A Royal LePage survey finds more GTA, Montreal and Vancouver residents open to relocation
Despite meaningful gains in housing affordability across most of Canada, half of residents in the country's three most expensive urban regions say they would consider relocating.
A survey conducted by Burson for Royal LePage found that 51% of respondents in the greater regions of Toronto, Montreal and Vancouver would consider purchasing a primary residence in one of Canada's 15 most affordable cities, if they could secure local employment or work remotely.
Willingness to relocate was highest in the Greater Toronto Area (GTA) at 55%, compared with 48% in the Greater Montreal Area and 46% in Greater Vancouver.
"Home prices in Canada's largest cities have moderated over the past couple of years, but for many buyers, the math still doesn't work," said Phil Soper, president and chief executive officer of Royal LePage.
"As barriers to entry remain high in the country's most expensive urban centres, relocating to a more affordable city is becoming less of a last resort and more of a deliberate strategy."
Penelope Graham, mortgage expert at Ratehub .ca, highlighted that higher fixed rates and rising home prices pushed mortgage qualification requirements higher in all 13 cities tracked in the latest affordability analysis.https://t.co/WVRId4eihQ
— Canadian Mortgage Professional Magazine (@CMPmagazine) June 19, 2026
Prairie cities top Canada's affordability rankings
Lethbridge, Alberta leads Royal LePage's 2026 affordability ranking, requiring just 18.9% of a household's monthly income to service a mortgage, based on an aggregate home price of $338,700.
Saint John, New Brunswick follows at 19.6%, with Thunder Bay, Ontario — the 2024 leader — falling to third at 20.3%. Red Deer, Alberta and Regina, Saskatchewan complete the top five, both at or below 25%.
Canadian Mortgage Professional
Canada's 15 most affordable cities, 2026
| # | City | Avg. home price | % of income needed |
|---|---|---|---|
| 1 | Lethbridge AB | $338,700 | |
| 2 | Saint John NB | $265,900 | |
| 3 | Thunder Bay ON | $339,900 | |
| 4 | Red Deer AB | $447,200 | |
| 5 | Regina SK | $397,900 | |
| 6 | St. John's NL | $377,900 | |
| 7 | Edmonton AB | $472,300 | |
| 8 | Trois-Rivières QC | $400,100 | |
| 9 | Fredericton NB | $377,200 | |
| 10 | Winnipeg MB | $424,500 | |
| 11 | Windsor-Essex ON | $480,500 | |
| 12 | Saskatoon SK | $458,000 | |
| 13 | Sherbrooke QC | $423,200 | |
| 14 | Moncton NB | $399,300 | |
| 15 | Charlottetown PEI | $428,200 |
Source: Royal LePage, Q1 2026 · Assumes 20% down payment, 3-year fixed rate at 4.64%, 25-year amortization · Income data: Statistics Canada 2024
Of the 62 cities analyzed, 61 recorded an improvement in their affordability factor between 2024 and 2026. Quebec City was the only exception, where the income share required to service a mortgage rose 1.6%, driven by eight consecutive quarters of year-over-year aggregate price increases.
Affordability gains in Canada's housing market are starting to run out of steam, adding urgency to the relocation data for brokers in major centres.
Younger buyers most open to uprooting
Generational splits in the data carry practical implications for mortgage brokers advising first-time buyers.
Some 77% of Gen Z respondents and 56% of Millennials said they would consider buying in one of Canada's 15 most affordable cities, compared with 51% of Gen X and 34% of Baby Boomers.
Renters showed stronger intent than owners, with 52% open to a move.
A lower cost of living was the primary driver, cited by 55% of those open to relocation, followed by a desire for a more relaxed pace of life (42%) and proximity to nature or less densely populated areas (41%). Respondents could select more than one answer.
"Canadians are remarkably mobile in theory, but less so in practice," Soper said.
"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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