Cost Of Living In Canada: How Affordable Is It?

While most people believe that living in Canada is prohibitively expensive, this is not the case. Some cities in Canada have a cheaper cost of living than most other cities in the United States and the rest of the world.

Some cities like Vancouver and Toronto indeed have considerably high living costs, but others like Calgary, British Columbia, or Ontario are affordable.

The cost of living in Canada varies from city to city. With the national government providing free public secondary schools and national health care, you’ll be able to save enough to channel to other more costly affairs. But, how much does it cost to live in Canada? Let's have a look:

Top Five Most Affordable Canadian Cities

Let's start with the top five most affordable cities in Canada to show how economical living is in this country. The reasoning is based on the total expenses compared to the potential income.

1 Winnipeg, Manitoba 2. Trois-Rivières, Québec 3. Edmonton, Alberta 4. Saint John, New Brunswick 5. Kingston, Ontario

Several factors must be considered before deciding on a city to take up residence.

1. Which city has a high demand for your profession, and does it pay well enough to cover your living expenses?
2. Which city offers a cost-effective way of life for a family or a single person?
3. Is there inexpensive child care or education in the city if you're relocating with your children?

Only when you've answered the above questions will you determine which city is the most reasonable for you to live in.

The Average Cost Of Living In Canada

You should earn between $42,000 and $59,000 per year to live a modest life in Canada with little extra expenses. This sum is only enough to live a simple lifestyle in most Canadian provinces.

A simple table showing the average cost of living in Canada is below:

The Average Cost Of Living For An International Student

Due to its friendly people, world-class universities, and cultural diversity, Canada is the most popular choice for people choosing to study abroad. An international student's average cost ranges from CAD 15,000 to CAD 20,000, depending on their preferences.

The following is a monthly cost estimate for an international student:

Two Of The Best Provinces To Raise A Family

For individuals with families, especially those with school-aged children, where you live will almost always be influenced by their comfort. Are schools nearby, for example, and are childcare facilities readily available?

Let's take a look at two of Canada's best provinces for raising a family in this respect. Ontario.

The city of Ontario has some of the best job opportunities in the country. You will be certain of obtaining a well-paying job, allowing you to care for your family comfortably. Check out in-demand-occupations, Ontario, to see what job opportunities are available in Ontario.

Living in Guelph, Ontario, is a little more affordable, especially if you have a family. If you prefer to live somewhere quieter and less crowded with your family, the city of Guelph is a better option. Though purchasing a home in Guelph may be more expensive than in Ottawa.

Ontario is home to some of Canada's best universities and colleges. MacMaster University, the University of Waterloo, and the University of Toronto are among them. Alberta

If you're looking for a place to raise a family in Canada, Calgary, a city in Alberta Province, is a good option. There are numerous promising work prospects in the city. Look for the most in-demand-jobs in Alberta

For example, Mount Royal University and The University of Calgary are two of Alberta's greatest post-secondary institutions.

Alberta is the most affordable province to live in with your family, having the highest household income rate in Canada. If you want to buy a family home, the average price is $596,400.

FAQs

Where is the best and safest place to live in Canada?

Québec is the finest place to live in Canada overall. It is clean and safe, and living costs are low. At an average of $249,000, you can purchase a good house. The average cost of living in Québec is $869, excluding rent.

Hamilton, Ontario, is next on the list. Guelph, Ottawa, Calgary, and Brandon are also some of the ideal places to raise your children.

How much should I expect to pay for rent in Canada?

Renting as a newcomer in Canada is cheaper than buying. Besides, it's wise first to know the city well before permanently making it your home.

The cost of rent will depend on the city and the size of the house. On average, expect the rent in the city to be higher than in the outskirts. The minimum rent in Canada is $350 for a room and above $2,000 per month for bigger houses.

Are Healthcare and Education free in Canada?

Because the government funds public primary and secondary education, it is available to all children. On the other hand, private education is paid for by the parents. The government receives funding for schools through the taxes you pay.

Every Canadian is also entitled to free medical coverage provided by the government. The citizens' taxes also support the healthcare plan.

Conclusion

The exchange rate is one of the many considerations before relocating to Canada. How much money do you have from your home country, and how much will it be worth in Canadian dollars when converted?

But don't worry about it; sign up for Remitbee for the most reasonable exchange rates and international money transfer services.