You Can Actually Buy A House For Under $200K In These Canadian Cities & No, We're Not Joking
Homebuyers rejoice! There are actually still cities in Canada with affordable housing where you can purchase a place for less than $200,000 with no time machine necessary.
For a lot of Canadians hoping to buy themselves a home, it can look like a far-off dream with the way the housing market has been.
However, a new study by the international real estate search portal Point2 showed that in 2022, there are still places in Canada that offer homes for a more affordable price.
If you're looking for a new home that's listed on the market for under $200,000, you're going to have to look outside of that nation's largest cities.
In fact, 38 of the 50 largest and most expensive cities in Canada, which are all in Ontario and B.C., have no listings for less than $200,000!
According to Point2, the places to be right now to get housing on the cheap are large cities in Atlantic Canada, the Prairies and Quebec.
The place with the highest percentage of real estate listings for homes below $200,000 is Cape Breton, Nova Scotia.
On this island on Canada's east coast, 44.2% of homes for sale are below that price point. Plus, the median price of a home in the region is only slightly above that at $213,219.
Next up on the list is Regina, Saskatchewan with around 36.5% of home listings in that affordable sweet spot.
Then, in the third spot is Saint John, New Brunswick which has 26.72% of houses for sale on the market under $200,000.
While both Regina and Saint John might not have as many listings in that same affordable tier as Cape Breton, they do boast cheap median home prices at $264,000 and $271,500 respectively.
Other cities that made it into the top 10 places with high percentages of cheap listings are Lethbridge (26.1%), Edmonton (24.63%), Saskatoon (23.47%) and Winnipeg (23.45%).
The rest of the spots are Red Deer (22.8%), St. John's (13.46%) and Quebec City (9.85%).
As for the other end of the spectrum, the city with the least amount of real estate listings below that $200,000 mark is Brampton, Ontario with a whopping 0%.
That same percentage is shared with four other cities in Ontario and B.C. — Mississauga, Toronto, Vancouver and Burnaby. But is anyone really surprised by that?
So, if you're looking for a place to buy and call your own, you might have to take a look at homes in some not so well known cities and potentially consider a move if you're in one of those unaffordable real estate markets.
