A new survey by Royal LePage reveals that more than half of Canadians in major metropolitan areas are ready to leave big cities in search of affordable homes, with Lethbridge, Saint John, and Thunder Bay emerging as top destinations.
Survey Highlights Migration Intent
Conducted by Burson, the survey polled 900 Canadians aged 18 and older. It found that 55% of residents in the Greater Toronto Area (GTA), 48% in Greater Montreal, and 46% in Greater Vancouver would seriously consider moving to a smaller, more affordable city if they could find work or work remotely.
Affordability was measured by the percentage of income needed to cover monthly mortgage payments. Fifty-five percent of respondents cited lower home prices as a key motivator, while 42% sought a more relaxed pace of life and 41% wanted to live closer to nature.
Top Affordable Destinations
Lethbridge, Alberta, ranked as the most attractive destination, with an aggregate home price of $338,700 and a monthly mortgage payment of $1,520.85. Saint John, New Brunswick, came second at $265,900 and $1,193.96 per month. Thunder Bay, Ontario, ranked third, with an aggregate home price of $339,900 and a monthly mortgage payment of $1,526.24.
Red Deer, Alberta, and Regina, Saskatchewan, rounded out the top five, with aggregate home prices of $447,200 and $397,900, and monthly mortgage payments of $2,008.04 and $1,786.67, respectively. Larger cities like Winnipeg, Edmonton, and Saskatoon also made the top 15.
Young Canadians Lead the Trend
Younger Canadians are more inclined to consider moving. The study found that 77% of Gen Z respondents and 56% of Millennials said they would be open to buying a home outside their current city.
According to Royal LePage, while house prices have declined in some markets, many Canadians still feel ownership is out of reach, driving interest in smaller communities.
