1: Regina

Saskatchewan capital’s wins with a score of six points, making it our No. 1 choice.

Regina ranks as the most affordable metro area in all Canada, with an average home price of $266,800, according to Zoocasa. Home prices in Regina have increased only about 1.6% this year, as of March 2022.

Regina also ranked fifth in BMO’s labour market assessment, moving up eight spots from a year earlier.

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2: Saskatoon

Another city from Saskatchewan made the list after winning 12 points.

Saskatchewan's largest city ranked first in BMO’s labour market report card, moving up 13 spots from a year earlier. Saskatoon is also the 11th cheapest city in Canada, with an average house price of $334,600, up by only 3.4% in the last year.

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3: Moncton

New Brunswick’s most populous city, Moncton, is the third choice after scoring 19 points.

Moncton is ninth in BMO’s labour performance report, up by 16 spots from last year. It is also the 10th most affordable city in Canada, according to Zoocasa, with average home prices of about $333,200. However, home prices were up by a whopping 36.6% in the past 12 months.

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4: Winnipeg

Manitoba’s capital wins fourth place, with 23 points.

Winnipeg ranks 10th in BMO’s labour performance report and is the 13th most affordable city, with an average price of $345,500. The average home price has increased 13.6% in the past 12 months.

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5: Edmonton

Yet another capital wins here. Alberta’s capital is fifth with 26 points.

Edmonton is the 14th most affordable city. Homes are around $363,900, with an increase of 9.3% in the past year.

Edmonton also ranked 12th in BMO’s labour market report after moving up 11 spots.

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Check out the full rankings of Canada’s most affordable cities, and best job markets, below:

Most affordable places:

  1. Regina — $266,800 — 1.6 (% change vs. in the last year)
  2. Saint John — $273,800 – 29.1
  3. Fredericton – $281,900 – 30.8
  4. Saskatchewan – $291,200 – 3.1
  5. St. John's — $294,400 – 9.2
  6. Sault Ste. Marie – $302,200 – 46.5
  7. New Brunswick — $302,300 – 33.2
  8. Quebec City — $327,700 — 15.8
  9. Newfoundland & Labrador – $332,200 — 12.3
  10. Greater Moncton — $333,200 — 36.6
  11. Saskatoon – $334,600 —-3.4
  12. Prince Edward Island — $338,700 — 26.3
  13. Winnipeg — $345,500 — 13.6
  14. Edmonton — $363,900 — 9.3
  15. Nova Scotia — $397,900 — 37.3
  16. North Bay — $450,200 — 42.8
  17. Halifax-Dartmouth — $499,000 — 36.9
  18. Calgary — $502,800 — 17.2
  19. Bancroft and Area — $532,300 – 40

Source: Zoocasa

Cities with the strongest labour markets

  1. Saskatoon, Sask. (up by 13 places in the past year)
  2. Guelph, Ont. (up by 19)
  3. St. Catharines, Ont. (up by 29)
  4. Peterborough, Ont. (up by 14)
  5. Regina, Sask. (up by eight)
  6. Oshawa, Ont. (up by 13)
  7. Victoria, B.C. ( up by one)
  8. Sudbury, Ont. (up by 23)
  9. Moncton, N.B. (up by 16)
  10. Winnipeg, Man. (up by 14)
  11. London, Ont. (down by four)
  12. Edmonton, Alta. (up by 11)
  13. Vancouver, B.C. (up by four)
  14. Toronto, Ont. (up by 14)
  15. Kitchener, Ont. ( down by one)
  16. Thunder Bay, Ont. (up by 13)
  17. Halifax, N.S. (down by 14)
  18. Sherbrooke, Que. (down by 9)
  19. Montreal, Que. (up by one)
  20. Quebec City, Que. (down by 15)

Source: BMO Economics

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About the Author

Dina Al-Shibeeb

Dina Al-Shibeeb

Staff Writer

Dina Al-Shibeeb is an award-winning journalist with hyperlocal and international experience in various news formats. She began her reporting career covering the Arab Spring and its aftermath for a Dubai-based news station. She has since worked in Canadian media, covering municipal affairs in Vaughan, Ont., for Metroland Media. Her work has also appeared at the Toronto Star.

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