The 10 Cheapest Cities to Buy a Home in Canada
If you want to buy a four-bedroom, two-bathroom house, the cheapest city in Canada is Windsor, Ontario, where your “dream home” will cost an average of $170,991.
But if you’d rather settle in Vancouver, which frequently ranks among the best places in the world to live, that same home will set you back a cool $1.8 million.
A new study by Coldwell Banker Real Estate found that five of the ten most affordable markets in Canada are in Ontario, with three additional markets in Atlantic Canada, one in Alberta, and one in British Columbia.
Surprisingly, Niagara Falls — often considered Canada’s top tourist attraction — is one of Canada’s least expensive cities to buy real estate, ranking #6 in the Coldwell Banker study.
The 10 cheapest Canadian cities include:
||Average Home Price
|New Glasgow, NS
|Niagara Falls, ON
|Smiths Falls, ON
|Trent Hills, ON
Vancouver is the nation’s most expensive housing market, with the Vancouver suburbs of Richmond ($1,181,654) and Burnaby ($917,968) close behind.
Among Canada’s other large cities, average prices were $500,233 in Ottawa, $468,474 in Edmonton, $466,183 in Toronto, and $409,900 in Calgary. The study did not include Montreal or Quebec City, where prices are typically below those in Canada’s other major metropolitan areas.
Click here for the full Coldwell Banker Home Listing Report.
And for another take on Canada’s cheapest cities, see our recent post, Canada Real Estate: The Cost of Buying a Home, which recapped the Canada Mortgage and Housing Corporation’s fourth quarter 2012 report on Canadian real estate prices.
Windsor Ontario riverfront photo by Andrea_44 (flickr)