Top 10 Cheapest Real Estates in Canada (2023)

The COVID-19 pandemic left in its wake a huge number of Canadians working remotely, and real estate was fast becoming a hot topic of discussion amongst a lot of the citizens of the Maple country. The demand for real estate soon started to be greater than the supply, which further led to a drastic increase in the prices of properties in the Canadian real estate market.

Many Canadians resorted to various alternatives like moving to smaller cities, sharing a property with compatible neighbors, and merging cash with other people to acquire a property to cope with the ever-increasing prices of real estate properties. However, some Canadian cities offer real estate properties at affordable prices, and St. John Metro NL tops the list of cities with the cheapest real estate in Canada, with an average home price of CAD$ 307,619.

Top 10 Cheapest Real Estates in Canada

1. St. John Metro, NL 

Situated on the Newfoundland Island right on the eastern slope of the Avalon Peninsula stands the capital and biggest city of Newfoundland and Labrador, covering 446.04 km². The world-famous maple tree is abundant in the vegetation of the city. The city is also renowned as the center of the Eastern Canadian oil and gas industry, as evident by the operations of multinational oil and gas companies in the city.

Tourism, entrepreneurial activities, and architectural constructions are major contributors to the capital city’s economy. The city is also renowned for its love for music which is glaring with the city’s various choirs, string quartets, and symphony orchestras. The city offers one of the cheapest real estates in Canada, with an average home price of CAD$ 307,619.

2. Regina 

The capital and second-biggest city of Saskatchewan is situated in central Canada, and it also doubles as the commercial hub of the province. Regina is mostly a savannah city with mining, manufacturing, transportation, information technology, agriculture, energy, and insurance as dominant sectors of the city’s economy. 

Regina is home to EVRAZ, the biggest steel company in all of western Canada; however, the city is faced with the unavailability of labor. With numerous parks, museums, recreation amenities, and events in the capital city, you will never run out of activities to do. The average home price in Regina is priced to be CAD$ 325,000.  

3. Winnipeg 

Fondly called the Heart of the Continent, Winnipeg, the biggest savannah city in Canada, is the capital and biggest city in Manitoba, situated on the convergence of the Assiniboine and Red rivers. Winnipeg has been categorized as one of the reckless budding and varied economy in Canada. The city has been an immigration destination for many foreigners with its varied and multinational culture. 

Winnipeg is home to the Centennial Concert Hall, the Canadian Museum for Human rights, and the world-famous Winnipeg Folk Festival. The various Japanese, Indian, Scandinavian and Filipino restaurants located across the city are a great spot for foodies to explore. The average home price in Winnipeg is CAD$ 335,055.

4. Edmonton 

Located along the North Saskatchewan River, Edmonton, Alberta’s capital city, is fondly referred to as the Gateway to the North. Oil and gas, technology, finance, logistics & distribution, and retail are huge contributors to the city’s economy. The city was once tagged as the Oil Capital of Canada in the early 1900s due to the city’s immense oil and gas reserves. 

Alberta’s capital city is home to the biggest living history museum in Canada, the Fort Edmonton Park, and the biggest North American shopping mall, the West Edmonton Mall. With the city’s beautiful natural environment, various museums, art galleries, and parks, there is always something new to do or see. The average home price in Edmonton is CAD$ 400,000.

5. Ottawa 

The capital city of Canada is located on the southern bank of the Ottawa River in Ontario, and it is the fourth biggest city in the country. The city is largely renowned for its safety and cleanliness, and its residents are also renowned for being well educated. Technology, tourism, health, agriculture, retail sales, manufacturing, construction, forestry, transportation, and mining are huge contributors to the economy of Ottawa. 

Various art galleries, museums, festivals, and parks beautify the capital city. During winter, the Rideau Canal transforms into the world’s biggest frozen skating arena. The city offers one of the cheapest real estates in Canada, with an average home price of CAD$ 561,701.

6. Calgary 

Located at the confluence of the Bow and Elbow Rivers, Calgary is a city in Alberta that is the third-biggest city in Canada, with a land area of 848 km². Health, energy, technology, retail, finance, film and television, mining, manufacturing, aerospace, agriculture, tourism, transportation, and logistics, are dominant sectors of the city’s economy. 

The city is replete with a diverse fusion of shopping malls, restaurants, bars, museums, art galleries, parks, gardens, historic sites, cultural locations, and public squares. Calgary offers affordable real estate in Canada, with an average home price of CAD$ 585,541.

7. Windsor 

Nicknamed the Automotive Capital of Canada owing to its huge contributions to the country’s automotive industry, Windsor is a city located on the south bank of the Detroit River in the southeastern part of Ontario. Manufacturing, education, tourism, alternative energy, technology, pharmaceuticals, and insurance are dominant sectors of the city’s economy. 

Windsor is replete with various art galleries, parks, historic sites, museums, gardens, and a music theatre. The city is renowned for hosting an annual festival that lasts for two weeks and is tagged as the Windsor-Detroit International Freedom Festival, which climaxes in a huge firework display to celebrate Canada day. The average home price in Calgary is CAD$ 542,046.

8. London 

London is located along the Quebec city-Windsor passageway in southwestern Ontario, and it is nicknamed The Forest City due to the city’s natural trees beauty and green scenery. The city’s economy is largely dominated by the healthcare, manufacturing, information technology, insurance, education, agriculture, and professional services sectors. 

The city is replete with museums, libraries, theaters, restaurants, bars, historic sites, event venues, annual fairs, and festivals. London is also replete with diverse cultural backgrounds and roots. The city offers one of the cheapest real estates in Canada, with an average home price of CAD$ 636,033.

9. Oshawa 

Oshawa meaning the crossing place is located on the coast of Lake Ontario in Southern Ontario. It is nicknamed Canada’s Motor City due to the presence of the headquarters of General Motors Canada. The manufacturing, education, film, and television sectors are huge contributors to the city’s economy. 

There is never a dull moment in Oshawa as the city is replete with parks, gardens, conservation areas, wildlife reserves, museums, historic sites, walking paths, indoor and outdoor public swimming pools, and community centers. The city also hosts various annual festivals, and it offers affordable real estate, with the average price of a home priced at CAD$ 775,987.

10. Hamilton 

Located on the western coast of Lake Ontario in Southern Ontario, Hamilton is a port city nicknamed the Steel Town owing to the city’s booming steel industry. The manufacturing and tourism sectors are major contributors to the city’s economy. Additionally, the city is home to Arcelor Mittal, the biggest steel producer in the world. 

The city is also home to the world-famous Dundurn Castle and other historic sites and tourist attractions. Hamilton is replete with various museums, gardens, parks, and art galleries, so there can never be a dull moment in the city. The city occupies the last spot on our list of cities that offer the cheapest real estate in Canada, with an average home price of CAD$ 784,721. 

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Conclusion 

Thankfully, you can now acquire a house of your choice at affordable prices in the cities outlined above that offers affordable real estate in Canada. You don’t have to explore the various uncomfortable alternatives that many Canadians have resorted to in coping with the ever-increasing price of real estate in the country. St. John Metro in Newfoundland and Labrador offer the cheapest real estate in Canada. 

If any of the cities outlined above caught your fancy, please head over to the comment section to tell me all about them, as I am looking forward to hearing from you. Your comments, opinions, and thoughts are also warmly welcome in the comments section below, so please keep sending them in.