Ranking looks at home prices, household income, crime rates, unemployment
Canadians seeking a balance of safety, affordability, and employment opportunities are increasingly turning to mid-sized cities, according to a new report from real estate marketplace Zolo.
The Best Places to Live in Canada report analyzed 37 regions and cities, evaluating factors beyond just home prices.
The study considered several factors in coming up with its list:
- Home price
- Household income
- Population growth
- Unemployment rate
- Crime rates
- Access to a primary healthcare provider
- Sunny days per year
- Walkability
Top cities for livability
Ottawa, along with the Simcoe and Guelph regions, emerged as the top choices, presenting affordable alternatives to more expensive Ontario markets, such as Toronto and Mississauga.
According to the report, the benchmark home price in Ottawa stands at $643,700, and the city has a low crime severity index of 52.91. Additionally, Ottawa has the third-highest average household income in the country at $126,700.
“The average home price in Canada was $699,117 in May 2024, which is no small sum even for high-earning families,” said Zolo.
Mid-sized cities such as Halifax-Dartmouth, and Kitchener-Waterloo also ranked highly, making the top 10 in offering a mix of amenities, employment opportunities, and affordable housing.
Source: Zolo
Saskatoon, Saskatchewan is a growing city, said Zolo, that boasts 320 days of sunshine per year and a lower-than-average benchmark home price of $398,600.
“It’s no surprise that Edmonton is on our top 10 list since many Canadians are moving to Alberta. Canada’s fifth largest city with over a million residents, housing is still affordable, with a benchmark home price of $390,200,” said the report.
Challenges for major urban centers
Conversely, Toronto and Vancouver, often considered the most desirable places to live due to their walkability and proximity to services, ranked lower on the list.
High home prices, with Toronto at $1,205,800 and Vancouver at $1,128,100, have pushed these cities to the 24th and 32nd spots, respectively.
The Zolo report suggests that these costs make the cities less accessible for the average Canadian.
