Housing isn't cheap and with dreams of homeownership on the horizon for many millennials you may be wondering where in Canada you can actually afford to live. Thanks to Maclean's, we now know what the best communities with affordable real estate in all of Canada are. The website ranked hundreds of places across Canada to tell us where exactly we should move.
The communities were ranked as part of Maclean's Best Communities in Canada. They used a number of factors like economy, population growth, health care, crime, culture, and of course affordability to determine the best, affordable places to live.
While one of their main metrics was the average house price - they eliminated anything over $500,000 - that wasn't the only consideration in the ranking. Maclean's also considered the value or the homes and the quality of life in those communities, which is why the cheapest communities aren't necessarily ranked first on the list.
However, what is ranked first is Salmon Arm, a small city in B.C. With an average home price of $428,517, this community took the top spot due to the surrounding mountains, booming economy as a tourist hotspot with lots of jobs available, and plenty of arts, culture, and things to do.
If you don't picture yourself out in B.C that's not the only option. In second place is Russell, Ontario. Located just outside of Ottawa, the average house prices in this community are only $419,917.
Another Ontario town, Tecumseh took third place with the average house price being $426,474. The town of 23,000 people is located in southwestern Ontario, close to the Detroit border.
While Maclean's ranked the top 100 affordable communities for real estate in all of Canada, here is the top 10:
- Salmon Arm, B.C
- Russell, Ontario
- Tecumseh, Ontario
- Haldimand County, Ontario
- Kingston, Ontario
- LaSalle, Ontario
- Nelson, B.C
- St. Albert, Alberta
- Norfolk County, Ontario
- Clarence-Rockland, Ontario
Some more major cities that managed to crack the top 100 list for affordability are Regina in 27th, Edmonton in 32nd, and Halifax in 61st. Not surprisingly, Toronto and Vancouver are nowhere to be seen.