How does Fraser Valley compare to Canada’s most affordable cities? (Hint: you don’t want to know)
Abbotsford's affordability factor is roughly three times Lethbridge, Saint John and Thunder Bay, Canada's least expensive
June 25, 2026
While everything in life is getting expensive, housing in B.C. has been expensive for a long time so for those who want to escape the Lower Mainland, they can get pretty nicely set up in the three most affordable cities in Canada.
For the price of the average home in Abbotsford, not much more than a B.C. box on an average lot on a suburban street, here's what you could buy in the three most affordable cities in Canada as of Thursday, June 25: a sprawling 3,000-square-foot house with game room and RV storage in Lethbridge, Alberta; a six-bedroom house on a half acre with no neighbours behind you in Thunder Bay, Ontario; or how about a five-bedroom house on a half acre on the Atlantic Ocean in Saint John, New Brunswick.
That’s what $900,000 or so buys in those four cities in those four disparate provinces.
That’s straight dollar for dollar, but to compare apples to apples, the aggregate* priced homes in those latter three cities come in at about one third of the affordability rate as Abbotsford. That’s according to the 2026 list of the most affordable cities in Canada as part of a Royal LePage report that also includes a survey of Canadians living in the three largest metropolitan centres of Toronto, Vancouver, and Montreal asking if they would consider moving to one of these top 15 affordable cities.
Half of respondents claim they would.
First up, two definitions:
“Aggregate” prices are calculated using a weighted average of the median values of all housing type transactions in a particular region.
“Affordability factor” is what percentage of annual household income is spent on a mortgage.
On that latter statistic, Lethbridge’s affordability factor of 18.9 per cent is a staggering less than one third that of Abbotsford’s at 57 per cent.
The southern Alberta city finished number one on the affordability list but only because it factors in local prices with provincial income, which does skew higher in bigger cities and up in the oil patch.
Lethbridge’s aggregate first quarter of 2026 home price was $338,700 making for a mortgage payment using Royal LePage’s calculation of $1,521. With an Alberta provincial median household income of $96,600, that’s the 18.9 per cent affordability factor.
Saint John on the other hand, has a much lower aggregate price of $265,900 but also household income of $73,000 so the numbers are similar, the Maritime city coming in at number two at 19.6 per cent.
Number three is Thunder Bay with an aggregate price of $339,900, Ontario average income of $90,200 for an affordability factor of 20.3 per cent.
Five provincial capitals made it on the top 15 most affordable cities, in order starting at most affordable: Regina (5), St. John’s (6), Edmonton (7), Fredericton (9), Winnipeg (10), and Charlottetown (15).
Not one city in British Columbia made the top 15, but to make a local comparison, for Abbotsford the numbers are vastly different.
The aggregate price of a home sold in Abbotsford in the first quarter of 2026 was $906,400, which makes for a monthly mortgage payment of $4,070.
B.C.’s provincial medial total household income is $85,700. All that calculates to an affordability factor in the Fraser Valley city of 57 per cent.
But would you really move there?
One obvious subjective element not discussed is why the most affordable cities in Canada are the most affordable cities. The answer lies in the first-year economics principle of demand and supply. If you buy a house in Thunder Bay or Lethbridge, you know live in Thunder Bay or Lethbridge, and no one wants that.
However, the other part of the Royal LePage survey asked residents of the metropolitan areas of Toronto, Montreal, and Vancouver if they would consider relocating to one of the 15 most affordable cities.
Two caveats about that are that they were asked where they would move if they were able to find a job locally or work remotely, but also, people might say they’d be willing to move from Vancouver to Edmonton for affordability reasons but that’s far from the truth about whether they actually would.
- 55 per cent of respondents in the Toronto Area, 48 per cent in the Montreal Area and 46 per cent in Vancouver said they would consider relocating to one of the 15 most affordable cities.
- Sherbrooke was the most popular destination among respondents in Montreal, while Edmonton was the top-ranking choice among residents in Toronto and Vancouver.
- Gen Z and Millennials said they were more likely to relocate in order to access more affordable housing compared to older generations.
“Canadians are remarkably mobile in theory, but less so in practice,” said Royal LePage president and CEO Phil Soper in a news release.
“Many people dream about relocating to a more affordable city or province, yet the number that actually relocate is smaller. Career opportunities, family obligations and established social networks are powerful forces. Still, as housing affordability challenges persist in the country’s largest urban centres, more buyers are widening their search and seriously evaluating markets they may never have considered just a few years ago.”
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Here’s what about $900,000 can buy in Lethbridge, Saint John, Thunder Bay, and Abbotsford
Lethbridge, Alberta • $874,900 • 2857 6 Avenue South
Six bedrooms, four bathrooms
3,091 sq/ft house on 16,345 sq/ft property
Annual property taxes: $8,496
Notable feature: The lower level has been recently developed with 3 huge bedrooms , a wet bar and game room , an ideal space for the kids. Other notable features include a double drive-through heated garage leading to 90' of concrete RV parking
Saint John, New Brunswick • $949,900 • 605 Sea Street
Five bedrooms, three bathrooms
2,446 sq/ft on 21,780 sq/ft property
Annual property taxes: $7,546.22
Notable feature: On the ocean! Watch cruise ships, the Digby ferry, and passing tankers glide across the horizon in the Bay of Fundy as your ever-changing ocean backdrop delivers a new spectacle each day.
Thunder Bay, Ontario • $899,900 • 115 Chercover Dr.
Six bedroom, 2.5 bathroom
3,136 sq/ft on 22650 sq/ft property
Annual property taxes: $9,356
Notable feature: Tiered deck off dining area. Beautifully landscaped property with nice tree area separating the property from the back where there are no neighbours.
Abbotsford, B.C. • $899,990 • 2914 Glenshiel Drive
Three bedrooms, three bathrooms
1,927 sq/ft on 6,000 sq/ft property
Annual property taxes: $4,522.98
Notable feature: Hot tub and outdoor built-in BBQ area
Of note, because of the way property tax bills are calculated in municipalities, the homes listed here in the three most affordable communities are at the top end of the property value range whereas the house in Abbotsford is average, which is why the property tax dollar amounts in the affordable communities are so much higher than Abbotsford.
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Paul J. Henderson
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