Best Places To Live In Canada Ranked #1–#10

Despite their popularity, most magazines claim that Vancouver and Toronto did not rank among the top cities. Regardless of the fact that these centers have a stellar reputation for helping immigrants.

The top ten best places to live were determined by experts after considering a variety of factors, including real estate prices relative to income levels. We also considered family-friendly amenities, accessibility to excellent educational institutions, and employment prospects.

There were 415 Canadian cities ranked by money sense. Experts couldn’t use factors like a location’s natural beauty or the welcoming vibes generated by locals. Ten other objective characteristics were used to arrive at the outcome.

 

Best Places To Live In Canada Ranked #1–#10

These were real estate availability, population growth, economic development, crime rates, climate, infrastructural development, and cultural entertainment options.

 

 

1. Oakville (Ontario)

Oakville, a city 30 km outside of Toronto, has the most inhabitants at 209,000. There is a 5.7% unemployment rate.

New, high-quality housing would set you back around $1.2 million, and the average yearly household income is $161,540 ($77,640 net), ranking it eighth in the nation. The monthly rent is $1,460, but you’ll need to save for seven and a half years to buy a house here.

Oakville appears to be a fantastic location for affluent internationals from the outside. However, Mayor Rob Burton disagrees, stating that individuals from all walks of life make up the neighborhood.

The analysis conducted by Money Sense ranks it as the top spot for new residents of the country, as well as one of the top spots for retirement and raising children, ranking third and fifth, respectively.

While many commute to Toronto or Hamilton, they may escape to a peaceful suburb every day to enjoy a pleasant climate, sophisticated infrastructure, beautiful scenery, and a plethora of cultural attractions—all while the unemployment rate is high.

 

2. Ottawa (Ontario)

Due to its low cost of living and relatively stable economy, Ottawa has topped this rating for the past two years running. Even though there are nearly a million people living in Canada’s capital, it is only in second place this time.

Originally a major industrial hub, Ottawa has evolved into a vibrant cultural and technological hub. The environmental situation has improved dramatically as a result of the reorientation, and the local populace now boasts one of the highest levels of education in the country.

There was a 5.1% unemployment rate in Ottawa as of March 2018. Services (such as teaching and healthcare) employ the vast majority of the population. After subtracting all required expenditures, which amounts to $57,510, the typical family’s annual income is $114,280.

Since the average cost of real estate is $510,360, saving money for your own home won’t take much time—about 4.5 years. Alternatively, you can rent a two-bedroom flat for $1,240/month.

 

3. The Quebec mountain peak of Mount Royal

The third place goes to a little village northwest of downtown Montreal that is home to 21,170 inhabitants. The population growth over the past five years is moderate, at about 5%, despite the good living circumstances. The 6.3% unemployment rate could be a contributing factor.

Even though things are looking up here. Real estate would cost around $1.1 million and the rent for a two-bedroom flat would be $1,110 with an average yearly household income of $191,670 ($92,170 net).

Over the past twelve months, rents have not changed. It will take somewhat less than six years to save enough money to buy a home of your own.

The centenary of the city was celebrated in 2012. Because of the way it blends modern office space with nature—the centre is encircled by greenery—Mount Royal was mostly designated as a national historical asset in 2008. A number of educational institutions, a library, and a well-established network of roads and bridges all intersect in this city.

 

4. King (Ontario)

A little town north of Toronto with 26,700 permanent people. The population, meanwhile, has increased by 18.4 percent in just five years. Along with a library, sports organizations, and schools, King boasts a well-developed infrastructure. Very high up in the corporate and agricultural worlds. At the same time, 5.7% of the population is out of work.

On average, it will take 7.5 years to save enough money for a $1.4 million home, with a family salary of $191,000 per year ($93,860 net). The monthly rent for a two-bedroom flat has increased by 4.2% in the past year, and it now costs $1.4 thousand.

 

5. Toronto (Ontario)

With 2.9 million residents, Toronto is one of the most populous cities in Canada. However, the unemployment rate is 5.7%, which is on pace with Milton. What’s more, the average family income is $105,340 per year, or $52,180 net (after statutory deductions and fees).

However, with an average price of $880,920, Toronto real estate is also less expensive. Despite this, a two-bedroom flat will set you back $1,430 a month, up 4.3% from a year ago—more than Milton. The time it takes to save enough to purchase a home or flat is little over eight years (8.4).

Some have referred to Toronto as Canada’s economic engine. It is among the most prominent megacities on the planet. The city’s uniqueness is in its support of other peoples’ cultures and traditions, thus even though half of the locals are immigrants, the cultural contrast is not bright. Toronto is among Canada’s top cities in terms of the concentration of universities, colleges, and sports arenas.

 

6. Milton (Ontario)

With a population of 120,560, Milton is situated 40 kilometers away from Toronto. Also, excluding Cochran (+31.5%) and Chester-mere (+24.1%), the population has increased at one of the quickest rates in the last five years, increasing by 22.4%. Its convenient location near Canada’s largest city, Toronto, and excellent transport links to the city are driving this trend.

Milton has a 5.7% unemployment rate. With a typical yearly income of $125,800 ($59,650 after taxes and fees) and housing prices of $1.1 million, saving for a down payment on a home would take nine years on average. The cost of renting a two-bedroom flat has increased by 3.8% in the last year, and now it costs $1,250 per month.

 

7. Brossard (Quebec)

With an estimated 89,700 residents, the city ranks lower than the other three. In a similar vein, the jobless rate stands at 4.9%. In contrast, buying a house is a more manageable financial goal; doing so will take somewhat less than five years (4.7).

Despite a decreased average yearly income for a family of four ($97,130), after subtracting essential costs, it stays around $49,200.

However, a two-bedroom flat may be rented for $800, and the average cost of housing is $456,440. There was a 2.2% increase in rent during the previous 12 months.

 

8. Delta (British Columbian)

There are around 110,000 people living in the Greater Vancouver metropolitan area, which includes the city of Delta. When compared to Vaughn and Westmount, the 4.3% unemployment rate stands out.

However, saving for a down payment on a house will take approximately nine years. Given that a home will set you back $1 million and the typical family income is $114,590 (after taxes and other statutory deductions, which brings the total to $59,170), it’s clear that there is a significant income gap.

A monthly budget of $1,160 will cover the cost of a two-bedroom flat. Rent in the city has increased by 3.6% in the last year.

 

9. Westmount (Quebec town)

The southwest province suburb of Montreal, which is home to only 21,000 people, has an increased unemployment rate of 7.5% compared to the previous year. Several other metrics, however, show that it is much ahead of the pack.

After subtracting all necessary expenses, a household with an annual salary of $240,200 would have approximately $115,820 left over.

At $1.6 million for a house and $1,550/month for a two-bedroom flat, the prices aren’t drastically more than in Vaughan.

In case you were wondering, rental prices in this area have remained unchanged for the past twelve months. With an average real estate price-to-income ratio of 6.6%, you’ll need less savings to own a house or flat.

Because West-mount covers just 4 square meters, there may not be many people living here, yet there is a very high population density. The city’s excellent public schools, sports arena, library, and abundance of parks contribute to its reputation as an upscale residential area.

 

10. Ontarian Vaughn

With a population of 332,250 in March 2018, the city in the province’s southern region has an unemployment rate of 5.7%.

Here, the building industry is among the most robust. After taxes, all expenses, and essentials are paid, the average household income in Vaughan is $130,190. With $63,930 left over, it can be used for entertainment or saved for a down payment on a house.

Renting a two-bedroom apartment will cost you around $1.4 thousand per month, and the property costs around $1.4 million (hereafter – the average cost of a property on the primary market; of course, you can locate a house or apartments for less money).

The ratio of housing expenses to yearly income is 10.4, and rent is increasing at a rate of roughly 4% each year. In other words, you should plan to put money aside for about 9.5 years.

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