If life getting too expensive has got you thinking about picking up and moving somewhere in Canada where your money goes a little further, a new report might help you figure out where to land.
MovingWaldo has released its updated ranking of the cheapest provinces in Canada with the best quality of life for 2026, and the results offer a pretty clear picture of where life is most affordable — and where it still costs a premium to call home.
The ranking weighs average cost of living, home prices, and one-bedroom rental costs, alongside quality of life feedback from real residents covering everything from job opportunities and public safety to healthcare, transit, and recreation.
Here’s how the provinces stacked up.
1. Newfoundland and Labrador
Topping the list for the second year running, Newfoundland and Labrador remains the most affordable province in the country. The monthly cost of living sits at $2,411.87, with one-bedroom apartments averaging $977 and the median home price at $340,600.
Beyond the numbers, the province offers a genuinely compelling lifestyle, with a thriving cultural scene, stunning coastlines, and some of the lowest post-secondary tuition fees in North America.
2. New Brunswick
New Brunswick holds onto second place with the lowest cost of living in the ranking at $2,341.21 per month. One-bedroom rent averages $1,100 and homes go for around $328,400. Utilities like water, gas, and electricity are also notably cheaper than the national average here, which adds up over time.
3. Saskatchewan
Saskatchewan comes in third with a monthly cost of living of $2,531.25, one-bedroom rent averaging $1,295, and homes sitting around $372,200. It’s also Canada’s sunniest province, logging between 2,000 and 2,500 hours of sunshine a year — not a bad bonus if you’re weighing your options.
4. Manitoba
Manitoba lands fourth, with a cost of living of $2,696.70, one-bedroom rent at $1,495, and average home prices around $395,913. Winnipeg gets a bad rap for its winters, but it consistently ranks among the most affordable big cities in Canada for housing, and the province’s hydroelectricity rates are among the lowest on the continent.
5. Prince Edward Island
PEI holds the fifth spot with a monthly cost of living of $2,718.14, one-bedroom rent averaging $1,268, and homes going for around $377,400. The island’s small population keeps housing supply relatively accessible, and if beaches, lobster, and a slower pace of life appeal to you, it’s hard to argue with the value.
6. Quebec
Quebec comes in sixth, a spot higher than its 2025 ranking, but still firmly in the bottom tier of this list. The monthly cost of living is $2,665.56. That sounds reasonable, but one-bedroom rent has climbed to $1,695 and the average home now costs $561,381, making it significantly more expensive than most provinces above it.
The province does offer genuine advantages: diverse housing options, strong public transit, and a cultural richness that’s hard to put a price on.
Montreal realtor Bonnie Meisels, who contributed to the report, put it simply: “Real estate prices are less expensive than in Ontario or British Columbia, and people who visit cities like Montreal often end up falling in love.”
Quebec isn’t unaffordable in absolute terms. It’s just expensive relative to the other provinces on this list.
7. Nova Scotia
Nova Scotia drops to the bottom of the ranking this year, swapping spots with Quebec from 2025. The monthly cost of living here is $3,101.53 (the highest on the list) with one-bedroom rent averaging $2,200 and homes going for $438,800. The province’s growing popularity among Canadians fleeing pricier markets like Toronto and Vancouver has pushed costs up noticeably.
The payoff, for those who stay, is Atlantic coastlines, a friendly community feel, and home prices that still undercut Ontario and B.C. by a significant margin.