Canada Housing Market

Ontario is known for its diverse natural landscape, which includes provincial parks, forests, and four of the five Great Lakes. As Canada’s second-largest province, Ontario has a real estate market that is relatively lively but somewhat more expensive compared to other provinces. However, similar to other Canadian regions, housing prices in Ontario vary from city to city. The affordability of buying or renting a house in Ontario depends on factors such as the property’s size, location, and condition. If you’re looking for affordable housing in Ontario, continue reading to explore some of the least expensive cities to live in within the province.

Source: Top 10 Cheapest places to live in Ontario – 2023 (movingwaldo.com)

Methodology

Movingwaldo.com based their ranking of the 10 cheapest places to live in Ontario on the 2 following criteria: the average housing prices – house and apartment prices. We collected the date from Statistics Canada, The Canadian Real Estate Association (CREA), and Zumper. To help you compare, the average home price in Ontario is $835,090 and a 2-bedroom rental averages $2,638. 

They used this data to rank the 10 cheapest places to live in Ontario while also considering their quality of life (health, pollution, green space and recreation, climate, education, and employment opportunities).

1. Thunder Bay

Average house sale price: $302,200

Average rent price (1-bedroom): $1,315

2. Rainy River

Average house sale price: $330,000

Average rent price: $1,000 (private cottage)

3. Deep River

Average house sale price: $370,000

Average rent price (1-bedroom): $1,400

4. Sudbury

Average house sale price: $398,600

Average rent price (2-bedroom): $1,600

5. Sarnia

Average house sale price: $527,700

Average rent price (2-bedroom): $1,800

6. Kingston

Average house sale price: $557,000

Average rent price (2-bedroom): $1,899

7. Windsor

Average house sale price: $574,000

Average rent price (2-bedroom): $1,685

8. London

Average house sale price: $575,500

Average rent price (2-bedroom): $2,119

9. Peterborough

Average house sale price: $675,100

Average rent price (2-bedroom): $1,875

10. Barrie

Average house sale price: $705,000
Average rent price (2-bedroom): $1,995

Conclusion

Although many areas of Ontario are expensive, you can still live cheaply and enjoy an excellent quality of life in some cities.

Last year’s ranking (2022)

1. Sudbury
2. Sarnia
3. Windsor
4. Thunder Bay
5. Rainy River
6. Deep River
7. Peterborough
8. Barrie
9. Kingston
10. London

Source: Top 10 Cheapest places to live in Ontario – 2023 (movingwaldo.com)

For more information and the full article, CLICK HERE.