Canadians to Consider Moving to Affordable Cities
Faced with soaring housing prices, half of Canadians in the country’s largest cities are considering relocating to more affordable areas. A new survey by Royal LePage reveals that 50% of respondents in the greater regions of Toronto, Montreal, and Vancouver would contemplate moving to cheaper cities if they could find a job or work remotely.
The survey, released on Wednesday, highlights a significant trend among renters, with 60% expressing willingness to relocate, compared to 45% of homeowners.
“Housing affordability has become one of the major social issues of our time,” said Phil Soper, president and CEO of Royal LePage, in an interview with CTV News. He noted that the pandemic has increased mobility and the adoption of virtual work, leading many to consider mid-sized cities with lower living costs.
However, Soper cautioned that considering a move does not necessarily mean people will follow through. “I would caution people though that people saying ‘I’d consider moving’ is not the same as people moving,” he said.
Key Survey Findings
- Greater Toronto Area: 51% considering relocation
- Greater Montreal Area: 54% considering relocation
- Greater Vancouver Area: 45% considering relocation
For Montreal residents, Quebec City emerged as a top choice for relocation, while Edmonton was the preferred destination for those in Toronto and Vancouver. On the East Coast, Halifax has become more expensive, but Saint John, New Brunswick remains a popular choice for many from central Canada since the pandemic’s peak in 2020.
Most Affordable Cities in Canada
The survey also identified Canada’s most affordable cities based on the percentage of household income needed for a monthly mortgage:
- Thunder Bay, Ont.: 22.2%
- Saint John, N.B.: 25.1%
- Red Deer, Alta.: 25.7%
- Trois-Rivières, Que.: 28.5%
- Edmonton: 28.9%
- Regina: 29.1%
- St. John’s, N.L.: 30.1%
- Quebec City: 30.8%
- Sherbrooke, Que.: 30.8%
- Winnipeg: 31.8%
Urban Planning Challenges
Soper highlighted that while migration to smaller communities could benefit those areas, it poses challenges for urban planners. “We have housing shortage issues not just in Toronto and Vancouver but in these smaller cities,” he explained. Although these cities start with better affordability, they also face acute housing shortages.
Survey Methodology
The report surveyed 900 Canadian residents aged 18 and older living in the greater Toronto, Montreal, and Vancouver areas between May 13 and May 16. The survey used an online panel, and as a non-probability sample, no margin of error can be associated with the results.
This trend of considering relocation reflects broader concerns about housing affordability and the evolving dynamics of work and living spaces in Canada.
Asher Mo