The housing market in Canada is highly unpredictable. In 2017, the average cost of houses remained about historic low in many provinces and cities. Below are the Canadian cities where you can buy a house for as low as $50,000 per year.
The average cost of a house is $330,000 in Saskatoon. This city’s economic condition is not so good because of the crash in oil price and rising joblessness. These factors have dragged down the cost of housing in Saskatoon. If you, fortunately, get a job in this city, you can own a house at an affordable price.
The average house price in Regina is about $329,000. The reasons for the low housing cost in this city include rising unemployment. However, the prospect of getting a job in Regina is relatively greater than that in Saskatoon. If you earn at least $50,000 a year, Regina is an affordable city for you to live.
Winnipeg is a Canadian city that is known for its affordable housing. You can buy a house in this city for as low as $296,000. The good news is that Winnipeg’s economy is also delivering good performance these days. It is one of the affordable Canadian cities to live.
While the average house rental in Halifax is relatively greater, the average price of a house is drastically lower. You can buy a house in this city for an average price of $284,000.
5. Quebec City
Quebec City is popular for its natural beauty and landscapes. Not only this, it offers you the opportunity to buy a home at an affordable price. The price of a house in Quebec City equals almost one-third of the house price in Toronto.
Note: It is important to mention here that while the above Canadian cities currently offer affordable houses, the real estate sector is highly unpredictable. Government rules and regulations, economic conditions, and other micro and macro environmental factors can push the prices of houses up in these cities anytime.
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