Top 10 Most Expensive Places to Live in Canada

Gourvi gupta
Gourvi gupta Lifestyle
23 Min Read
Most Expensive Places to Live in Canada

In Canada, beauty is present in multiple kinds, ranging from pristine nature to urban grandeur. From coast – to – coast, east to west, there are some most expensive places to live in Canada. It’s no wonder that people flock here to live just for the scenery as well, which includes warm coastlines, great weather, grasslands, high mountains, and unspoiled nature.

Canada, the world’s second-largest nation, takes up nearly two-fifths of the North American continent. Canada is frequently recognized as one of the world’s happiest nations. As per a new CEOWORLD magazine study, it is currently ranked fifth.

Even for an evening downtown, major Canadian cities have been ranked among the most costly nations in the world, which is justified as the Great White North is a place of unending beauty.

The Beauty of Great White North

Since Canada is consistently regarded as one of the top places in the world to reside in, many folks wish to move to Canada.  Gorgeous beaches, coastlines, towering high mountains, and cascading waterfalls are all part of Canada’s appeal.

There are several reasons why Canadians are so fascinated with expensive areas to live, real estate, house prices, and cost of living. Everybody has to make a property purchase or expenditure, but many Canadians prefer to buy instead of average rent. Property investment is also a major engine that moves the Canadian economy forward.

The article has compiled a list expensive locations to live, where even renting a place may be ridiculously pricey. The wonderful thing about these areas is that they are extremely safe, include everything you could probably need in your everyday life within a mile, and even the streets are pleasant to walk through. Some places are surrounded by towering skyscrapers, while others are peaceful and quieter.

Even if you don’t have a residence in any of the expensive places to live, it is worth going to see the buildings and enjoy their magnificent beauty and well-preserved estates.

1. Shaughnessy in Vancouver

Shaughnessy is first on the list of the most expensive areas to live and a beautiful residential community of Vancouver, British Columbia in Canada, comprising nearly 447 hectares in a quiet central location.

It is situated towards the north by 16th Avenue, the east by Oak Street, the south by 41st Avenue, and the west by East Boulevard. The First Shaughnessy area of this neighborhood, which is historic, is regarded as more elite.

The Central Pacific Railway, Canada’s premier property developer, established this upscale suburb in 1907. It was envisioned as a rival to the elite West End, which had long served as the primary residence of the city’s upper crust.

Shaughnessy is recognized for its large mansions and attractive tree-lined sidewalks. In contrast to the woodlands along the road’s edges, Osler Street and Angus Drive in First Shaughnessy have a vine-covered pathway.

How Much does it Cost to Live in Shaughnessy?

The average annual income of the elite living in the area is $105,000 ($777,184 in Shaughnessy Heights), and the average home price is $2.89 million, the greatest in Vancouver. Many ancient homes, particularly in First Shaughnessy, are found there. 51.5 percent of the properties in the neighborhood were established before or during WWII, compared to 20.8 percent for the city as a whole.

From its vibrant metropolitan region to beautiful woods and white sand beaches, Shaughnessy is lauded as a wonderful destination to buy a home in Canada.  It is also located near many prominent sites such as Granville Island, English Bay, local breweries, and the Capilano Suspension Bridge and is designed for the international upper crust as well.

melbourne urban park skyline view
Source: Freepik

2. Charlottetown in Prince Edward Island

Charlottetown, Canada’s Prince Edward Island capital city, is known as the birthplace of Confederation because of the momentous Charlottetown Conference in 1864. It is located on the state’s southern shore.

On the roster of best places to live in Canada, Charlottetown is tied for the lead. Charlottetown shared the top position with Halifax for 233rd place on the list of 415 areas, as per Maclean’s magazine.

The Confederation Centre of Art, which was established in 1964 as a Canadian national tribute to the Founders of Confederation, is located in Charlottetown. The city’s annual summer fest is held at the Centre, which comprises an art exhibition, theatre, and historic literature museum.

Charlottetown is amongst the most costly places to live, it is a thriving community with a population of around 40,500 opulent people.

What is the Average Price of Living Here?

The Charlottetown real estate market is now dominated by ongoing demand and rising price pressure, which is likely to continue in the following years. Moreover, the average house price in Charlottetown increased to $319,000 in 2020, rising from $294,000 in 2019.

It is a little town with such a big-city thrilling vibe but none of the big-city annoyances. Housing expenses are often lower here than that of a big city, and there is less traffic because of the lower population. It is an excellent location to raise a family because the pace of life is a little calmer here, and the residents are pleasant.

vancouver coal harbour autumn scenery
Source: Freepik

3. Hamilton in Ontario

Hamilton is a beautiful Canadian coastal city on Lake Ontario’s western shore. The city is divided by the Niagara Escarpment, a massive, forested crest called ‘the mountain’ by local people and peppered with wildlife reserves, cascades, and waterfalls.

The Bruce Trail, a lengthy trial, goes along the slope. It is the finest of both worlds to live in Hamilton. Many of these neighborhoods have sprouted international restaurants, stores, and attractions. There are snuggled amid big residential properties and contemporary eateries on streets like James Street, North, and Locke Street, creating a bustling community feels.

One of the Most Beautiful Canadian Cities

The coastal city of Hamilton is situated on the western end of Lake Ontario and is a quick drive from Toronto. It has historically been one of Canada’s foremost significant industrial cities and one of the most high-priced places to live.

When living in this buzzing city, you won’t be in shortage of things to see, although you can quickly run out of your savings if you are not careful in Hamilton, Ontario. There are well-maintained conservation zones, various cultural attractions such as art galleries and museums, and thriving food and drinks culture, one will never want to leave.

The majority of the population think Hamilton to be an excellent city to reside in in Ontario. It features a diversified population, a thriving culinary scene, modern housing, and world-class medical care.

4. Barrie in Ontario

Barrie is a mesmerizing city in the province of Ontario, Canada. It is situated on the banks of Kempenfelt Bay, Lake Simcoe’s west shore. It is neither a coincidence nor a craze, but a proven fact.

The upper-class people are migrating from the city to Barrie. They are waving goodbye to the cities ever-increasing annoyance and hustle-bustle and traveling north to an area that exactly suits their needs. Barrie is a bustling city with all the best aspects of island country right on your doorstep.

Fashion boutiques, indigenous art, live entertainment, indie musicals, and nightclubs are all growing in popularity in downtown Barrie. A neighborhood like Urban North is truly a once-in-a-lifetime investment opportunity you must not miss.

urban green park cityscape view
Source: Freepik

Get the Buzzing Vibe of Living in Barrie, Canada

As one of the most lavish places to live, Barrie is elegant but welcoming, classic but vibrant. It is a thriving location, where excitement and luxury collide, creating a fantastic living environment. You also have access to high-quality cottages if you want to experience country living. The renowned Lake Simcoe is Barrie’s most prominent attractive feature.

A renovated 85-square-meter condo in a typical area costs roughly $1,376, while amenities for two people cost around $214 per month in Barrie. A modest lunch in the downtown area would cost you at least roughly $18, while monthly transportation will set you back around $87. A large mansion, on the other hand, will cost you at least $856,576 on average.

5. West Vancouver in British Columbia

In the Canadian province of British Columbia, West Vancouver is an affluent municipality amongst major Canadian cities. It is situated on the northern side of Burrard Inlet’s entryway, across downtown Vancouver. Cypress Provincial Parkland, which features breathtaking views of the Metro Vancouver and Howe Sound area, is one of West Vancouver’s most well-known parks.

Lighthouse Park and Whytecliff Park are nestled near the village of Horseshoe Bay, just at Trans-Canada Highway’s western endpoint. Here, celebrities such as Ryan Reynolds and George Clooney are frequently spotted, but obviously, it is one of the affordable cities for them.

It is no wonder that West Vancouver attracts celebrities with its beautiful coastlines and breathtaking views of mountains.

Beautiful Escapades in Alluring West Vancouver

West Vancouver is without a doubt, a hotspot for the wealthiest Metro Area, having won the top rank for greatest cities in BC, according to statistics Canada. The area’s average annual salary is more than $193,000, but you would have to venture further inland – away from the sparkling waves that kiss the coasts of West Vancouver to find a more inexpensive suburb.

Despite being excessively costly, the average property in West Vancouver costs roughly $2 million. The towns’ riches, coupled with the wonderful nature and high safety standards, make West Vancouver a perfect destination.

West Vancouver is one of the most costly places to live, situated on the North Shore.  The area is also one of the most wonderful spots in Canada. There is a ski hill as well as magnificent parks, coastlines, and other attractions.

Because it is nestled in the city’s downtown core, the Western End of Vancouver is one of the nicest neighborhoods to live in. It is well-known for being one of the most stunning places to live in.

Toronto Cityscape Waterfront Park View
Source: Freepik

6. Chester in Nova Scotia

Chester is a town in Mahone Bay, Nova Scotia in Canada, on the Chester Peninsular. The Chester Yacht Club has become a cruising attraction due to the coastal waterways of Mahone Bay and its several beautiful islands, which are well known for sailing and yachting.

Chester is recognized for its leisure pursuits, notably kayaking, a big 18-hole golf course, and is home to the yearly Chester Race Week, North America’s largest keel racing event. Chester is a little community, 68 kilometers towards the west of Halifax with a community of 1,200 inhabitants.

Chester is one of the most attractive settlements in the world. Chester, Nova Scotia’s coastal community, is famed for its yachting, arts, sailing, and culture, as well as breathtaking views that draw the rich and famous here.

Why Is It the Most Expensive Place in Nova Scotia?

Chester, a posh city in Nova Scotia, an expensive city in Canada, is often missed by Canadians but is well worth considering for moving. The charming city of Chester’s traditional appeal and illustrious history has helped to place it on the list of the most lavish places to live.

Chester is a wonderful area to live in, with a wide selection of unique and traditional stores, facilities, bars, restaurants, and sports all on your doorstep. Wonderful middle and high schools, as well as leisure centers, make this an excellent spot to raise a family. It has a plethora of attractions, such as local stores, markets, hospitals, a golf course, and much more.

7. Halifax in Nova Scotia

Halifax, originally the Halifax Regional Municipality, is the provincial capital and biggest city in Nova Scotia, Canada. Halifax is a significant economic hub in Atlantic Canada, with a greater percentage of state and corporate businesses. Hence, the area attracts the upper crust of Canada and reserves a spot for itself in the list of the most high-priced places to live.

Halifax’s urban core is a hotspot of a large number of national landmark monuments and preserves notable historic buildings and areas. Downtown business skyscrapers are surrounded by the fort of Citadel Hill with its famed Halifax Town Clock.

Halifax is most recognized for its cultural charm, sense of community, amazing seafood, and stunning natural scenery, as well as having the world’s second-largest natural coastline. Several of the city’s nautical and military traditions have been preserved, while a rising ethnic population has been welcomed.

fall scenery ottawa river valley
Source: Freepik

What to Expect from Renting in Halifax?

Halifax is an extremely safe city to live in. Halifax has a substantially lower crime rate than most of the other places of Canada, and it is continuing to fall. Halifax was named the greatest place to live in, raise a family, and work remotely in Canada by Maclean’s Publication in 2021.

Therefore, relocating to Halifax is a great decision if you want a safe area to raise your family, even if it comes at a high cost. Halifax is renowned for its pristine downtown streets and welcoming residents, making it a popular tourist attraction as well as a desirable location to live.

In January 2022, the average price of residences sold was $392,828, making a rise of 23.2% from January 2021.

8. Upper Mount Royal, Calgary – Alberta

As elite as it sounds. It is because Mount Royal is an expensive place to live and a district in Calgary, Alberta. The district has been divided into Upper and Lower Mount Royal by an embankment that spans east to west alongside Royal and Cameron Avenues. Upper Mount Royal is a lovely, traditional area in SouthWest Calgary’s city center zone.

Upper Mount Royal, alongside Roxboro and elbow park, is one of Calgary’s costliest districts, with a few of the town’s most opulent houses dating back over 100 years. The region was formerly known as ‘American hill,’ and it was an oasis of the town’s American-born corporate elite.

The Average Home Price in Alberta

Upper Mount Royal is a posh Calgary attraction. These residences are among the city’s finest and most spectacular residences. When you explore this opulent area, you will be surrounded by pure elegance and class.

There is no place that you will need to venture beyond this area that can’t be discovered here, wedged between 4 Street SW and 14 Street SW, along 17 Ave SW to the north. The Coup and Anejo, two of the city’s best restaurants, are both within a walking distance.

kiev river view aerial shot
Source: Freepik

9. New Edinburgh in Ottawa

New Edinburgh is located towards the north of Vanier and nearby parliament hill. It is home to various consulates, embassies, and famous leaders, along with some of Ottawa’s richest and prestigious residents, including the Prime Minister.

Rideau Hall, a 19th-century palace set in lush gardens with a central public gallery of Canadian artworks, is located in verdant, upmarket New Edinburgh. Rideau Falls Parkland, near the junction of the Rideau and Ottawa rivers, is another popular attraction in the region.

The Lumière Fest, which features lanterns and luminous displays each August, is held in Stanley Park, which offers riverside walkways.

It gives Vibrant Feels like British Columbia

New Edinburgh may not be the largest city in Canada, but it is without a doubt the safest and one of the most luxurious places to live. It is a modest, pleasant city with a lot of spectacular monuments, historic landmarks, and pleasant people, making it ideal for a year or a lifetime abroad.

Setting costly housing market issues aside, Edinburgh’s desirability as a place to live is among the key reasons for its house price rise. Aside from having a solid economy and a good income, New Edinburgh in Ottawa is also known for being a walkway and transit-friendly area.

It was also named first as the finest place to live in Canada for the affluent. Edinburgh is not only a fantastic destination to visit, but it is also a fantastic place to live.

10. Winnipeg in Manitoba

Winnipeg is the capital city of the territory of Manitoba in Canada. The Forks, a historic landmark at the juncture of the Assiniboine and Red rivers, has ancient buildings converted to restaurants and stores, as well as plenty of greenery for concerts, festivals, and exhibitions.

The Exchange District, located nearby, is notable for its commendable preserved early twentieth-century architecture and a plethora of art galleries. If you are considering relocating to Winnipeg, the city’s size ensures that you will be able to find work in a variety of fields. Winnipeg has a robust and vibrant culture, as well as a bustling real estate market.

toronto street view
Source: Freepik

A Place Desired by Many Canadians

Winnipeg is well-known around the world as the home of the Winnipeg Jets, the capital’s NHL club, but it is also well-known in the United States for its vibrant arts and culture scene. Residents, dubbed “Peggers,” enjoy a vibrant cultural scene that includes everything from play and opera to concerts and ballet.

This city is a wonderful area to start looking for a home if you are a first-time homebuyer. According to recent reports, when contrasted to other Canadian cities, your investment will go much farther in Winnipeg, and first-time homeowners account for at least 35% of the market as there an extensive remote work flexibility.

Closing Thoughts

Many people desire expensive places to live in Canada from afar, living a lavish life in an upscale neighborhood, spending afternoons surrounded by lush greenery, soaking up in the sunshine, and spending breezy evenings whilst looking at breathtaking views. But, such magnificent experiences come at a high cost of living.

As a genral rule, these most expensive cities are not only an attractive destination. It often have higher average monthly rent, domestic inflationary pressures for single family home, but also force a temporary or remote workers to develop effective compensation strategies to keep up with the living here.

In this article, Scoop Canada has listed the most expensive places to live in Canada, ranging all around major canadian city, northwest territories, Ontario Toronto, Ontario Ottawa, North America, to all types of housing, cost of living in large mansions, one-bedroom apartment, the average costs in public transport, the average salary of inhabitants, home prices, and monthly rent.

Hopefully, it helped you out a little!

Last Updated on by Sanjana

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  • This article offers a compelling glimpse into the economic landscape of Canada by highlighting the 10 most expensive places to live. It provides valuable insights into the factors contributing to the high cost of living in these areas, such as housing prices. The inclusion of specific details about each location, along with key economic indicators, adds depth to the reader’s understanding.

  • I wasn’t surprised to see major cities like Vancouver and Toronto topping the list of most expensive places to live in Canada. Housing prices in these desirable areas continue to rise much faster than incomes. Even though the cost of living is quite high in these cities, many people, including professionals and families, are willing to pay the premium to live there because of the job opportunities, amenities, and lifestyle they offer.

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