Housing affordability has improved across much of Canada over the past two years, but for many residents of the Greater Toronto Area, homeownership remains a challenge.
According to Royal LePage’s 2026 Most Affordable Canadian Cities Report, 61 of Canada’s 62 major housing markets have become more affordable compared to 2024. Yet despite this improvement, 55% of GTA residents say they would consider relocating to one of Canada’s 15 most affordable cities if remote work or local employment opportunities were available. (Royal LePage)
This suggests that affordability is no longer just a question of mortgage rates or home prices. Increasingly, Canadians are weighing lifestyle, cost of living, and long-term financial flexibility when deciding where to live.
Canada’s 15 Most Affordable Cities in 2026
Royal LePage ranked cities based on the percentage of household income required to service a mortgage payment.
Rank | City |
|---|---|
1 | Lethbridge, AB |
2 | Saint John, NB |
3 | Thunder Bay, ON |
4 | Red Deer, AB |
5 | Regina, SK |
6 | Edmonton, AB |
7 | Trois-Rivières, QC |
8 | Quebec City, QC |
9 | Sherbrooke, QC |
10 | Winnipeg, MB |
11 | Saskatoon, SK |
12 | St. John’s, NL |
13 | Windsor-Essex, ON |
14 | Moncton, NB |
15 | Gatineau, QC |
Among GTA residents considering a move, Edmonton remains the most popular destination, with 16% of respondents identifying it as their preferred relocation market. Edmonton also ranked highly among Vancouver residents, reflecting growing interest in cities that offer a combination of affordability, economic opportunity, and quality of life. (Royal LePage)
Why Are People Considering a Move?
The reasons extend beyond housing costs alone.
Many buyers are finding that relocating can provide:
- Larger homes for the same budget
- Lower monthly housing expenses
- Better work-life balance
- Access to outdoor recreation and green space
- Greater long-term financial flexibility
With hybrid and remote work arrangements becoming more common, proximity to downtown offices is no longer the primary factor influencing housing decisions for many households. (newswire.ca)
What Does This Mean for the GTA?
While some buyers are exploring opportunities outside the GTA, Toronto remains Canada’s largest economic centre and continues to attract newcomers, investors, and businesses.
However, today’s buyers are more price-sensitive and value-conscious than they were during the pandemic market boom. As affordability improves in other regions, buyers have more choices than ever before.
For homeowners thinking about buying, selling, or relocating, understanding how your local market compares with opportunities across the country has become an important part of making an informed real estate decision.
If you’re considering your next move and want to understand how today’s market conditions may impact your options, we’d be happy to help you explore the opportunities available both within the GTA and beyond.
