Top 6 Canadian Cities with the Cheapest Cost of Living

When the world shut its doors during a global pandemic, guess which country continued to keep its immigration quota open?

It goes without saying that Canada welcomes, and still is welcoming foreign nationals with open arms, especially if you’re able to add value to the Canadian labour market.

If you possess a skills set that’s high in-demand in Canada, you stand a great chance of a successful career, as well as a long-term sustainable quality of life in Canada for you and your family. With a wealth of employment opportunities and free universal healthcare in a country that values safety and security, you can have a promising future.

In fact, the 2022-2024 Immigration Levels Plan will be targeting 431,645 newcomers in 2022, which means more job opportunities await foreigners in Canada.

In 2023, we can expect 447,055 newcomers while 2024 will see 451,000 foreign nationals to fill the Canadian labour market.


Source: Canada.ca

So, if you think you have what it takes to live and work in Canada, you would need to know which cities are the most cost effective before you venture into your new life. The data below is derived from Savvy New Canadians and Hardbacon which weighs out the various factors to calculate the cost of living in each city.

Below are factors we’ve compared to give you an idea of your expenses:

  • Price for the cheapest one-bedroom
  • Price for the cheapest house
  • Acreage salary
  • The province or city's main source of income

If you’re unsure of where to start, feel free to get in touch with a Regulated Canadian Immigration Consultant to help you through the process of immigrating to Canada.


But for now, turn on the switches to find out what are the top six cities with the cheapest cost of living in Canada.

1. Thetford Mines, Quebec

Category Average monthly costs
Rental price for the cheapest one-bedroom $500
Rental price for the cheapest house $59, 900
Average salary $61, 670
Main source of employment

2. Saguenay, Quebec

Category Average monthly costs
Rental price for the cheapest one-bedroom $480
Rental price for the cheapest house $65,000
Average salary $63,214
Main source of employment

3. Moose Jaw, Saskatchewan

Category Average monthly costs
Rental price for the cheapest one-bedroom $550
Rental price for the cheapest house $62,900
Average salary $61,571
Main source of employment

4. Regina, Saskatchewan

Category Average monthly costs
Rental price for the cheapest one-bedroom $500
Rental price for the cheapest house $95,000
Average salary $65,600
Main source of employment

5. Prince Albert, Saskatchewan

Category Average monthly costs
Rental price for the cheapest one-bedroom $795
Rental price for the cheapest house $74,900
Average salary $61,571
Main source of employment

6. St. John’s, Newfoundland

Category Average monthly costs
Rental price for the cheapest one-bedroom $795
Rental price for the cheapest house $69,900
Average salary $63,396
Main source of employment

So, there you have it. Now that you have an idea of the cities with the cheapest cost of living, let’s take a look at the cheapest provinces that can offer you and your family a decent quality of life in Canada.

What are the Provinces in Canada with the lowest cost of living?

According to Canadianvisa.org, here are the cheapest provinces that could help you cut costs while you live and work in Canada. Below are the places with the cheapest cost of living.

Winnipeg, Manitoba

Home to polar bears and known for its luscious mountains and lakes, Manitoba definitely classifies as one of the cheapest places with the lowest cost of living in Canada.

  • Apartment rent price: $891
  • House price: $334,256
  • Daily recommended minimum amount of money for food per person, according to Numbeo: $14.04

Manitoba, offering the best of both worlds with nature and city coming together in perfect harmony, with a booming business district, the current in-demand jobs in Manitoba would be finance managers, human resource professionals, property administrators, accounting technicians, bookkeepers and much more.


Nova Scotia

When it comes to places or cities with the cheapest cost of living, Nova Scotia is exactly that since it offers more for less. Well-renowned for its high tides, lobster, fish, blueberries and apples, Nova Scotia is one of Canada’s maritime provinces.

  • Apartment rent price: $909
  • House price: $375,828
  • Daily recommended minimum amount of money for food per person, according to Numbeo: $14.89

For those wanting to live and work in Canada, data-analysts, financial and investment analysts, information system analysts and desk officers would be some of the in-demand jobs in Canada.

New Brunswick

Forming part of one of Canada’s Atlantic provinces, you can enjoy settling in a multicultural community with the Bay of Fundy being the main attraction. The province relies mainly on the forestry, mining, fishing, tourism and agricultural industry.

  • Apartment rent price: $741
  • House price: $274,700
  • Daily recommended minimum amount of money for food per person, according to Numbeo: $14.92


Current in-demand occupations in this province would be nurses, physicians, delivery and courier drivers.

Newfoundland and Labrador

This province is highly driven by natural resources such as extraction and processing of oil, minerals, fish and forestry. While farming is a huge economic factor in the province, it can be affected by climate changes.

  • Apartment rent price: $741
  • House price: $274,700
  • Daily recommended minimum amount of money for food per person, according to Numbeo: $14.92
Home to iceberg alley, Newfoundland and Labrador are renowned for their wonderful sights- of mountainous icebergs that float by. The current employment opportunities in this province would be tradespeople, professionals, research, health care, fishery and agriculture.

A Final Word on the Cities with the Cheapest Cost of Living

Immigrating to another country is a serious affair which is why it is important to have an accurate idea of what your finances would be like once you move abroad. Bear in mind that a province's economic condition is constantly changing which is why we urge you to conduct thorough research on the province’s employment opportunities, cost of living and safety and security. Additionally, you would need to explore the various programs and visas suitable for your needs and circumstances.

Save yourself the unnecessary hassle and feel free to get in touch with one of our Regulated Canadian Immigration Consultant (RCIC) to advise and guide you through the process.

FAQs

1. Which province is best for living in Canada?

There are a number of provinces that offer a decent cost of living and quality of life in Canada. While the numbers tend to fluctuate, you should always do the necessary research to double-check the current economic situation. Canada also offers a range of immigration options that will suit your needs and circumstances. Furthermore, the current cheapest places in Canada would be Manitoba, New Brunswick, Newfoundland and Labrador and Nova Scotia.

2. Which is the best city to settle in Canada?

Canada has a variety of cities that are ideal for you and your family. However, it all depends on the individual’s needs and circumstances.

3. Which is the best city to settle in Canada?

Currently, Toronto would be among Canada’s highest paying cities. However, the cost of living may be high as well so foreign nationals should ensure that they’ve researched a multitude of factors before deciding to immigrate.