The Royal LePage 2026 Most Affordable Canadian Cities Report examines how housing affordability is shaping Canadians’ decisions about relocation and where they would consider living.
“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,” said Phil Soper, president and CEO, Royal LePage. “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, and renters – unburdened by existing roots – are more likely to make that move than established homeowners.”
“Canadians are remarkably mobile in theory, but less so in practice,” noted Soper. “Many people dream about relocating to a more affordable city or province, yet the number that actually relocate is smaller. Career opportunities, family obligations and established social networks are powerful forces. Still, as housing affordability challenges persist in the country’s largest urban centres, more buyers are widening their search and seriously evaluating markets they may never have considered just a few years ago.”
Key highlights of the release
- Lethbridge tops the list of most affordable cities in Canada, followed by Saint John; Thunder Bay slips from first to third spot.
- 61 of 62 major Canadian cities recorded an improved affordability factor in 2026, compared to 2024.
- 55% of respondents in the Greater Toronto Area, 48% in the Greater Montreal Area and 46% in Greater Vancouver would consider relocating to one of the 15 most affordable cities.
- Sherbrooke is the most popular destination among respondents in Montreal, while Edmonton remains the top-ranking choice among residents in Toronto and Vancouver.
- Gen Z and Millennials are more likely to relocate in order to access more affordable housing compared to older generations.
