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These are the 15 most affordable cities in Canada, Royal LePage says
cost-of-living crunch, according to a report from Royal LePage, which names the top 15 most affordable cities in Canada.An average of half (51 per cent) of respondents to the report’s survey who were from Toronto, Montreal and Vancouver said they would consider moving to one of those more affordable cities if they were able to find a job or work remotely.This also comes after a separate report from rates.ca in March showed that mortgage affordability was getting worse in most major Canadian cities.“Home prices in Canada’s largest cities have moderated over the past couple of years, but for many buyers, the math still doesn’t work,” Phil Soper, president and CEO of Royal LePage, said in a press release.“As barriers to entry remain high in the country’s most expensive urban centres, relocating to a more affordable city is becoming less of a last resort and more of a deliberate strategy. Aspiring homeowners who cannot secure a foothold in these markets are seriously weighing their options.”The report from Royal LePage ranks 15 cities by its own “Affordability Factor,” which it says is based on the percentage of income needed to cover a monthly mortgage payment — the lower the percentage point, the better.Royal LePage says it factors in 2024 income data from Statistics Canada, as well as its own aggregate home price data from the first three months of 2026.