Cheapest Places to Live in Canada

What are the cheapest places to live in Canada for rental prices for immigrants and international students? Finding the cheapest places to live among Canada's cities is a critical challenge for newcomers looking for affordable rents.

In addition to finding a job, renting that first home is a significant part of the settlement process for newcomers who must choose a Canadian city in which to settle.

Rental affordability remains top of mind both newcomers and domestic Canadians. A recent CBC/Pollara survey found that immigrants share serious anxieties about the cost of living and rental costs are a major portion of monthly expenses.

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Rent prices across most of Canada are falling. However, asking prices remain high and are not expected to enter the "affordable category" anytime soon. For newcomers, finding the most (and best) affordable cities in Canada for rental housing is crucial to their success.

"Affordability has been prioritized by (Canadian) renters over just about everything else," said Rentsync CEO Max Steinman.

Rental Prices and Demand Declining

Vacancy rates in some popular Canadian cities are also improving. Some cities, such as Toronto and Vancouver, and cities with universities, are seeing a slowing of rent price increases and more rental availability, with landlords once again offering incentives to renters such as free rent for a month and free WiFi.

However, prices across Canada remain high. Newcomers must do their homework in order to find the most affordable cities in Canada.

Prices are falling steadily but Toronto does not have cheap rent prices

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According to the most recent report from Rentals.ca and Urbanation, in December 2024, asking rents for all residential property types in Canada averaged $2,109, a 3.2 percent decrease from December 2023. That represents a 17-month low.

Asking rents are trending downward as Canada becomes a renters market.

The decline in rents in 2024 was mainly in Ontario, where average asking rents for apartments fell 4.7 percent to $2,332.

Newcomers Still Drive Rental Demand

Immigration has helped make Canada's rental market very competitive.

Now, partly to ease the rental housing crisis, Canada has reduced its permanent resident target from 500,000 to 395,000 in 2025, down to 380,00 in 2026, and set a target of 365,000 in 2027.

The Canadian government has also capped international student permits and limited the number of temporary foreign workers allowed into Canada.

These revised policies and lower inflation and interest rates will continue to impact rental demand and prices through 2025.

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So, where will newcomers and students arriving in Canada find the cheapest rent?

Western Canada Has the Cheapest Rents

According to the Rentals.ca report, in December 2024, the mid-sized cities with the cheapest rentals are found in Western Canada.

Edmonton is a large Canadian city with cheaper rents

Six of the ten cheapest mid-sized cities are in the western provinces of Manitoba, Saskatchewan and Alberta. Saskatchewan is, in fact, the most affordable province in Canada.

Windsor remains the cheapest place to rent among Ontario's popular mid-sized cities, followed closely by St. Catharines.

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And which Canadian cities are the most unaffordable?

According to the latest Rentals.ca report, in December 2024, seven of the top 10 most expensive Canadian cities for rent were in Ontario, six of which are in the GTA.

10 Canadian mid-sized cities with the cheapest rents:

These are the mid-sized Canadian cities with the cheapest rents in December 2024, according to Rentals.ca

1 - Saskatoon, Saskatchewan

Saskatoon is consistently one of the cheapest places to rent in Canada

The province's largest city, home to the University of Saskatchewan, is where a one-bedroom apartment rents for $1,223 (down 6.9 percent from November). Saskatoon consistently ranks among Canada's cheapest mid-sized cities for housing prices.

Located on the banks of the South Saskatchewan River, Saskatoon is a multicultural city affectionately known as the City of Bridges.

An average two-bedroom in Saskatoon costs $1,469 a month, down 4.5 percent from November.

2 - Regina, Saskatchewan

In Regina (the province's second-largest city in the heart of the Prairies), a one-bedroom apartment costs $1,261 monthly, down 1.9 percent from November. A two-bedroom apartment costs $1,439, down 0.7 percent month over month. Houses for rent in Regina continue to be a bargain for newcomers and international students.

3 - Edmonton, Alberta

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Edmonton is the capital of Alberta and the second-largest city in the province after Calgary. Rich in Alberta's massive oil, gas, and oil sand reserves, Edmonton is called the “Oil Capital of Canada.” It's also home to the NHL's recent Stanley Cup finalists, Edmonton Oilers.

A one-bedroom rents for $1,328 (down 2.0 percent from November), while a two-bedroom rents for $1,655 (down 1.3 percent).

4 - Lethbridge, Alberta

Lethbridge is 215 km southeast of Calgary and 105 km northwest of the Canada–United States border. Lethbridge has a population of 106,550, and its proximity to the nearby Canadian Rocky Mountains ensures warm summers, mild winters, and a windy climate.

Known as Southern Alberta's commercial, educational, financial, industrial and transportation centre, it also features the University of Lethbridge and Lethbridge Polytechnic.

According to Rentals.ca, a one-bedroom in Lethbridge rents for $1,366 per month in December. A two-bedroom costs $1,529 per month.

5 - Winnipeg, Manitoba

Asking rents in Winnipeg are falling, according to Rentals.ca

Known as the “Gateway to the West,” Winnipeg is Manitoba's capital and the province's largest city. It is located in the eastern part of the Canadian Prairies in Western Canada.

Originally a trading post for Indigenous people before the arrival of European settlers, The 'Peg is a railway and transportation hub with a diversified economy. Winnipeg became home to thousands of newcomers and is known as a multicultural city (Canada's sixth largest).

A one-bedroom apartment in Winnipeg, home to the Winnipeg Jets of the National Hockey League, costs $1,416 (down 1.4 percent from November). A two-bedroom apartment rents for $1,771, down 1.6 percent from November.

6 - Quebec City, Quebec

According to Rentals.ca, Quebec City, the capital of La Belle Province, offers one-bedroom apartments for $1,425 and two-bedroom apartments for $1,921.

7 - Windsor, Ontario

Situated on the U.S./Canada border, Windsor has the cheapest rents among Ontario mid-size cities

Located in Southwestern Ontario on the United States border with Detroit, Michigan, Windsor is known as the “Automotive Capital of Canada.” A rich agricultural region in Essex County also surrounds the city. Windsor is Canada's southernmost city and is undergoing an economic resurgence. Rent for a one-bedroom is $1,554 (up 0.6 percent from November), and $1,866 for a two-bedroom (up 1.4 percent).

8 - Calgary, Alberta

Calgary is Alberta's largest city, with a population of about 1.5 million. In recent years, it has become a popular landing spot for immigrants to Canada and Canadians living in other provinces, mainly because of housing costs that are much lower than those in Toronto and Vancouver. It is home to the Calgary Flames of the National Hockey League. A one-bedroom unit in Calgary rents for $1,606, down 1.7 percent from November. A two-bedroom costs $1,933, down 1.6 percent from November.

9 - St. Catharines, Ontario

St. Catharines has the cheapest rent prices among Ontario's mid-size cities

St. Catharines is located in the Niagara Region of Ontario on the shores of Lake Ontario, right beside Niagara Falls and in the heart of Ontario wine country. Known as the Garden City, it is also minutes from the Canada-U.S. border, 128 kilometres from Toronto and just 37 kilometres from Buffalo, New York. It connects to Toronto and the GTA by GO Train and the Queen Elizabeth Highway. A one-bedroom in St. Catharines rents for $1,669 (up 0.5 percent from November). A two-bedroom is $1,978, up 0.3 percent.

10 - Laval, Quebec

Laval is the largest suburb of Montreal and the third-largest city in Quebec, with a population of 443,192. Laval's economy is centred around the service sector and has a solid manufacturing base. A one-bedroom unit in Laval costs $1,675, while a two-bedroom is $2,120.

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And what are the top three most expensive places to rent in Canada? Vancouver is still No. 1, at $2,512 a month for a one-bedroom (down 0.9 percent from November); Burnaby, B.C. is No. 2, at $2,366 a month (down 0.5 percent), and Toronto is No. 3, at $2,360 monthly (down 0.6 percent).

Most Expensive Canadian Cities

These Canadian cities had the most expensive rents in December 2024

Based on December 2024 rental prices, immigrants and international students searching for the cheapest Canadian cities should head to Western Canada or southwestern Ontario.

Action Plan for Newcomers:

Research rental housing prices and properties in Canada before arriving
Plan how to make a good impression on a landlord
Budget AT LEAST 30 percent of your monthly income for rent
Canadian cities with cheaper asking rents usually have lower house prices as well
Consider using a settlement agency to help with your transition to Canada

*Rent prices were accurate when this article was published but may change over time.

Steve Tustin is the Content Editor for Rentals for Newcomers and a contributing editor for Prepare for Canada. He is also the former managing editor of Storeys.com and a former senior editor at the Globe and Mail and the Toronto Star.

Rentals for Newcomers is powered by Rentsync, a North American market leader for property technology within the multifamily apartment industry. This gives Rentals for Newcomers access to the latest rental technology, tools, insights, and trends.