Where you can buy a home for $200,000 or less

June 2, 2022



$79,900 house listed May 27 in Glace Bay, NS. | Realtor.ca

The average home price in Canada in April 2022 was $746,000—down marginally from March but up about 25 per cent from April 2021—reports the Canadian Real Estate Association.
However, according to a survey by Point2 Homes, it is possible to find homes, even detached houses, in Canada for $200,000 or less.
Although not the lowest figure, $200,000 (about 25 per cent of the average national home price) is a suitable reference point to gauge the share of what is now referred to as an “affordable listing,”according to Point2 Homes.
But only about 10 per cent of all homes for sale in Canada are less than $200,000—and very few of them are in major cities, where average home prices are exploding.
What’s more, as urban hubs continue to deal with sky-high demand and similarly rising costs, data shows that housing options for less than $200,000 account for less than 1 per cent of the entire stock for sale in the 50 largest and most expensive cities.
However, Point2 Homes analysts discovered that homebuyers who are willing to expand their house-hunting grounds to the largest cities in the Prairies, Atlantic Canada or Québec can have their pick of affordable listings.
Canada’s 50 largest and most expensive cities—which, incidentally, are all in Ontario and British Columbia—predominantly have zero listings for less than $200,000, the survey found.
Kawartha Lakes, Ontario, is the only larger city where more than 1 per cent of all homes for sale are less than $200,000.
Among the largest cities at the regional level, Cape Breton, Nova Scotia boasts the highest share of homes for sale under $200,000: 44 per cent.
Populous cities across the Prairies have the most homes for sale under $200,000 particularly Edmonton (1,300) and Regina (400) according to Point2 Homes.