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Home » Housing, Jobs, & Money

The 10 Cheapest Cities to Buy a Home in Canada

Submitted by on December 6, 2012 – 8:02 amNo Comment

Along the riverfront in Windsor Ontario CanadaIf 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:

City Rank Average Home Price
Windsor, ON 1 $170,991
Rimbey, AB 2 $201,950
Welland, ON 3 $218,354
New Glasgow, NS 4 $218,641
Amherst, NS 5 $224,662
Niagara Falls, ON 6 $228,858
Trail, BC 7 $232,300
Smiths Falls, ON 8 $232,343
Trent Hills, ON 9 $237,800
Cornwall, PE 10 $239,750

 

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)

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