With housing prices and the cost of living still sky-high in Canada, finding an affordable place to live is more important than ever.
If you’ve been dreaming of moving across Canada to a province where your salary will get you a better quality of life, you’ll want to check out this new ranking of the cheapest provinces to live in Canada for 2025.
MovingWaldo has crunched the numbers and revealed the provinces that offer the best balance between low costs and a great quality of life this year.
The list evaluates the average cost of living, house prices and 1-bedroom rental costs to determine how affordable each province really is. Quality of life factors were evaluated using real feedback from people who’ve lived in these provinces, including opinions on job opportunities, public safety, education, health care, transit, recreation and the environment.
Here are the top most affordable provinces in Canada with the best quality of life in 2025, according to MovingWaldo:
Nova Scotia
If coastal living is calling your name, Nova Scotia is the place to be. The monthly cost of living averages $3,101.53, with the average 1-bedroom rent sitting at $2,100 a month and the average home priced at $564,000.
While rentals and general cost of living are higher here compared to many other provinces, buying property is a lot more affordable than in Ontario or B.C. Ultimately, MovingWaldo notes that for many who move to the province, the stunning landscapes and welcoming communities make up for the price tag.
Quebec
Quebec offers a lower overall cost of living at $2,665.56 per month, with 1-bedroom apartments averaging $1,776 and the average home priced at $525,732.
The province stands out for its diverse housing options, ranging from chic city apartments to affordable suburban homes. On top of that, residents benefit from excellent public transport and rich cultural experiences in cities like Montreal.
Prince Edward Island
P.E.I. is one of the most affordable and charming provinces to live in the country. The monthly cost of living is $2,718.14, with 1-bedroom rents averaging just $850 and homes averaging $365,600.
The small population and abundance of affordable housing make it a great choice for those looking to enjoy quiet living. P.E.I. is renowned for its stunning beaches, fresh seafood and scenic biking trails, perfect for nature lovers.
Manitoba
Manitoba keeps costs low with a monthly cost of living of $2,696.70. A 1-bedroom apartment rents for around $1,381, while homes go for $376,770 on average.
The province combines affordability with nature, offering endless forests, prairies and lakes. Winnipeg, the capital, has some of the most affordable housing among big Canadian cities and, despite its reputation for cold winters, it also has sunny, temperate summers with exciting festivals.
Saskatchewan
Saskatchewan boasts an average monthly cost of living of $2,531.25, with 1-bedroom rents at around $1,228 and homes averaging just $344,800.
Aside from its affordability, Saskatchewan is Canada’s sunniest province, perfect for outdoor enthusiasts. Its lower living expenses make it a great choice for those seeking a relaxed and sunny lifestyle.
New Brunswick
New Brunswick’s affordability is impressive, with a monthly cost of living of $2,341.21 — the lowest in Canada. Rent for a 1-bedroom apartment averages $1,274, and homes are priced at $308,800 on average.
The province’s lower demand for housing keeps real estate affordable. Essential utilities like water, gas and electricity are also cheaper here, making it a smart choice for anyone wanting to stretch their dollar further.
Newfoundland and Labrador
Topping the list as the cheapest province in Canada for 2025 is Newfoundland and Labrador. The cost of living here is $2,411.87 per month. The province has the lowest average housing costs with a 1-bedroom apartment costing around $845 and the average home priced at just $297,000.
This province offers a perfect mix of affordability and charm, with a thriving cultural scene and breathtaking coastlines. It also boasts some of the lowest post-secondary tuition fees in North America, making it a fantastic choice for families and students alike.
Each province offers its own unique perks, so whether you’re looking for sunny days, coastal beauty or affordable urban living, there’s a budget-friendly place waiting for you in Canada.
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