Comparing the Highest and Lowest Cost-of-Living Cities in Canada

By: Mackenzie Scibetta, Zoocasa contributor

Housing costs and average incomes largely determine the cost of living. If rent prices are extremely high in a city compared to local salaries, it’ll have a high cost of living. Alternatively, low home prices and high salaries will contribute to a lower cost of living.

Of course, average grocery prices, transportation costs, and other daily expenses also will play a role in shaping how affordable or unaffordable a city is. With housing costs often representing the greatest share of household spending, they’re the key driver of overall affordability.

To guide buyers and renters toward affordable options, Zoocasa compiled home prices, rental rates, and incomes across some of Canada’s highest- and lowest-cost cities.

The Highest Cost-of-Living Cities in Canada

While some of these cities offer higher average salaries, they’re often offset by elevated housing costs. If you want to live in one of Canada’s most expensive markets, be prepared to pay the price. But the reward is often a mix of beautiful landscapes and easy connections to vibrant cities.

Vancouver, BC

• Median household after-tax income: $79,500
• Average home price: $1,230,815
• Average Rent: $2,820

Vancouver is one of Canada’s most picturesque cities, surrounded by snowcapped mountains, the Pacific rainforest, and the ocean. Being close to such exquisite nature comes at a price, however. Vancouver has the highest average asking rents in the country, according to Rentals.ca. Home prices are also steep, with desirable coastal properties often listed at more than $2 to $3 million.

Victoria, BC

• Median household after-tax income: $75,000
• Average home price: $1,001,177
• Average Rent: $2,314

Victoria, a picturesque seaport city in British Columbia, is often called the “Garden City” thanks to its mild climate and lush greenery. However, affordability remains a challenge: The average home price is around $1 million, and rents exceed $2,300. These costs place Victoria among the highest cost-of-living cities in Canada.

Toronto, ON

• Median household after-tax income: $74,000
• Average home price: $1,022,143
• Average Rent: $2,606

Toronto, Canada’s largest city and Ontario’s capital, is a cultural hub known for the Toronto International Film Festival, major sports teams, and world-class concerts. Despite relatively high incomes, affording the city’s $1 million average home remains a challenge, and with the second-highest rents in the country, renting isn’t much easier.

Burlington, ON

• Median household after-tax income: $94,000
• Average home price: $1,075,789
• Average Rent: $2,385

Situated along the shores of Lake Ontario, Burlington offers a balance of small-city charm and easy access to the Greater Toronto Area. That desirable location comes at a cost: The average home price is just more than $1 million, while average rent is $2,385, making it one of the pricier markets in Canada.

The Lowest Cost-of-Living Cities in Canada

While affordability can be hard to come by, these low cost-of-living cities stand out for their accessible home and rental prices. They also offer access to nature and a balanced lifestyle, making them attractive options for those seeking value without sacrificing quality of life.

Regina, SK

• Median household after-tax income: $78,500
• Average home price: $364,524
• Average Rent: $1,432

The capital of Saskatchewan offers more than meets the eye, with abundant parks, sports facilities, and museums that contribute to a high quality of life. It’s also an ideal city for nature lovers. A higher median after-tax income of $78,500 further enhances affordability, helping residents manage the average home price of $364,524.

Quebec City, QC

• Median household after-tax income: $65,500
• Average home price: $478,193
• Average Rent: $1,668

Want to live in one of the most historic and charming cities in the country? It won’t cost you as much as you think. Sitting on the Saint Lawrence River, Quebec City offers residents a low cost of living and a cultural richness that makes it one of the most unique places to live in Canada.

Windsor, ON

• Median household after-tax income: $73,000
• Average home price: $551,855
• Average Rent: $1,691

While home prices in Windsor are somewhat higher than in other low cost-of-living cities, it remains one of the most accessible markets for homeowners in Ontario. Windsor’s main waterfront is directly opposite Detroit, making it one of the most connected cities for cross-border work and culture.

Saint John, NB

• Median household after-tax income: $65,500
• Average home price: $355,180
• Average Rent: $1,391

Saint John is a historic seaport, known as the oldest incorporated community in Canada. Home prices here are some of the most affordable in the country, making homeownership well within reach for local residents. The city also offers access to the Bay of Fundy’s natural beauty, a growing arts scene, and a vibrant surrounding community.

What to Consider Beyond Cost of Living

Crunching the numbers on how much it will be to live (and thrive) in a city is an important factor, but it’s only part of the picture. Employment opportunities, lifestyle preferences, and long-term housing trends also play key roles. Working with a qualified real estate agent can help you find not only the best city to call home, but also the property that best fits your budget and needs.

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Sources:
Rent prices were sourced from Rentals.ca
Average home prices were sourced from the Canadian Real Estate Association (CREA) and the Toronto Regional Real Estate Board (TRREB).
Average incomes were sourced from Statistics Canada

Contributor’s Bio: Mackenzie is the Senior Specialist of Public Relations and Content Marketing at Zoocasa, an award-winning prop-tech company that uses technology to provide an intelligent, end-to-end real estate experience. As a dedicated real estate writer, Mackenzie is known for her comprehensive and data-driven reports, which track and analyze trends in local markets across North America.