With the cost of living and real estate prices continuing to rise across Canada, finding an affordable place to live—without stressing over your budget every month—has never been more important. If you’re open to moving to a different province to enjoy a better lifestyle for your money, this 2025 ranking could help you make a smart move.
👉 Also worth reading: Quebec’s housing market is heating up in 2025—it’s giving off serious pandemic-era vibes.
The team at MovingWaldo analyzed data from the second half of 2024 to identify the most affordable provinces in the country. Their study looked at the average cost of living, home prices, and one-bedroom rental rates using data from the Canadian Real Estate Association (CREA) and Zumper, a trusted rental app rated 4.8/5 on the App Store with over 63,000 user reviews.
Beyond affordability, quality of life was factored in through real testimonials from residents. Categories included job opportunities, public safety, education, healthcare, transportation, recreation, and the environment.
Here are the 7 cheapest—and best—provinces to live in Canada in 2025:
1. Newfoundland and Labrador
🏠 Average cost of living: $2,411.87/month
📍 Average 1-bedroom rent: $845
💰 Average home price: $297,000
This Atlantic province offers the lowest rents in Canada. It strikes a perfect balance between modern urban life and breathtaking natural surroundings. Plus, it boasts some of the lowest post-secondary tuition fees in North America—ideal for students and families.
2. New Brunswick
🏠 Cost of living: $2,341.21/month
📍 1-bedroom rent: $1,274
💰 Average home price: $308,800
New Brunswick is the most affordable province overall. Utility costs are also among the lowest nationwide. It’s great for those seeking a calmer lifestyle—just make sure you have a job or plan in place, as the job market is less active here.
3. Saskatchewan
🏠 Cost of living: $2,531.25/month
📍 1-bedroom rent: $1,228
💰 Home price: $344,800
Known as Canada’s sunniest province, Saskatchewan is a dream for outdoor lovers. It combines a low cost of living with vast natural landscapes and a relaxed pace of life.
4. Manitoba
🏠 Cost of living: $2,696.70/month
📍 Rent: $1,381
💰 Home price: $376,770
Manitoba offers great value with tons of nature, low hydro costs (thanks to renewable energy), and a vibrant arts scene in Winnipeg. It’s a solid pick for budget-conscious movers who want both culture and green space.
5. Prince Edward Island
🏠 Cost of living: $2,718.14/month
📍 1-bedroom rent: $850
💰 Home price: $365,600
Canada’s smallest province packs a big punch with its charm. Think sandy beaches, warm waters, and a peaceful pace of life—all for a very reasonable cost. Perfect for nature lovers and those craving a slower rhythm.
6. Quebec
🏠 Cost of living: $2,665.56/month
📍 1-bedroom rent: $1,776
💰 Home price: $525,732
Despite rising costs, Quebec remains a top contender for affordable living. The real estate market is diverse—from downtown condos to suburban family homes—offering something for everyone. Plus, groceries, transportation, and services remain competitively priced.
7. Nova Scotia
🏠 Cost of living: $3,101.53/month
📍 1-bedroom rent: $2,100
💰 Home price: $564,000
Yes, it’s on the pricier end of this list, but Nova Scotia delivers with ocean views, a tight-knit community feel, and unforgettable coastal scenery. If you’re drawn to the Atlantic lifestyle, it could be well worth the cost.
💭 Ready to make a move?
Whether you’re looking for a better work-life balance, a connection to nature, or simply more for your money, these provinces offer a smart, budget-friendly alternative to Canada’s pricier regions.
