Canada's cities are a mix of affordability. Some are more expensive, while others are less expensive. If you are looking to move from a high-cost city to an affordable one, here are some great suggestions for you to consider. The average Canadian home costs over $440K, but there are places where you can find a bargain in the country if you know where to look. As an interesting side note, the average home value has increased by 9.4% since March 2014.
This city is part of the French-speaking Quebec province. It's got a wonderfully French/European feel, but more importantly the median home price is only $147,000 for a detached home. According to Desjardins, Trois-Rivieres is the #1 out of 20 for most affordable cities. Joblessness is at a relatively higher rate than the rest of Canada, which is something to remember.
Hamilton is practically a stone's throw away from Upstate New York. However, this province is known for being significantly more affordable than New York City. The median price of a detached home in Hamilton is $350,000 and Hamilton also offers a relatively favorable job market.
This region of Canada is comparatively low-priced when considering the rest of the country. This part of the country has a solid economy which is based on agriculture, cattle, and sheep. Being in a rural location, this means that The Prairies has plenty of inventory relative to the number of people living there.
This is a small city of just over 100,000 people with plenty of great home prices. It's also a great place to find an income property, being a gateway to the west coast of Canada. Plenty of sectors are booming in Thunder Bay, whether you're looking to work in real estate, accounting, health care, or manufacturing.
It's named after the big city in the U.K., but this place is known for having an average home price of $265,370 in 2015. This area currently features an unemployment rate of just 6.9%. London itself is a city which operates as it's own separate municipality.
The economy of this province is based heavily on research and technology. It's also the home to 3 large industrial parks, and has a rapidly-growing biotechnology/genomics industry. The average home price in this province is just $180,693 as of 2015. Even better, the average annual increase in home values has been steady at just 2.6% per year.
Charlottetown, Prince Edward Island
This province has a population of 34,562 as of 2011, but the average home value is just $163,533 as of 2015. This province has a economy with plenty of government jobs, and has some light manufacturing as well. Chemical companies, biotech companies, and manufacturing companies all call Charlottetown home.
Canada is a great place to look if you want to find the right real estate deal as there are opportunities everywhere. Looking for the right home purchase is just a matter of finding the best place to look. Wherever you would like to live, there is a significant chance that you'll be able to find the best home for you and your family.
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