Lower cost of living and desire for a more relaxed pace of life continue to drive urban residents to more affordable cities

Highlights:

• Lethbridge tops the list of most affordable cities in Canada, followed by Saint John; Thunder Bay slips from first to third spot.
• 61 of 62 major Canadian cities recorded an improved affordability factor in 2026, compared to 2024.
• 55% of respondents in the Greater Toronto Area, 48% in the Greater Montreal Area and 46% in Greater Vancouver would consider relocating to one of the 15 most affordable cities.
• Sherbrooke is the most popular destination among respondents in Montreal, while Edmonton remains the top-ranking choice among residents in Toronto and Vancouver.
• Gen Z and Millennials are more likely to relocate in order to access more affordable housing compared to older generations.

TORONTO, June 23, 2026 /CNW/ - According to a recent Royal LePage^® survey of Canadians living in the greater regions of Toronto, Montreal and Vancouver, conducted by Burson,¹ half of respondents (51%) say they would consider buying a primary residence in one of Canada's 15 most affordable cities, if they were able to find a job locally or work remotely.

"Home prices in Canada's largest cities have moderated over the past couple of years, but for many buyers, the math still doesn't work," said Phil Soper, president and CEO, Royal LePage. "As barriers to entry remain high in the country's most expensive urban centres, relocating to a more affordable city is becoming less of a last resort and more of a deliberate strategy. Aspiring homeowners who cannot secure a foothold in these markets are seriously weighing their options, and renters – unburdened by existing roots – are more likely to make that move than established homeowners."

The survey found Sherbrooke is the most popular relocation destination among residents of the Greater Montreal Area; 29 per cent of respondents say they would consider purchasing a primary residence in Sherbrooke if they were able to find a job locally or work remotely. Meanwhile, Edmonton is once again the top-ranking choice among respondents in the Greater Toronto Area (16%) and Greater Vancouver (18%).

"Canadians are remarkably mobile in theory, but less so in practice," noted Soper. "Many people dream about relocating to a more affordable city or province, yet the number that actually relocate is smaller. Career opportunities, family obligations and established social networks are powerful forces. Still, as housing affordability challenges persist in the country's largest urban centres, more buyers are widening their search and seriously evaluating markets they may never have considered just a few years ago."

Lethbridge tops the list of most affordable cities in Canada, where 18.9 per cent of a household's monthly income would be required to service a mortgage payment.² The Alberta city, followed by Saint John, takes over the top spot from Thunder Bay (currently ranked third), which ranked as the country's most affordable market in 2024. Red Deer and Regina round out the top five, where no more than 25.0 per cent of a household's monthly income is needed to service a mortgage payment.

"Younger Canadians – often less anchored to one community in particular – are well-positioned to make the move to another city or province, with the flexibility to put down roots where housing is more attainable. What has shifted, however, is the ease of doing so. The remote work era gave buyers the freedom to live anywhere while earning a competitive wage. As more workers return to the office, that freedom is becoming harder to come by."

More than half (52%) of respondents who rent their home say they would consider buying a primary residence in one of Canada's 15 most affordable cities, if they were able to find a job locally or work remotely. When broken out by generation, younger people are more likely to relocate in order to access more affordable housing: 77 per cent of Gen Z respondents and 56 per cent of Millennials say they would consider buying a primary residence in one of Canada's 15 most affordable cities, compared to 51 per cent of Gen X and 34 per cent of Baby Boomer respondents.

Fifty-five per cent of all respondents who say that they would consider relocating stated a lower cost of living as the main incentive to buy a property in one of the most affordable cities; 42 per cent say they desire a more relaxed pace of life; and, 41 per cent say they want to be closer to nature and live in a less populated area. Respondents were able to select more than one answer.

"An important but often overlooked trend in Canadian real estate has been the compression of home prices between regions. During the pandemic boom, the gap between Canada's most expensive markets and mid-sized cities widened dramatically. Since then, the reverse has occurred. Home values in Toronto and Vancouver have softened while cities such as Ottawa, Montreal and Regina have held their ground or continued to appreciate," said Soper.

"The result is a narrower pricing spread. For many Canadians, the question is no longer simply whether they can afford a home, but where they can achieve the best balance of affordability, career opportunity and quality of life. If this trend continues, the financial incentive to relocate will diminish, and we can expect fewer households to seriously consider moving solely in pursuit of lower housing costs."

61 of 62 Canadian cities see affordability factor improve

Following a prolonged period of flat or softening home prices and reduced buyer activity, 61 of the 62 cities analysed by Royal LePage between 2024 and 2026 recorded an improvement in the affordability factor, with gains concentrated in higher-priced markets. West Vancouver, Richmond, Markham, North Vancouver and Milton saw the largest decreases in the percentage of income required to service a monthly mortgage payment.

By comparison, cities that recorded the least improvement tend to already have some of the most affordable home prices in the country. In Red Deer, Trois-Rivières, Thunder Bay and Sherbrooke, the income required to service a monthly mortgage payment fell by less than 2.0 per cent. Quebec City was the only market to register a deterioration in affordability, with the income required to service a mortgage rising by 1.6 per cent since 2024.

Quebec City stands out in particular, having recorded the highest year-over-year aggregate home price increase for the last eight consecutive quarters. Taken together, it is not surprising that markets where buyers have been most active are the ones to show the least improvement in the affordability factor.

"Over the past two years, home prices in Canada's major urban centres – particularly Toronto, Vancouver and their surrounding communities – have softened, as demand in these higher-cost regions has been tempered by geopolitical and economic uncertainty, reduced immigration levels and an unprecedented increase in supply," said Soper. "At the same time, cities where home prices are lower have seen more robust demand as buyers seek an entry point into the market, pushing prices up as a result.

"That said, local income relative to home prices remains a critical factor when assessing affordability, and the degree of improvement varies significantly from one market to the next. For residents already stretched by the higher cost of living, the gains from declining home prices may not yet be felt."

Regional Trends

Overall, 51 per cent of respondents say they would consider moving to a more affordable city, although those in the Greater Toronto Area (GTA), are more likely than their counterparts in the greater regions of Montreal and Vancouver. Fifty-five per cent of respondents in the GTA say they would consider purchasing a home in a more affordable city. Their top choice is Edmonton (16%), followed by Thunder Bay (15%), Charlottetown (14%) and Windsor-Essex (14%).

By comparison, in the Greater Montreal Area (GMA), 48 per cent say they would consider purchasing a primary residence in a more affordable city. The top choice among GMA respondents is Sherbrooke (29%), followed by Trois-Rivières (25%) and Charlottetown (7%).

Despite being the most expensive market in the country, respondents in Greater Vancouver are less likely to consider relocating. Forty-six per cent of respondents say they would consider moving to a more affordable city. The top choice among Greater Vancouver respondents is Edmonton (18%), followed by St. John's (12%), Charlottetown (10%) and Lethbridge (10%). Respondents were able to select more than one answer.

Royal LePage 2026 Most Affordable Canadian Cities - Data Chart: rlp.ca/2026-Most-Affordable-Canadian-Cities-Chart

ALBERTA

Based on the percentage of income required to service a monthly mortgage payment, using provincial median household income data³ and city-level aggregate home price data,⁴ Lethbridge ranks first among the most affordable cities in Canada. In Lethbridge, 18.9 per cent of a household's monthly income would be required.⁵

"A major factor in preserving our city's long-term affordability has been our ability to build in step with population change. Our growth has been slow and steady, which lets urban planners keep pace with housing development, even through the population booms we saw after the pandemic, as many Canadians moved to Southern Alberta in search of a lower cost of living," said Keith Pushor, sales representative, Royal LePage South Country Real Estate Services. "When newcomers to Calgary were outbid by rising home prices, they'd often drift south to Lethbridge, a couple of hours from the city. We've seen steady home price appreciation as a result, and although that appreciation may seem extreme compared to historical local market trends, it certainly is not to the sharp degree other cities have experienced."

Pushor added that buyers moving to the city range from young professionals to retirees. Those drawn to Lethbridge often cite its convenient proximity to Calgary, the Rocky Mountains and the U.S. border; favourable climate and ample green space; and, a stable job market anchored by the education, government and food production industries, as the main draws.

"Based on current city planning, we're in a strong position to remain an affordable city, and there's plenty of land and new development to support continued growth," said Pushor. "Population growth does create some pressure over time, but for now the fundamentals are working in our favour."

Out of the 15 most affordable cities in Canada, three are in Alberta. Red Deer ranks fourth, where 24.9 per cent of a household's monthly income would be required to service a mortgage payment, a modest improvement from 25.7 per cent two years ago. Edmonton ranks seventh, where 26.3 per cent of a household's monthly income would be required to service a mortgage payment, down from 28.9 per cent two years ago. Edmonton is the most popular relocation destination among respondents in the greater regions of Toronto and Vancouver.

"Something that really sets Edmonton apart is access to both the city and the outdoors in a way that's hard to match anywhere else in Canada. Residents aren't spending hours in their cars. Even from the more affordable bedroom communities surrounding the city, you can be downtown in about 20 minutes. That's the kind of balance most major markets simply can't offer, and it changes the daily rhythm of life for families here," said Ed Lastiwka, associate broker, Royal LePage Noralta Real Estate. "For those who enjoy the outdoors, our river valley is the largest stretch of connected urban parkland in North America, threaded with bike trails, walking paths, parks and golf courses. And, the downtown core, currently earmarked for a comprehensive revitalization, is accessible by a newly expanded LRT system. It's the perfect combination of nature and city."

Lastiwka noted that Edmonton's housing market remains more affordable than Calgary's, which is becoming almost out of reach for many locals.

"We're seeing a number of buyers from Calgary moving here for that reason, as well as from British Columbia and Ontario, where traffic and home prices have both climbed beyond what many can manage," he said. "First-time buyers in Edmonton are still very much in the mix, and young couples are doing what it takes to save and enter the market. Here, home ownership is still within reach, and that's what continues to draw people to Edmonton."

Lethbridge

Aggregate Home Price Q1 2026: $338,700
2024 Provincial Median Total Household Income (Alberta): $96,600
Estimated Monthly Mortgage Payment: $1,520.85
Percentage of Monthly Income Needed For Mortgage Payment: 18.9%
National Affordability Ranking: #1

To view property listings in Lethbridge, click here: rlp.ca/2026-most-affordable-cities-Lethbridge 

Red Deer
Aggregate Home Price Q1 2026: $447,200
2024 Provincial Median Total Household Income (Alberta): $96,600
Estimated Monthly Mortgage Payment: $2,008.04
Percentage of Monthly Income Needed For Mortgage Payment: 24.9%
National Affordability Ranking: #4

To view property listings in Red Deer, click here: rlp.ca/2026-most-affordable-cities-Red-Deer 

Edmonton
Aggregate Home Price Q1 2026: $472,300
2024 Provincial Median Total Household Income (Alberta): $96,600
Estimated Monthly Mortgage Payment: $2,120.75
Percentage of Monthly Income Needed For Mortgage Payment: 26.3%
National Affordability Ranking: #7

To view property listings in Edmonton, click here: rlp.ca/2026-most-affordable-cities-Edmonton

Royal LePage 2026 Most Affordable Canadian Cities - Data Chart: rlp.ca/2026-Most-Affordable-Canadian-Cities-Chart

MANITOBA & SASKATCHEWAN

Based on the percentage of income required to service a monthly mortgage payment, using provincial median household income data⁶ and city-level aggregate home price data,⁷ Regina, Saskatchewan, ranks fifth among the most affordable cities in Canada. In Regina, 25.0 per cent of a household's monthly income would be required, an improvement from 2024, when 29.1 per cent was needed.

"Regina is something of an anomaly. Our market follows its own rhythm, and right now that means a home here still costs a fraction of what you'd pay in Canada's major cities, even though local demand far outpaces available supply," said Leah Graham, sales representative, Royal LePage Next Level. "Inventory is the tightest we've ever seen it, and prices continue to climb. But, for anyone watching from a larger city, the math is hard to ignore. Your money simply goes a lot further here, and that changes what's possible."

Graham added that in Regina, a local family can own their primary residence and still be able to afford an investment or a vacation property; a level of flexibility that remains out of reach in many parts of the country.

"It's also a great place to build a career. Our job market is healthy and far less crowded than in a big city, so applicants – including newcomers to Canada – often find they can land work and move up faster than they would elsewhere. And, life outside of work is genuinely good: less traffic, a slower pace of life, and none of that rat-race feeling. With parks, walking trails, and access to outdoor recreation and sports, it's a safe, family-friendly place that's great to raise kids in.

"Regina opens the door to home ownership and real estate investing in a way few markets can. It's affordable, it's easy to find tenants for a rental, and it offers a high quality of life. That's a powerful combination, and it's why the city continues to attract buyers from across the country and around the world," said Graham.

Out of the 15 most affordable cities in Canada, three are located in the provinces of Manitoba and Saskatchewan. Winnipeg, Manitoba, ranks tenth, where 27.9 per cent of a household's monthly income would be required to service a mortgage payment, down from 31.8 per cent two years ago.

"Winnipeg has retained its affordability despite gradual upward pressure on prices. And, compared to other Prairie hubs like Calgary and Edmonton, it continues to offer strong value for money. Unlike other markets, we have been largely sheltered from the sharp price swings driven by waves of interprovincial and international migration. The city has grown steadily, but not to the point of pricing people out," said Jesse Carlson, sales representative, Royal LePage Prime Real Estate. "Housing costs have risen broadly in step with taxes and other essentials, keeping Winnipeg accessible in a way that many Canadian cities no longer are. That stability has not dulled competition, however. This spring, motivated buyers are regularly submitting offers above asking as they compete for limited supply."

Carlson noted that residents continue to be drawn to the city for its strong job market, particularly in the trucking, business and healthcare sectors. Winnipeg offers the warmth of a smaller community alongside the amenities of a larger city, and sits just an hour's drive from cottage country, giving residents the best of both worlds.

"Winnipeg is poised for continued growth, supported by ongoing housing development and infrastructure investment. While this will put gradual upward pressure on prices, we expect any increases to be slow and measured," said Carlson. "First-time buyers may find it takes longer to save for a down payment as prices appreciate, but Winnipeg will remain one of the more accessible markets in the country, and the barrier to entry here will continue to be lower than in most Canadian cities."

Saskatoon, Saskatchewan, ranks twelfth among the most affordable cities in Canada, where 28.8 per cent of a household's monthly income would be required to service a mortgage payment, down from 32.7 per cent two years ago.

Regina, Saskatchewan
Aggregate Home Price Q1 2026: $397,900
2024 Provincial Median Total Household Income (Saskatchewan): $85,600
Estimated Monthly Mortgage Payment: $1,786.67
Percentage of Monthly Income Needed For Mortgage Payment: 25.0%
National Affordability Ranking: #5

To view property listings in Regina, click here: rlp.ca/2026-most-affordable-cities-Regina 

Winnipeg, Manitoba
Aggregate Home Price Q1 2026: $424,500
2024 Provincial Median Total Household Income (Manitoba): $81,900
Estimated Monthly Mortgage Payment: $1,906.12
Percentage of Monthly Income Needed For Mortgage Payment: 27.9%
National Affordability Ranking: #10

To view property listings in Winnipeg, click here: rlp.ca/2026-most-affordable-cities-Winnipeg

Saskatoon, Saskatchewan
Aggregate Home Price Q1 2026: $458,000
2024 Provincial Median Total Household Income (Saskatchewan): $85,600
Estimated Monthly Mortgage Payment: $2,056.54
Percentage of Monthly Income Needed For Mortgage Payment: 28.8%
National Affordability Ranking: #12

To view property listings in Saskatoon, click here: rlp.ca/2026-most-affordable-cities-Saskatoon 

Royal LePage 2026 Most Affordable Canadian Cities - Data Chart: rlp.ca/2026-Most-Affordable-Canadian-Cities-Chart

ONTARIO

Based on the percentage of income required to service a monthly mortgage payment, using provincial median household income data⁸ and city-level aggregate home price data,⁹ Thunder Bay ranks third among the most affordable cities in Canada. In Thunder Bay, 20.3 per cent of a household's monthly income would be required, an improvement from 2024, when 22.2 per cent was needed. While the city was ranked Canada's most affordable housing market in 2024, it moved to third place in 2026 as affordability improved at a greater rate in other markets.

"Thunder Bay continues to be a highly attractive and relatively affordable market, even as home prices have steadily increased in recent years," said Nathan Lawrence, sales representative and partner, Royal LePage Lannon Realty. "Limited inventory and strong buyer demand continue to support a seller's market and rising home prices. Despite these gains, affordability remains a key strength, supported by a diversified economy, strong employment opportunities, access to post-secondary education and healthcare, and a quality of life that offers a slower pace than larger urban centres."

Lawrence noted that Thunder Bay attracts a diverse mix of buyers, including young families, retirees, former residents returning to the region, and investors seeking stable recreational or rental properties. He added that the city's access to outdoor recreation, strong infrastructure and convenient transportation continue to attract people from across Canada.

"Looking ahead, I expect Thunder Bay to remain one of Canada's more affordable housing markets," added Lawrence. "While demand is expected to continue outpacing supply, investments in new rental housing and efforts to expand inventory should help create more housing options for residents. Overall, Thunder Bay continues to offer exceptional value and long-term stability for homebuyers."

Out of the 15 most affordable cities in Canada, only two are in the province of Ontario. Windsor-Essex ranks eleventh, where 28.7 per cent of a household's monthly income would be required to service a mortgage payment, down significantly from 36.4 per cent two years ago.

Among respondents in the Greater Toronto Area, 55 per cent say they would consider purchasing a home in a more affordable city. Their top choice is Edmonton (16%), followed by Thunder Bay (15%), Charlottetown (14%) and Windsor-Essex (14%). Respondents were able to select more than one answer.

Thunder Bay
Aggregate Home Price Q1 2026: $339,900
2024 Provincial Median Total Household Income (Ontario): $90,200
Estimated Monthly Mortgage Payment: $1,526.24
Percentage of Monthly Income Needed For Mortgage Payment: 20.3%
National Affordability Ranking: #3

To view property listings in Thunder Bay, click here: rlp.ca/2026-most-affordable-cities-Thunder-Bay

Windsor - Essex
Aggregate Home Price Q1 2026: $480,500
2024 Provincial Median Total Household Income (Ontario): $90,200
Estimated Monthly Mortgage Payment: $2,157.57
Percentage of Monthly Income Needed For Mortgage Payment: 28.7%
National Affordability Ranking: #11

To view property listings in Windsor - Essex, click here: rlp.ca/2026-most-affordable-cities-Windsor-Essex

Royal LePage 2026 Most Affordable Canadian Cities - Data Chart: rlp.ca/2026-Most-Affordable-Canadian-Cities-Chart

QUEBEC

Based on the percentage of income required to service a monthly mortgage payment, using provincial median household income data¹⁰ and city-level aggregate home price data,¹¹ Trois-Rivières ranks eighth among the most affordable cities in Canada. In Trois-Rivières, 27.3 per cent of a household's monthly income would be required, an improvement from 2024, when 28.5 per cent was needed.

"Trois-Rivières remains an affordable city, especially compared to the rest of Canada, but our position in the ranking has shifted down due to sustained home price increases over the past two years," said Martin Leblanc, real estate broker, Royal LePage Centre. "Since the pandemic, the local market went through a necessary catch-up in property values, which has narrowed the historical gap with the provincial average."

Leblanc also noted the region's strong employer base – particularly in the public sector, including the Université du Québec, the hospital network, and a few paper mills – as a key factor maintaining the area's appeal.

Out of the 15 most affordable cities in Canada, only two are in the province of Quebec. Sherbrooke ranks thirteenth, where 28.9 per cent of a household's monthly income would be required to service a mortgage payment, down from 30.8 per cent two years ago. Gatineau and Quebec City, both previously among the 15 most affordable cities in 2024, dropped out of the ranking in 2026.

"Sherbrooke is experiencing a major influx of buyers coming from Quebec City and Montreal," said Jean-François Bérubé, certified real estate broker, Royal LePage Évolution EB. "Many Baby Boomers and retirees are returning to the region in search of a quieter lifestyle, secondary residences, or countryside properties.

"Even though market inventory has grown, it simply hasn't kept pace with this influx, triggering a natural market adjustment and putting upward pressure on prices. Despite this increase, Sherbrooke remains genuinely affordable compared to other major Canadian markets. We still have a significant catch-up period ahead of us before reaching the pricing tiers of larger centres, which means real estate here is highly accessible and represents a strong investment opportunity."

According to Bérubé, buyers are drawn to Sherbrooke for the quality of life, excellent schools, and top-tier sports infrastructure. The local university and university hospital centre bring real economic and institutional opportunities. Combined with competitive salaries, a strong job market in the public and non-profit sectors, and immediate access to lakes and mountains, the appeal is undeniable.

Residents in the Greater Montreal Area are more likely to choose another city within their own province than their counterparts in the greater regions of Toronto and Vancouver. Among respondents in the GMA, 48 per cent say they would consider purchasing a home in a more affordable city. Their top choice is Sherbrooke (29%), followed by Trois-Rivières (25%) and Charlottetown (7%). Respondents were able to select more than one answer.

Trois-Rivières
Aggregate Home Price Q1 2026: $400,100
2024 Provincial Median Total Household Income (Quebec): $79,000
Estimated Monthly Mortgage Payment: $1,796.55
Percentage of Monthly Income Needed For Mortgage Payment: 27.3%
National Affordability Ranking: #8

To view property listings in Trois-Rivières, click here: rlp.ca/2026-most-affordable-cities-Trois-Rivieres 

Sherbrooke
Aggregate Home Price Q1 2026: $423,200
2024 Provincial Median Total Household Income (Quebec): $79,000
Estimated Monthly Mortgage Payment: $1,900.28
Percentage of Monthly Income Needed For Mortgage Payment: 28.9%
National Affordability Ranking: #13

To view property listings in Sherbrooke, click here: rlp.ca/2026-most-affordable-cities-Sherbrooke 

Royal LePage 2026 Most Affordable Canadian Cities - Data Chart: rlp.ca/2026-Most-Affordable-Canadian-Cities-Chart

ATLANTIC CANADA

Based on the percentage of income required to service a monthly mortgage payment, using provincial median household income data¹² and city-level aggregate home price data,¹³ Saint John, New Brunswick, ranks second among the most affordable cities in Canada. In Saint John, 19.6 per cent of a household's monthly income would be required, a significant improvement from 2024, when 25.1 per cent of monthly income was needed.

"New Brunswick continues to offer some of the most affordable housing options in the country, particularly in cities like Saint John, Fredericton and Moncton," said Shannon Auffrey, broker of record, Royal LePage Atlantic. "While home prices have increased over the past several years, they remain comparatively accessible when measured against larger urban centres. Along with the region's strong sense of community, buyers are often drawn to New Brunswick's cities for their natural beauty and convenient access to neighbouring provinces and the United States."

Auffrey noted that New Brunswick experienced a significant influx of residents during and immediately following the pandemic, as remote workers and retirees sought a more affordable lifestyle. While migration into the province has moderated in recent years due to evolving workplace policies and changes in immigration levels, the region continues to attract buyers drawn to its high quality of life, outdoor recreation opportunities and slower pace.

"Looking ahead, I believe New Brunswick will remain an affordable option for many Canadians, but affordability challenges are beginning to emerge for local buyers," added Auffrey. "Home prices have risen faster than wages in recent years, making it more difficult for some first-time buyers to enter the market. Continued investment in housing supply, particularly entry-level homes, will be critical to ensuring the province remains accessible and affordable for future generations."

Out of the 15 most affordable cities in Canada, five are in the Atlantic provinces. St. John's, Newfoundland and Labrador, ranks sixth among the most affordable cities in Canada where 26.3 per cent of a household's monthly income would be required to service a mortgage payment, down from 30.1 per cent two years ago.

"Compared to other Canadian cities, St. John's remains one of the most affordable housing markets in the country, but when you look at the local picture, residents have felt the pinch," said Jerry Boyles, sales representative, Royal LePage Property Consultants. "The chronic issue in our market is a lack of inventory relative to demand, which has driven prices higher. Interprovincial and international migration peaked in 2021 and 2022, following the pandemic, and created a surge in demand for housing. Compounding this is a persistent labour shortage in the construction industry, driven in part by an aging population that skews heavily toward retirement age."

Boyles noted that many residents who relocated from other provinces during the pandemic have since moved back. This has been driven by a challenging local job market, harsh winter weather, and a sense of isolation that keeps residents indoors and fosters a 'hibernation culture.'

"Our housing market has been through a period of transition in which prices climbed sharply, but we appear to be coming out the other side," said Boyles. "Natural population growth has always been modest here, and immigration levels are now receding. With less pressure on demand, we expect price growth to stabilize as inventory catches up. Looking ahead, that balance between supply and demand should work in buyers' favour and help restore a degree of affordability that felt out of reach over the past few years."

Fredericton, New Brunswick, ranks ninth among the most affordable cities in Canada, where 27.8 per cent of a household's monthly income would be required to service a mortgage payment, down from 32.0 per cent in 2024. In the same province, Moncton ranks fourteenth, where 29.5 per cent of a household's monthly income would be required to service a mortgage payment, down significantly from 36.9 per cent in 2024. Charlottetown, Prince Edward Island, ranks fifteenth, where 30.6 per cent of a household's monthly income would be required to service a mortgage payment, down from 36.6 per cent two years ago.

Saint John, New Brunswick
Aggregate Home Price Q1 2026: $265,900
2024 Provincial Median Total Household Income (New Brunswick): $73,000
Estimated Monthly Mortgage Payment: $1,193.96
Percentage of Monthly Income Needed For Mortgage Payment: 19.6%
National Affordability Ranking: #2

To view property listings in Saint John, click here: rlp.ca/2026-most-affordable-cities-Saint-John

St. John's, Newfoundland and Labrador
Aggregate Home Price Q1 2026: $377,900
2024 Provincial Median Total Household Income (Newfoundland and Labrador): $77,300
Estimated Monthly Mortgage Payment: $1,696.87
Percentage of Monthly Income Needed For Mortgage Payment: 26.3%
National Affordability Ranking: #6

To view property listings in St. John's, click here: rlp.ca/2026-most-affordable-cities-St-Johns 

Fredericton, New Brunswick
Aggregate Home Price Q1 2026: $377,200
2024 Provincial Median Total Household Income (New Brunswick): $73,000
Estimated Monthly Mortgage Payment: $1,693.73
Percentage of Monthly Income Needed For Mortgage Payment: 27.8%
National Affordability Ranking: #9

To view property listings in Fredericton, click here: rlp.ca/2026-most-affordable-cities-Fredericton

Moncton, New Brunswick
Aggregate Home Price Q1 2026: $399,300
2024 Provincial Median Total Household Income (New Brunswick): $73,000
Estimated Monthly Mortgage Payment: $1,792.96
Percentage of Monthly Income Needed For Mortgage Payment: 29.5%
National Affordability Ranking: #14

To view property listings in Moncton, click here: rlp.ca/2026-most-affordable-cities-Moncton

Charlottetown, Prince Edward Island
Aggregate Home Price Q1 2026: $428,200
2024 Provincial Median Total Household Income (Prince Edward Island): $75,300
Estimated Monthly Mortgage Payment: $1,922.73
Percentage of Monthly Income Needed For Mortgage Payment: 30.6%
National Affordability Ranking: #15

To view property listings in Charlottetown, click here: rlp.ca/2026-most-affordable-cities-Charlottetown

Royal LePage 2026 Most Affordable Canadian Cities - Data Chart: rlp.ca/2026-Most-Affordable-Canadian-Cities-Chart

About the Report

Royal LePage's Affordability Factor is based on the percentage of income required to service a monthly mortgage payment, using Statistics Canada 2024 provincial median total income of economic families and persons not in an economic family, and city-level aggregate home price data from the Royal LePage Q1 2026 House Price Survey. The mortgage calculation is based on a three-year fixed-term loan at 4.64%, amortized over 25 years with a 20% down payment.

About the Survey

Burson used the Leger Opinion online panel to survey 900 Canadian residents, aged 18+, living in Canada's three largest urban areas: Greater Toronto, Greater Montréal, and Greater Vancouver. The survey was completed between June 2nd and June 4th, 2026. Equal sampling was done within each city, with age and gender quotas. Weighting was applied to reflect the relative sizes of the three cities, according to 2021 census figures. No margin of error can be associated with a non-probability sample (i.e., a web panel in this case). For comparative purposes, though, a probability sample of 900 respondents would have a margin of error of ±3%, 19 times out of 20.

About Royal LePage

Serving Canadians since 1913, Royal LePage is the country's leading provider of services to real estate brokerages, with a network of approximately 20,000 real estate professionals in over 670 locations nationwide. Royal LePage is the only Canadian real estate company to have its own charitable foundation, the Royal LePage^® Shelter Foundation™, which has been dedicated to supporting women's shelters and domestic violence prevention programs for more than 25 years. Royal LePage is a Bridgemarq Real Estate Services^® company, a TSX-listed corporation trading under the symbol TSX:BRE. For more information, please visit www.royallepage.ca.

Royal LePage^® is a registered trademark of Royal Bank of Canada and is used under licence by Bridgemarq Real Estate Services^®.

SOURCE Royal LePage Real Estate Services