Canada Global(Web News)A new list of the cheapest cities in Canada has been released and no city in British Columbia has made it to the top 15. Royal LePage has released a report that shares data from almost all Canadian cities. Which shows the cities of Quebec City and Edmonton as the most expensive cities to live in Canada where people are willing to move.
According to the report, 45 percent of Greater Vancouver residents are considering moving to Edmonton, the capital of Alberta, due to inflation and rising costs of living.
The most affordable market in the country is Thunder Bay, Ont., with a median home price of $299,300, with households paying 22.2 percent of monthly income for mortgage payments.
Saint John, Red Deer, Trois-Rivieres and Edmonton all rounded out the top five cities with household income percentages between 25.1 percent and 28.9 percent.
According to Royal LePage, Kelowna is the most expensive city in British Columbia with people spending 62.9 percent of their average monthly income on their debt payments.
Abbotsford is named the most affordable city in BC. Despite the high cost of housing, Royal LePage found that people are most likely to live in Greater Vancouver at 46 per cent. That’s compared to 40 percent in Greater Montreal and 37 percent in the Greater Toronto Area that they wouldn’t consider moving to one of the most affordable cities on the list.
