Homeownership is a dream that seems akin to winning the lottery in some Ontario cities these days. And its alternative, renting, is hardly a walk in the park.
Thankfully, not every provincial city in 2023 sells or rents homes for a fortune—shoutout to Toronto! Some are way more affordable.
According to data by Point2Homes, the three Ontario cities with the lowest shelter cost are Windsor, St. Catharines and Greater Sudbury. The latter is the cheapest overall in terms of rent, with residents paying an average of $1,037, while Windsor owners pay the least for housing at $1,169.
Not bad, not bad at all.
List of cities with the lowest shelter costs in CanadaPoint2Homes
If your goal is to find affordable living in a metropolitan area, narrowing your search down to those provincial regions would be a good starting point.
Some of Ontario's highest costs for shelter can be found in Oakville, Vaughan, and Milton, where both renters and owners hand over more than $2,000 a month. However, its owners in Richmond Hill and Brampton that pay the most in the province at $2,350 and $2,304, respectively.
List of cities with the highest shelter costs in CanadaPoint2Homes
Even living in Toronto, where renters pay an average of $1,562 per month and owners fork over $2,038, is cheaper in comparison.
However, it's worth noting that homeowners make up the majority in the pricey cities, with percentages ranging from 78% in Oakville to 86% in Vaughan.
The report adds that residents of Oakville, on average, pay three times as much as those of Trois-Rivières, Quebec. So you may want to start brushing up on your french.
In the end, big moves could be necessary for Canadians looking to find affordable living in 2023. Still, if you're swapping provinces with that goal, you'll want to avoid Ontario and British Columbia, both of which record the most expensive housing costs in the country by a sizeable margin.
This article's cover image was used for illustrative purposes only.