Royal LePage ranks Canada's 15 most affordable cities

Royal LePage has identified the 15 most affordable cities in Canada for homebuyers, based on a measure it calls the “Affordability Factor.” The ranking compares local incomes with estimated monthly mortgage costs and uses 2024 income data from Statistics Canada alongside homeprice data from the first three months of 2026. Lethbridge, Alta., topped the list, followed by Saint John, N.B., and Thunder Bay, Ont. Other cities on the list include Red Deer, Regina, St. John’s, Edmonton, Winnipeg, Saskatoon and Charlottetown. The report says the figures assume a 20 per cent down payment, a threeyear fixed mortgage rate of 4.64 per cent and a 25year amortization. The report also found that many Canadians in Toronto, Montreal and Vancouver would consider moving to a cheaper city if they could find a job or work remotely. Royal LePage said younger Canadians were the most willing to relocate, reflecting how housing costs continue to shape where people can afford to live.