Top 20 Most Expensive Cities in Canada 2021!

Most Expensive Cities in Canada

If you’re searching for the most expensive cities in Canada, you’re at the right place.

Canada is a land of opportunities!

When planning a relocation, you likely have a budget in mind. In Canada, there is a wide disparity in the cost of living from one city to the next.

The cities with the highest prices are known as the most expensive cities. The reason for this isn’t that other cities are cheap. Instead, it is that these cities see higher demand.

Therefore, higher prices are due to various reasons that we will go in-depth in this article.

Are you planning to move out from your present hometown to start a new life in Canada?

It makes sense to learn about the top 20 cities that are considered to be the most expensive cities in Canada. Keep reading!

Factors That Indicates An Expensive City

There are many factors that indicate whether a city is expensive or cheap. To start with, there are real estate prices, but also many social indicators play a role in this issue.

Expensive cities are always associated with worldwide popularity, rich culture and booming economies.

Real Estate

In the real estate world, what differentiates a “hot” market from a “slow” one is demand.

If people are lining up to buy homes in a given market, then that market is considered to be in “high demand.” As a result, the prices of homes there will likely keep going up.

Tourism

Tourism helps to bring money to a place. All popular places are preferred by tourists.

Places with a good climate, natural beauty, shopping opportunities and above all, cleanliness are rated as the most tourist-friendly places by agencies.

These are some cities that have gotten the attention of the whole world with their attractive locations and have attracted tourists from all across the globe.

Cleanliness and safety are given high priority in these cities, and it makes visit more comfortable and enjoyable for the visitors.

Employment Rates

A significant factor that indicates the city as an expensive one is the employment rate. If a city has a high employment rate, then it indicates to be a favourable location for people.

This is because the city produces more jobs, and there are various opportunities for job seekers. Cities with a lower percentage of unemployment rate indicate to be the most expensive cities in the world.

Additionally, average salaries are higher than in other cities.

Urban Amenities

Urban amenities are the qualities of a city that make it pleasant and attractive to live in. As a rule of thumb, people pay higher rents and prices in order to live in places where there is more to offer them, both in terms of goods and services and in terms of social interaction.

Presence of Corporate Headquarters for Major Companies or Organizations.

One of the key factors in determining which cities are expensive is the presence of corporate headquarters for major companies or organizations. This makes the city attractive to other businesses. It, in turn, brings even more business people to the city.

General Living Expenses

General expenses like housing and transportation should be taken into consideration.

Services such as food and gas should also be studied when attempting to determine the cost of living, not only for the individual but also for a family. The “little things” also have an impact on the expenses one incurs every month, so don’t forget about them.

Top 20 Most Expensive Cities in Canada

Toronto, ON

Toronto is a beautiful city with a flourishing employment scene and a plethora of entertainment options.

The city of Toronto is known for being one of the most populous, multicultural cities in Canada.

Known as the financial centre of Canada, this city has one of the highest numbers of corporate headquarters found anywhere in the world.

When you factor all this together along with equally thriving tourism industry, you have yourself one expensive city on your hands.

Vancouver, BC

Vancouver has held the title of one of the most expensive cities for years, but it doesn’t come cheap.

The city is known for its unrivalled natural beauty, world-class restaurants and vibrant arts and culture scene, which all contribute to Vancouver’s high livability.

Vancouver is not just the most expensive city in Canada, but one of the most expensive to live in North America.

Its population is roughly 600,000, which makes it around half the size of cities like San Francisco, New York City or Los Angeles.

It has a mild climate and a stunning natural setting. Set in BC’s lower mainland bordering on the Strait of Georgia and with a view of the snow-capped Coastal Mountains.

Vancouver has many attractions, including some that are well known throughout North America. Some are; Stanley Park, Grouse Mountain, Capilano Suspension Bridge Park, Granville Island Public Market, and English Bay.

Burnaby, BC

Burnaby, British Columbia, is named after the legislator, Robert Burnaby and is a multicultural suburb of Vancouver.

The prices are higher than some other parts of Canada, with similar housing costs to the lower mainland of British Columbia.

Burnaby is considered among the most admired cities in the world. The city offers beautiful vistas of water and mountains, surrounded by green hills and parks. All of these are within easy reach of downtown Vancouver and the international airport.

Burnaby covers an area of 98.6 square kilometres and had a population of 232,755 in 2016. It is the third most populous city in the province of British Columbia, Canada, after Vancouver and Surrey.

Calgary, AB

Calgary is the largest city in the province of Alberta. It is situated at the confluence of the Bow River and the Elbow River in the south of the province.

The city anchors the south end of what Statistics Canada defines as the “Calgary–Edmonton Corridor.” The city had a population of 1,239,220 in 2016, which makes it Alberta’s largest city and Canada’s third-largest municipality.

Calgary ranks as the most expensive city to live in in Canada. The rise in the number of jobs has led to an increase in rental rates across the city. According to the Canada Mortgage and Housing Corporation (CMHC) rental market survey, the average one-bedroom apartment rents for $1,049 per month.

Victoria, BC

Victoria is the capital city of the Canadian province of British Columbia. It has a population of 94,000.

Furthermore, it is a beautiful city located on southeastern Vancouver Island, not to be confused with Vancouver, which is on the mainland west of the island.

The region has very mild weather; Victoria rarely sees extreme temperatures or heavy snowfall.

Ottawa, ON

Ottawa is one of the most costly places to live in Canada, having the third-highest cost of living in the nation. The reason behind this high rate is because of its prosperous economy.

Ottawa is Canada’s capital, which is known to be one of the leading centers for development in North America.

Montreal, QC

At the time of the 2011 Census of Canada, Montreal was ranked as the fourth most populated metropolitan area in the country after Toronto, Vancouver and Ottawa-Gatineau.

Rent prices in Montreal are a bit high. However, food and transportation costs are moderate. Additionally, it has a vibrant economy and a strong job market.

Edmonton, AB

Edmonton, Alberta, is the capital city of the Canadian province of Alberta. Edmonton is on the North Saskatchewan River and sits at the centre of the Edmonton Metropolitan Region, which surrounds central Alberta.

While housing in Edmonton is much more affordable than in big cities like Toronto or Vancouver, it has become more expensive in recent years.

Winnipeg, MB

Winnipeg is Canada’s 5th most populous municipality in the province of Manitoba. As of the 2016 census, Manitoba had 1,278,365 residents.

Located near the longitudinal centre of North America, Winnipeg is just south of Canada’s busiest and most important grain port. It is near the transcontinental route for all southwestern railways.

Brampton, ON

Brampton is a Canadian city in Southern Ontario. It’s the third-largest city in the Greater Toronto Area and the ninth-largest municipality in Canada, with a population of 523,911 as of the census in 2011.

Because of the great economic growth in Brampton, home prices are increasing at a steady pace.

It is home to high-rise apartment towers, spread-out subdivisions and some of the country’s priciest real estate.

Quebec, QC

The province’s various rivers were used to ship logs and timber, as well as to transport nickel, uranium and other mining products.

With no natural population centre, Québec City remains a commercial and transportation hub for the province.

It is now the headquarters city of the Canadian Space Agency and hosts the Université Laval, one of Canada’s largest universities.

Traditional industries such as food processing continue to play a significant economic role. Offshore oil production started in the 1970s.

The city now hosts several technology companies that provide goods and services to the aerospace and health sectors, among others.

With a gross domestic product of $441.4 billion dollars in 2018, it makes up about one-fifth of Canada’s total GDP.

Hamilton, ON

Hamilton, Ontario, is a city with a very high cost of living, especially when it comes to renting apartments. In total, Hamilton has around 5107population.

The name “Hamilton” is actually quite popular since there are about ten other cities in the world named the same thing. In total, there are over 100 places named Hamilton worldwide.

London, ON

Another most expensive city in Canada to live in is London, Ontario. Kingston, ON. London, Ontario is a Canadian city in southwestern Ontario, just north of Lake Erie and the U.S. border.

It’s home to the University of Western Ontario. Among the city’s range of museums is Museum London, a showcase for regional art.

Regina, SK

Regina is the capital city of Saskatchewan, located in the central part of the province. The city has a robust economy and is home to some of Canada’s top businesses, such as Cameco, Potash Corporation of Saskatchewan, and Federated Co-operatives Limited.

Mississauga, ON

Mississauga has something for everyone. It is populated as well as a city with plenty of cultures. Furthermore, it is home to many offices of major Canadian and multinational corporations.

Some of the leading industries are aerospace, food processing, information technology, pharmaceuticals and financial services.

From specialized shopping districts that offer far more than the typical mall or high street to an über-cool arts scene, Mississauga has no shortage of things to do on any given day.

Other expensive cities in Canada are;

  1. Saskatoon, SK
  2. Oshawa, ON
  3. Windsor, ON
  4. Charlottetown, Prince Edward
  5. Kelowna, BC

FAQs

Which are the richest cities in Canada?

Toronto, Vancouver, Calgary and Montreal have been popularly named as the top cities to live in Canada. Apart from being the most expensive Canadian cities to live in, they are also the hubs of education and job opportunities.

What is the poorest city in Canada?

One of the least expensive cities in Canada is Trois-Rivières, Québec.

Final Note

There are many factors to hold in mind when calculating which cities are the most expensive in Canada.

When examining Expensive Cities, you should also take into account: weather, employment and salary opportunities, and business costs. Finding the right place to live in Canada depends on your lifestyle.

Now it’s time to check the list and see what cities and parts of Canada might offer you better chances!

 

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