When deciding where to live in Canada, factors like lifestyle, job opportunities, cost of living, and quality of life often top the list. For financially savvy individuals, balancing affordability with access to opportunities is key.
Here’s our ranking of the best cities in Canada to live, based on financial and lifestyle factors.
1. Calgary, Alberta
Why it’s great:
- Job market: Calgary boasts a thriving economy, particularly in energy, technology, and finance.
- Income potential: With one of the highest median household incomes in Canada, Calgary provides great financial stability.
- Affordability: Despite being a major city, Calgary has no provincial sales tax and lower property taxes compared to other urban centers.
- Lifestyle: The Rocky Mountains are nearby, offering outdoor enthusiasts year-round adventure.
Key cost metrics:
- Average home price: $540,000
- Monthly rent (2-bedroom apartment): $1,600
- Provincial tax: 10% flat rate
2. Ottawa, Ontario
Why it’s great:
- Government jobs: As the capital city, Ottawa is a hub for stable, well-paying government jobs.
- Affordable housing: Compared to Toronto, Ottawa offers more reasonable real estate prices.
- Quality of life: It’s consistently ranked among the best cities in Canada for safety and cleanliness.
Key cost metrics:
- Average home price: $480,000
- Monthly rent (2-bedroom apartment): $1,900
- Provincial tax: Progressive (5.05%–13.16%)
3. Quebec City, Quebec
Why it’s great:
- Cost of living: Quebec City is one of the most affordable major cities in Canada. Groceries, housing, and entertainment cost less than in most other cities.
- Unique culture: Residents enjoy a European-style lifestyle with rich history, art, and cuisine.
- Family-friendly: The city boasts excellent schools and affordable childcare.
Key cost metrics:
- Average home price: $350,000
- Monthly rent (2-bedroom apartment): $1,100
- Provincial tax: Progressive (15%–25.75%)
4. Halifax, Nova Scotia
Why it’s great:
- Booming economy: Halifax has seen growth in technology, education, and healthcare sectors.
- Affordability: While housing prices are climbing, they remain lower than in Toronto or Vancouver.
- Lifestyle: Coastal living means fresh seafood, beaches, and a slower pace of life.
Key cost metrics:
- Average home price: $465,000
- Monthly rent (2-bedroom apartment): $1,800
- Provincial tax: Progressive (8.79%–21%)
5. Saskatoon, Saskatchewan
Why it’s great:
- Housing affordability: Saskatoon offers some of the most affordable real estate in Canada.
- Growing economy: Key industries include agriculture, mining, and technology.
- Lower taxes: Residents enjoy a reasonable provincial tax rate compared to other provinces.
Key cost metrics:
- Average home price: $375,000
- Monthly rent (2-bedroom apartment): $1,200
- Provincial tax: Progressive (10.5%–14.5%)
6. Toronto, Ontario
Why it’s great:
- Job opportunities: Canada’s largest city offers unparalleled opportunities in finance, technology, and media.
- Cultural diversity: Toronto is home to vibrant neighborhoods and global cuisine.
- Infrastructure: A world-class public transit system and access to international markets make Toronto a great choice for professionals.
Key cost metrics:
- Average home price: $1,070,000
- Monthly rent (2-bedroom apartment): $3,000
- Provincial tax: Progressive (5.05%–13.16%)
7. Vancouver, British Columbia
Why it’s great:
- Natural beauty: Surrounded by mountains and ocean, Vancouver offers an unparalleled lifestyle for outdoor enthusiasts.
- Economic opportunities: The city has a robust economy with strong tech, film, and trade sectors.
- Quality of life: Vancouver consistently ranks among the world’s most livable cities.
Key cost metrics:
- Average home price: $1,200,000
- Monthly rent (2-bedroom apartment): $3,500
- Provincial tax: Progressive (5.06%–20.5%)
Conclusion
Choosing the best city in Canada depends on your financial situation and lifestyle preferences. Calgary and Quebec City are great for affordability, while Toronto and Vancouver excel in job opportunities despite higher costs. For those seeking a balance of culture, safety, and affordability, Ottawa and Halifax shine.
Consider your priorities, from cost of living to career opportunities, to make the best decision for your financial and personal goals. Canada’s diverse cities ensure there’s something for everyone!
