on the Island of Montreal, surrounded by the cities of Montreal and Hampstead. The city is predominantly residential and located about 15 minutes from downtown Montreal. It also has one of Canada’s highest concentrations of seniors, with nearly a third of residents living there aged 65 or older.
Average monthly rent: $1,573
Median household income: $84,679
10. Saskatoon, Saskatchewan
Saskatoon serves as the cultural and economic hub of central Saskatchewan. With a population of approximately 314,000, the province’s largest city is a major transit hub served by national railroads, provincial highways, and an international airport. The city is home to the University of Saskatchewan, making it an affordable city for students.
Average monthly rent: $1,614
Median household income: $96,329
Frequently Asked Questions
What is the most affordable city with the cheapest taxes?
Among the cities listed, housing affordability is strongest in smaller markets in Quebec and Atlantic Canadian, where home prices are well below the national average. Cities such as Thetford Mines, La Tuque, and Tracadie combine low purchase prices with manageable municipal taxes, which help offset higher provincial income taxes in Quebec. For many households, housing costs matter more than marginal tax differences, making these cities among the most affordable overall.
What is the most affordable province in Canada?
Quebec is the most affordable province overall for homeownership. Quebec dominates in both ownership and rental affordability, with multiple cities offering home prices well below the national average and rents that remain affordable. New Brunswick also stands out for affordability, particularly for buyers.
Which city is more likely to maintain its low cost of living?
Regina is one of the cities on this list most likely to maintain a relatively low cost of living. Regina combines affordable rents, moderate home prices, and steady but not explosive population growth. Regina has some of Canada’s lowest property tax rates for a mid-sized city, making it the ideal place to live if you eventually want to become a homeowner.
Final Thoughts
Many of the most affordable cities in Canada remain outside the country’s largest metropolitan areas. For renters, these markets offer breathing room to save towards their downpayment as costs rise elsewhere. For buyers, they represent areas where homeownership remains attainable on average incomes. As the cost of living continues to pressure major urban centres, smaller and mid-sized cities are increasingly where affordability, stability, and quality of life intersect for Canadians planning their next move.
Contact a nesto mortgage expert today. We can help you start your homeownership journey in a budget-friendly city.
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