Housing in Canada is getting more and more expensive. Where can you find a cheaper place to live?
One of the main expenses for immigrants is housing. And in Canada it is expensive, and the price is rising every year. New property taxes only contribute to this.
Toronto is again raising the 5.5% tax on residential property. The increase was 2.9% in 2022 and 0.7% in 2021. So homeowners' bills will increase by 7% with the 1.5% building tax.
For example, for a house worth $695,268 CAD, the owner will pay $3,569 CAD in taxes, which is $233 CAD more than last year. In addition, there is a 3% increase in water use and solid waste collection fees.
At the end of 2022, home purchase prices in Toronto were down 9.2%. The average price across all properties was $1,051,216 CAD, down $28,000 CAD from 2021.
But demand for real estate purchases is also falling. In December 2022, 3,117 different properties were sold. And that's almost 50% below the 2021 sales level.
Experts attribute the decline in housing demand to bank rates, inflation and other taxes. On the other hand, record levels of immigration will support demand for owner-occupied and rental housing.
If you are immigrating to Canada and are looking for affordable housing, check out the rankings in the table. The list of cities and prices will help you choose where to live.
Point2Homes compared home prices in Canada's 50 largest cities, taking into account taxes, fees and credit.
The list of cheapest housing for homeowners and tenants included:
| City and Province | Prices for homeowners per month | City and Province | Prices for tenants |
| Trois-Rivières, Quebec | $956 CAD | Trois-Rivières, Quebec | $676 CAD |
| Saguenay, Quebec | $1 054 CAD | Saguenay, Quebec | $689 CAD |
| Sherbrooke, Quebec | $1 096 CAD | Sherbrooke, Quebec | $760 CAD |
| Levy, Quebec | $1 148 CAD | Levy, Quebec | $892 CAD |
| Windsor, Ontario | $1 169 CAD | Quebec City, Quebec | $904 CAD |
| Quebec City, Quebec | $1 195 CAD | Gatineau, Quebec | $968 CAD |
| Gatineau, Quebec | $1 286 CAD | Montreal, Quebec | $969 CAD |
| Winnipeg, Manitoba | $1 326 CAD | St. John's, Newfoundland and Labrador | $988 CAD |
| Greater Sudbury, Ontario | $1 362 CAD | Terrebonne, Quebec | $991 CAD |
| Levy, Quebec | $1 374 CAD | Lavie, Quebec | $1 003 CAD |
| Halifax, Nova Scotia | $1 386 CAD | Greater Sudbury, Ontario | $1 037 CAD |
| Terrebonne, Quebec | $1 400 CAD | Windsor, Ontario | $1 046 CAD |
| St. John's, Newfoundland and Labrador | $1 414 CAD | Winnipeg, Manitoba | $1 148 CAD |
