When it comes to finding the perfect place to live, Canadians are often looking for the ideal balance of affordability and quality of life. In 2025, provinces like Newfoundland and Labrador, New Brunswick, and Saskatchewan are leading the way as the most budget-friendly regions with excellent living conditions. Whether you’re planning a move or simply exploring your options, this guide will help you understand why these provinces are topping the charts.
This ranking, sourced from MovingWaldo, evaluates affordability and quality of life using key metrics like housing prices, rental costs, cost of living, safety, healthcare, and access to recreational amenities.
1. Newfoundland and Labrador
- Cost of Living: $2,411.87
- Average Rent (1-Bedroom): $845
- Average Home Price: $297,000
Known for its stunning coastal scenery and welcoming communities, Newfoundland and Labrador are the cheapest provinces to live in Canada. Affordable housing, low tuition fees, and a rich cultural history make this province ideal for families and individuals looking to put down roots.
2. New Brunswick
- Cost of Living: $2,341.21
- Average Rent (1-Bedroom): $1,274
- Average Home Price: $308,800
With low utility costs and affordable housing, New Brunswick is a great option for those seeking a budget-friendly lifestyle. The province’s peaceful environment and access to natural beauty make it a hidden gem for retirees and young families alike.
3. Saskatchewan
- Cost of Living: $2,531.25
- Average Rent (1-Bedroom): $1,228
- Average Home Price: $344,800
Saskatchewan offers sunny weather and an affordable housing market. Its low living costs and outdoor lifestyle appeal to budget-conscious individuals who value open spaces and recreational opportunities.
4. Manitoba
- Cost of Living: $2,696.70
- Average Rent (1-Bedroom): $1,381
- Average Home Price: $376,770
From vibrant city life in Winnipeg to serene landscapes dotted with lakes and forests, Manitoba provides affordable living with low hydroelectricity rates. Its strong economy and cultural diversity make it a top choice for families and professionals.
5. Prince Edward Island (PEI)
- Cost of Living: $2,718.14
- Average Rent (1-Bedroom): $850
- Average Home Price: $365,600
As Canada’s smallest province, PEI is renowned for its breathtaking beaches and welcoming communities. The island’s affordable housing and relaxed lifestyle make it a popular choice for those seeking a slower pace of life.
6. Quebec
- Cost of Living: $2,665.56
- Average Rent (1-Bedroom): $1,776
- Average Home Price: $525,732
With its rich culture and diverse real estate options, Quebec provides a lower cost of living compared to other major provinces like Ontario or British Columbia. Affordable housing and access to quality public services make it an excellent choice for families.
7. Nova Scotia
- Cost of Living: $3,101.53
- Average Rent (1-Bedroom): $2,100
- Average Home Price: $564,000
Nova Scotia’s coastal charm and friendly communities have drawn many Canadians in recent years. While rental costs can be higher, property prices remain competitive compared to Ontario and BC. With its scenic landscapes and vibrant culture, Nova Scotia offers a high quality of life.
Why Affordability Matters
Choosing a place to live isn’t just about housing costs—it’s about finding a location that aligns with your lifestyle and financial goals. This list of the cheapest provinces in Canada according to MovingWaldo, highlighting areas that offer a mix of affordability, safety, and opportunities for personal and professional growth.
References
This ranking is based on the latest data from MovingWaldo
Canada Housing Market 
Leave a comment