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2022 Guide: The 10 Most Affordable Cities In Ontario

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Without a doubt, Ontario is among the best cities in Canada. Whether you prefer to live in the country or in the city, we are confident that you will find the perfect spot in this province. There are numerous amazing cities in which to purchase your next home. If you are on a tight budget, we have compiled a list of the most affordable cities in Ontario.

For many years, Ontario was regarded as having the highest real estate market. First-time buyers will take a glance at the prices of homes in Toronto and its nearby regions only to discover that they cannot afford them. If you are willing to make a daily commute, the situation changes. There are affordable cities in Ontario that may provide everything you seek.

Before we begin our list, one point needs to be clarified. When we talk about some of the most reasonably priced urban centers in Ontario, we don’t just mean the cost of a house. Affordability in the real estate market also pertains to the average income level required to purchase a home.

This means that all cities with a higher price-to-income ratio will fall into this category. Read more to discover the 10 most affordable cities in Ontario.

Most affordable cities in Ontario.
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Unemployment rate

By examining each city’s present and prospective health of the economy, the economic data and Statistics Canada suggests that most house owners will need a mortgage to buy a home; secure, gainful employment is a crucial indicator of mortgage approval.

That means buyers need jobs, and a city with a perennially high unemployment rate will not support workers in need of work due to the inflated costs (which is a critical element, thanks to the thriving economy) in Ontario.

Affordable large cities

Most affordable large cities have much higher raw average home prices than the national average. The excellent thing is that these cities’ residents have a higher average household income. Here are the cities with the best price-to-income ratios.

1. Ottawa

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The first thing that comes to mind when you think of Ottawa is probably the city’s vibrant center city core, not inexpensive real estate. The good news is that the median household income in Ottawa will be enough to find you and your family an affordable place to live.

Despite the fact that the average house price in Ottawa exceeds $400,000, our findings indicated that the total household income is more than $25,000 higher than the amount required to buy a house, making it one of the most affordable large cities in Ontario.

2. Windsor

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Windsor, aka “The Automotive Capital of Canada”, ranks second on the list of the most affordable cities in Ontario.

This big city is located in southwestern Ontario and is a lovely city. The city is located directly across the Detroit River from Detroit, Michigan, the United States. It is well known for its influence on the Canadian automotive industry.

Windsor, one of Ontario’s larger cities, has an average home price of $322,000. A two-bedroom apartment can be rented for $1,022. Because of its proximity to Detroit, countless Windsor residents commute to work every day.

Windsor is also home to The University of Windsor, which is ranked as one of the best universities in the country.

3. Sudbury

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Sudbury is the next city on our list of the 10 most affordable cities in Ontario.

This Ontario city, formally known as Greater Sudbury, is the most affordable area in Northern Ontario. Sudbury has a thriving workforce, according to the 2016 Canadian Survey, with a community of 161,531 people.

Sudbury is the world’s hard rock mining capital, with nine mines, multiple mills, two smelters, and a nickel refinery. A single-family home in Sudbury can be found for $209,000, and a 1-bedroom apartment can be found for $1,700.

4. London

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London ranks fourth in the list of the most affordable cities in Ontario.

No, it’s not London, England. In southwestern Ontario, Canada has one London city. This is one of the major cities which was named after John Graves Simcoe, a British Army general and the first lieutenant governor of Upper Canada from 1791 to 1796.

An average home price in London costs around $536,000 on average, while a 2-bedroom condo costs $1,900, making it one of the most affordable areas in Ontario.

It’s worth noting that the city’s real estate prices have been steadily rising. However, it is still an affordable large city that you can shift to.

Affordable medium-sized cities

After we’ve gone over the most reasonably priced large cities in Ontario, it’s time to look at the most affordable medium-sized cities.

The average-priced house in medium-sized cities is relatively lower than in larger cities, as expected. Based on a comparison of housing prices and household income, our best bets for the most reasonably priced medium-sized cities in Ontario are:

5. Thunder Bay

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Thunder Bay ranks fifth in the list of the most affordable cities in Ontario.

No, it is not what it appears to be. Thunder Bay was not named after a storm. Thunder Bay on Lake Superior inspired the city’s name. Thunder Bay is sometimes referred to as “Lakehead” or “Canadian Lakehead” due to its location at the end of Great Lakes navigation on the Canadian side.

According to the housing market, an average home price in Thunder Bay costs $323,000, while a three-bedroom apartment costs $1,500.

6. Guelph

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Next on the list of the most affordable cities in Ontario is Guelph.

Per the Canadian Real Estate Association, the average home sells in Guelph from the beginning of 2021 to the end of July was $867,056, which was 28.3 percent higher than the same period last year.

Guelph is only 45 minutes from Toronto and is known for having a perfect balance of city life and a close-knit community along with a fast-paced environment.

The best part is that its residents make more than enough money to afford real estate in the city, which typically costs more than $500,000 on average making it one of the most affordable medium-sized Ontario cities.

7. Ajax

10 most affordable cities in Ontario
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If you consider population increase to be a sign of development, Ajax is one of the best cities here, in Ontario.

This given city is among the most affordable cities in Ontario in terms of price-to-income ratio, and the area has seen increased population growth in recent years.

Many attribute this to the area’s unique location, which provides easy access to both Toronto and wildlife reserves and other natural sanctuaries.

Affordable small cities

Small cities are excellent places for young families to live a more relaxed lifestyle and are even more suitable for single-income earners. The point to note here is that, unlike Toronto residents, these small city residents won’t be able to enjoy a populated neighborhood.

Focusing on average income and price-to-income ratio, here are our lineups for the small-sized cities with more affordable real estate markets.

8. Deep River

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Next on the list of the most affordable cities in Ontario is the Deep River.

Deep River is a beautiful town in Renfrew County, located all along the Ottawa River. The Deep River area offers beautiful scenery as well as excellent boating on the broad river and hiking in the hills across the Ottawa River.

There are also beautiful beaches, a thriving arts scene, a ski hill, a golf course, and a yacht club. Deep River is among the most affordable housing in the province. A house costs an average of $400,000, while a one-bedroom apartment starts at $1,400 ensuring an affordable living in Deep River.

9. Rainy River

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Rainy River is yet another pleasant town that provides one of the most affordable small-sized cities in Ontario. It is found in the northern corner of Ontario, Canada, on the Rainy River.

The town is small and shares boundaries with Minnesota, USA, but it has affordable real estate. This area has also witnessed population growth in recent years.

The average price of a home in this area is $359,000. Rainy River does not have apartments for rent, but private cottages can be rented for less than $1,000. You can say that the Rainy River is one of the cheapest cities in Ontario.

10. Smooth Rock Falls

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The last on the list of the top 10 most affordable cities in Ontario is Smooth Rock Falls.

Smooth Rock Falls’ average home price is $101,431. Smooth Rock Falls is ideal for new families and single-income earners due to its affordable housing costs. Smooth Rock Falls also offers a variety of recreational opportunities, such as snowmobiling, fishing, and hunting, as well as award-winning trails.

Bottom line

Finding the least expensive locations to purchase a home in Ontario cities is the most critical element but it may not be so difficult.

As long as you know what your needs are, and compare an area’s average income to the cost of its property investment (home to price ratio), you should be able to find the right home. Be it large, medium, or smaller cities, there is always an option for you. Be sure to research thoroughly about real estate in order to make the absolute best choice!

We hope that our list of the top ten most affordable cities in Ontario assists you in deciding which area is best for your family.

Written by Amolika Verma

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