ADVERTISEMENT
Your browser is not supported. We do our best to optimize our websites to the most current web browsers. Please try another browser.
Skip to main content

The Most Affordable Cities in Canada for Solo Homebuyers: Report

The Most Affordable Cities in Canada for Solo Homebuyers: Report

Have you been looking for a place to call your own but are worried if you’ll be able to find one within your budget? Well, your luck might be about to change, according to a new report by Zoocasa. For Canadians on a single income and who dream of solo living, apartments are the most popular gateways to dip your toes in the real estate market. 

ADVERTISEMENT

Related: The Best Places to Buy Real Estate in Canada 2023 

Zoocasa determined the minimum down payment needed to purchase an average apartment in 15 regions across Canada and compared it to the after-tax single-household median incomes earned in each. Here are the top Canadian cities for buying an apartment on a single income. Happy apartment hunting! 

How Much Does an Apartment Down Payment Cost in Canada? 

Using prices from the Canadian Real Estate Association (CREA), here is a sneak peek at the most affordable cities and the minimum down payments needed.

  • Edmonton, Alberta: $9,155
  • Regina, Saskatchewan: $10,410 
  • Winnipeg, Manitoba: $10,955 
  • Calgary, Alberta: $15,155 
  • Moncton, New Brunswick: $15,530
  • Montreal, Quebec: $19,445
  • Vancouver Island, British Columbia: $20,270 
  • Ottawa, Ontario: $20,440 

The average apartment in Edmonton can go for around $183,100. Talk about a steal!

Related: Where to Live in Alberta Depending on Your Wants and Needs

Canada’s Most Expensive Real Estate Markets 

It may be no surprise that big city markets are a bit more difficult for homebuyers, especially if you’re on a single income. Here are the three cities that may be a bit pricier and take longer to save in terms of down payment, which is something to keep in mind. 

  • Vancouver, British Columbia: $48,740 
  • Toronto, Ontario: $45,370 
  • Victoria, British Columbia: $30,810 

For buyers looking in Vancouver, you’ll need to save for an average of 13.9 months before being able to pay the minimum down payment. Apartments in this area average $737,400. 

Wondering which other cities made the list? Read the full report here.

Photo courtesy of Getty Images. 



Latest News

DIY
Keep your drinks chilled in style this summer with this easy 5-minute pool noodle hack — perfect for pool days and lake hangs!
July 11, 2025
Elevating your kitchen could make a dull or bare gathering space feel more lively and inviting. You don’t need a complete overhaul to...
July 10, 2025
Freshen up your outdoor space for 2024 with these patio furniture picks from IKEA.
July 8, 2025
We've rounded up some of the best street festivals in Toronto. Read on to learn more and see which ones you don't want to miss!
July 4, 2025
From darker hues to natural textures, here are some of the hottest living trends and realistic ways to incorporate them into your space.
July 3, 2025
These DIY bug repellants will help you ward off mosquitos and bugs while keeping your skin, and the environment, happy.
July 2, 2025
Read on for ten celebrities who quietly own homes in Canada, from Muskoka to the Maritimes (and some might surprise you).
June 26, 2025
Check out the most popular cottage destinations across Canada.
June 24, 2025
DIY
Make your own stylish and sturdy DIY bike rack with this guide; it's easy, customizable and perfect for small spaces.
June 23, 2025
ADVERTISEMENT
ADVERTISEMENT
This content is restricted to adults of legal age.
Please enter your birthdate to confirm.
Date of Birth