Regina is the most affordable city in Canada to live in and Quebec the most affordable province, according to a recent study..Personal finance company SavvyNewCanadians.com reports Quebec has an income-to-expense ratio of 1.5. The average estimated expenditure for Quebec households is $59,770, while the median after-tax income for an economic family is $89,400..British Columbia was found to be the least affordable province, with an income-to-expense ratio of 1.23. There, household expenses average $79,591 and median family after tax-income is $97,800. .10 Most Affordable Places to Live in Canada.RankProvinceIncome to Expense RatioAverage expenditure per household ($)Median after-tax income for economical family ($)1QC1.559,77089,4002PEI1.4158,18382,0003NB1.3659,75381,5004NS1.3661,36783,5005ON1.3473,80599,1006NL1.3260,34579,7007AB1.3181,992107,5008MB1.2867,04085,7009SK1.2673,23792,30010BC1.2379,59197,800.Quebec tops the list as the most affordable province in Canada, aided by $10-a-day daycare and 25% cheaper tuition fees. The average house price in Quebec is just $457,314, and electricity is cheap at $.073/kWh, thanks to local hydropower. Unemployment is only 4.1%, though the total tax rate of 14.975% is high..Alberta’s utilities, like food and electricity, are on the upper side, but no provincial sales tax or health premiums make up for that. In addition, low-income earners and seniors get transit passes that lower transport costs. Alberta’s housing prices remain lower than the national average..Manitoba boasts lower electricity costs at .099/kWh. And the cost of buying a house is approximately 50% less than the Canadian average. The government offers family affordability packages and a cheaper PST than some provinces..Canada’s ‘sunniest’ province, Saskatchewan, has one of the most affordable housing costs, averaging $282,707. It also boasts cheap food prices as Canada’s ‘breadbasket.’ The province has a high employment rate and thriving agriculture, oil, and manufacturing industries that have begun to attract immigrants. However, Saskatchewan’s electricity rates (.181/kWh) are slightly above the Canadian average..British Columbia is the least affordable Canadian province, largely due to the second-highest cost of living. Buying a house in BC costs a fortune, though housing, food, and gas prices are lower in less popular cities like Marpole and Surrey. Unemployment is slightly lower than the Canadian average, and standards of living are high in Vancouver and Victoria..Five Cheapest Cities in Canada.RankCityCost of Living Index1Regina83.42Quebec City88.53Saskatoon89.64Winnipeg89.85Red Deer90.Regina is the cheapest city in Canada, having an 83.4 cost of living index. This puts Regina’s cost of living 16.6% below the national benchmark of 100..Five Most Expensive Cities in Canada .RankCityCost of Living Index1Vancouver121.32Toronto118.63Victoria117.44Markham114.55Nanaimo108.6.The study ranks Vancouver as Canada’s most expensive city, with a cost of living index of 121.3, vs a national benchmark of 100..The complete study can be read at SavvyNewCanadians.com
Regina is the most affordable city in Canada to live in and Quebec the most affordable province, according to a recent study..Personal finance company SavvyNewCanadians.com reports Quebec has an income-to-expense ratio of 1.5. The average estimated expenditure for Quebec households is $59,770, while the median after-tax income for an economic family is $89,400..British Columbia was found to be the least affordable province, with an income-to-expense ratio of 1.23. There, household expenses average $79,591 and median family after tax-income is $97,800. .10 Most Affordable Places to Live in Canada.RankProvinceIncome to Expense RatioAverage expenditure per household ($)Median after-tax income for economical family ($)1QC1.559,77089,4002PEI1.4158,18382,0003NB1.3659,75381,5004NS1.3661,36783,5005ON1.3473,80599,1006NL1.3260,34579,7007AB1.3181,992107,5008MB1.2867,04085,7009SK1.2673,23792,30010BC1.2379,59197,800.Quebec tops the list as the most affordable province in Canada, aided by $10-a-day daycare and 25% cheaper tuition fees. The average house price in Quebec is just $457,314, and electricity is cheap at $.073/kWh, thanks to local hydropower. Unemployment is only 4.1%, though the total tax rate of 14.975% is high..Alberta’s utilities, like food and electricity, are on the upper side, but no provincial sales tax or health premiums make up for that. In addition, low-income earners and seniors get transit passes that lower transport costs. Alberta’s housing prices remain lower than the national average..Manitoba boasts lower electricity costs at .099/kWh. And the cost of buying a house is approximately 50% less than the Canadian average. The government offers family affordability packages and a cheaper PST than some provinces..Canada’s ‘sunniest’ province, Saskatchewan, has one of the most affordable housing costs, averaging $282,707. It also boasts cheap food prices as Canada’s ‘breadbasket.’ The province has a high employment rate and thriving agriculture, oil, and manufacturing industries that have begun to attract immigrants. However, Saskatchewan’s electricity rates (.181/kWh) are slightly above the Canadian average..British Columbia is the least affordable Canadian province, largely due to the second-highest cost of living. Buying a house in BC costs a fortune, though housing, food, and gas prices are lower in less popular cities like Marpole and Surrey. Unemployment is slightly lower than the Canadian average, and standards of living are high in Vancouver and Victoria..Five Cheapest Cities in Canada.RankCityCost of Living Index1Regina83.42Quebec City88.53Saskatoon89.64Winnipeg89.85Red Deer90.Regina is the cheapest city in Canada, having an 83.4 cost of living index. This puts Regina’s cost of living 16.6% below the national benchmark of 100..Five Most Expensive Cities in Canada .RankCityCost of Living Index1Vancouver121.32Toronto118.63Victoria117.44Markham114.55Nanaimo108.6.The study ranks Vancouver as Canada’s most expensive city, with a cost of living index of 121.3, vs a national benchmark of 100..The complete study can be read at SavvyNewCanadians.com
