Hundreds of Canadians are fleeing the big metropolitan cities, like Toronto, Vancouver, and Montreal are becoming unaffordable. As our economy continues to recover, more Canadian are looking to move to Most Affordable Cities In Canada in 2021
A recent study on Housing Affordability Globally by the Urban Reform Institute shows that Montreal, Toronto, Vancouver and Ottawa are the most unaffordable cities globally.
More and more Canadians are moving to smaller cities because the cheapest options available to them in bigger cities have become unaffordable.
Here Are Most Affordable Cities In Canada 2021
10. Saskatoon
Saskatoon is a city straddling the South Saskatchewan River in Saskatchewan. The average cost of primary real estate in Saskatoon is $275,000 – $330,000
- Condo market: $248,231
- Luxury market: $750k
- 2021 Forcast: $363,550
- Apartment (1 bedroom) in City Centre $1,159
- Apartment (1 bedroom) Outside of Centre $956
- Apartment (3 bedrooms) in City Centre $1,727
- Apartment (3 bedrooms) Outside of Centre $1,481
9. Quebec City
Québec City sits on the Saint Lawrence River in Canada’s predominantly French-speaking Québec province. The average cost of primary real estate in Quebec City is $290,000- $395,000
- Condo market: $280,000
- Luxury market: $900K
- 2021 Forcast: $420,000
- Apartment (1 bedroom) in City Centre: $830
- Apartment: (1 bedroom) Out City Centre: $671
- Apartment: (3 bedrooms) in City Centre: $1,399
- Apartment: (3 bedrooms) Outside of Centre: $1,036
8. Regina
Regina real estate is currently undervalued, with a total average sale price of $250- $350,000. As a result, first-time homebuyers typically look for single-detached homes as their property of choice.
- Condo market: $222,700
- Luxury market: $700k
- 2021 Forcast: $303,281
- Apartment (1 bedroom) in City Centre: $1,026
- Apartment (1 bedroom) Outside of Centre: $940
- Apartment (3 bedrooms) in City Centre: $1,804
- Apartment (3 bedrooms) Outside of Centre: $1,777
7. London
London real estate is currently undervalued, with an average sale price of $325,000- $479,488. However, first-time homebuyers are active across all property types when entering the London real estate market because of its affordable prices.
- Condo market: $242,000
- Luxury market: $1M
- 2021 Forcast: $489,077
- Apartment (1 bedroom) in City Centre: $1,277
- Apartment (1 bedroom) Outside of Centre: $1,080
- Apartment (3 bedrooms) in City Centre: $2,212
- Apartment (3 bedrooms) Outside of Centre: $1,767
6. Oshawa
Oshawa is a city in Ontario, Canada, on the Lake Ontario shoreline. The average cost of primary real estate here is $ $300,000 to $400,000, and semi-detached homes with an average price range from $350,000 to $450,000.
- Condo market: $300,000
- Luxury market: $1M Plus
- 2021 Forcast: $509,446
- Apartment (1 bedroom) in City Centre: $1,271
- Apartment (1 bedroom) Outside of Centre: $1,150
- Apartment (3 bedrooms) in City Centre: $2,328
- Apartment (3 bedrooms) Outside of Centre: $1,978
5. Winnipeg
Winnipeg real estate is viewed as undervalued compared to other metropolitan cities across Canada. The average cost of primary real estate here is $300,00- $400,000
- Condo market: $241,000
- Luxury market: $500K
- 2021 Forcast: $291,976
- Apartment (1 bedroom) in City Centre: $1,036
- Apartment (1 bedroom) Outside of Centre: $949
- Apartment (3 bedrooms) in City Centre: $1,550
- Apartment (3 bedrooms) Outside of Centre: $1,531
4. Moncton
Moncton is a city in southeastern New Brunswick, Canada. The Moncton housing market is expected to sit in the seller’s market territory in 2021. The average cost of primary real estate here is $150,000 – $200,000
- Condo market: $171,641
- Luxury market: $550k
- 2021 Forcast: $246,946
- Apartment (1 bedroom) in City Centre: $908
- Apartment (1 bedroom) Outside of Centre: $739
- Apartment (3 bedrooms) in City Centre: $1,550
- Apartment (3 bedrooms) Outside of Centre: $1,210
3. Fredericton
Fredericton is the capital of New Brunswick in eastern Canada, and The Fredericton housing market is expected to sit in seller’s market territory in 2021 due to a lack of inventory. The average cost of primary real estate here is $168,478 – $211,023
- Condo market: $168,478
- Luxury market: $650,000
- 2021 Forcast: $189,750
- Apartment (1 bedroom) in City Centre: $1,029
- Apartment (1 bedroom) Outside of Centre: $787
- Apartment (3 bedrooms) in City Centre: $1,544
- Apartment (3 bedrooms) Outside of Centre: $1,133
2. Calgary
Calgary real estate is likely to continue as a balanced market in 2021, with ongoing economic factors related to the oil and gas sectors and COVID-19 expected to impact market activity. The average cost of primary real estate here is $350,000 – $475,000
- Condo market: $226,200
- Luxury market: $750k
- 2021 Forcast: $458,742
- Apartment (1 bedroom) in City Centre: $1,200
- Apartment (1 bedroom) Outside of Centre: $1,019
- Apartment (3 bedrooms) in City Centre: $2,200
- Apartment (3 bedrooms) Outside of Centre: $1,669
1. Edmonton
Edmonton is the capital city of the Canadian province of Alberta. Edmonton real estate will likely continue as a balanced market in 2021, with demand being segmented.
Buyers are looking for single-family homes and yards, including duplex and row-style townhomes. The average cost of primary real estate here is $300,000 – $364,000
- Condo market: $222,181
- Luxury market: $1M Plus
- 2021 Forcast: $372,116
- Apartment (1 bedroom) in City Centre: $1,173
- Apartment (1 bedroom) Outside of Centre: $982
- Apartment (3 bedrooms) in City Centre: $1,756
- Apartment (3 bedrooms) Outside of Centre: $1,521
This story originally appeared on RE/MAX Canada News and was reproduced here with permission.
