How Much Are Homes in Canada’s Top Liveable Neighbourhoods?

The Canadian real estate market is one of the world’s top housing sectors. Considering the nation’s population boom over the last few years, there is plenty of demand to live in Canada. As a result, it is putting pressure on the housing market, meaning that the country needs to build more to satisfy current and future levels. But whether you are new to Canada or you are thinking about relocating to another part of the country, you want to know where the most liveable neighbourhoods are and how much it will cost to live there.

Based on findings from the RE/MAX 2024 Liveability Report, let’s find out where these neighbourhoods are and their average prices.

How Much Are Homes in Canada’s Top Liveable Neighbourhoods?

Here is how much homes cost in Canada’s top liveable neighbourhoods:

1. Downtown West End, Calgary

Downtown West End is “a gateway to the city core by bike, car, public transit or by foot.” With the city revitalizing its downtown core by converting empty offices into residences, the area has enjoyed greater foot traffic and renewed retail interest.

But how much would it cost to live in Calgary these days? It is no secret that the major urban centre has experienced a tremendous population boom, resulting in greater demand for limited housing supply.

According to the Calgary Real Estate Board (CREB), the total residential benchmark price in May was $605,300, up 10 per cent from the same time last year. By comparison, the city centre climbed 4.8 per cent year-over-year to $616,000.

Of course, prices were different across the primary housing categories in the Calgary real estate market:

• Detached: $761,800, up 13 per cent from a year ago.
• Semi-Detached: $678,000, up 13 per cent from a year ago.
• Townhome: $462,500, up 19 per cent from a year ago.
• Condominium: $340,500, up 18 per cent from a year ago.

2. Daniel McIntyre, Winnipeg

Daniel McIntyre — named after a public official who developed the city’s school system — is a west downtown neighbourhood that offers the best of all worlds: a family-friendly community, a relaxed atmosphere, single-family homes, exceptional walkability to businesses and shops, frequent public transit, and tremendous access to schools and parks. What is there not to love about this Winnipeg neighbourhood?

Despite Winnipeg’s newfound popularity that the city is witnessing, affordability is still key, even with highly liveable neighbourhoods.

New data from the Winnipeg Regional Real Estate Board (WRREB) suggest that the average price for a detached home was $437,367, up five per cent year-over-year. Within the heart of Winnipeg, the average price advanced another five per cent to $447,884.

Attached and condominiums also recorded modest growth in June, the local real estate association noted. The average price for a condo in downtown Winnipeg rose at an annualized rate of five per cent to $268,356. The average attached home swelled two per cent to $359,566.

3. Oliver, Edmonton

Did you know that Oliver/Wîhkwêntôwin is one of Edmonton’s oldest residential neighbourhoods? That’s right. The inner-city neighbourhood ranked high on the RE/MAX list of most liveable neighbourhoods, thanks to its “friendly atmosphere and unique environment, architecture, and the river valley.” Housing supply is also abundant, meaning affordability is still prevalent for homebuyers.

According to the REALTORS® Association of Edmonton (RAE), total residential average prices increased nearly six per cent year-over-year to $438,973 in June.

Here is a breakdown of prices for various home categories:

• Detached: $539,468, up 7.9 per cent from the previous year.
• Semi-Detached: $422,321, up 10.3 per cent year-over-year.
• Townhome: $290,249, up 12.7 per cent from June 2023.
• Condominium: $211,583, up 8.5 per cent from the same time a year ago.

4. Heritage, Regina

The history of Heritage, Regina dates back to the latest 19th century. Although this neighbourhood had been trending downward since the end of the Second World War, industry experts purport that “it is brimming with potential.” The same could be said about the entire city of Regina, which households understand as they venture to the Prairie city.

The Saskatchewan Realtors Association (SRA) reported in June that the benchmark price for a home in the Regina real estate market was $318,100, up 0.5 per cent from the same time a year ago. The challenge for Regina is market tightness, as inventory levels were close to 50 per cent below long-term trends.

5. Sandy Hill, Ottawa

Sure, you know about the nation’s capital. But are you aware of one of Ottawa’s top neighbourhoods? If not, you should because Sandy Hill maintains a “lively atmosphere, abundant amenities and trendy neighbourhood vibe,” according to the RE/MAX Liveability report. Close to shopping, minutes from Parliament Hill, and public transit at your doorstep, Sandy Hill is perhaps one of the country’s best neighbourhoods.

While home prices are close to the national average, it is a worthwhile investment for homebuyers.

Statistics from the Ottawa Real Estate Board (OREB) show that the benchmark price was $651,300 in May, up a little more than one per cent from May 2023. The average price, by comparison, edged up 0.8 per cent year-over-year to $690,683.

Here is a breakdown of various residential categories:

• Single-Family: +1.1 per cent to $736,000
• Townhome: +2.1 per cent to $517,500
• Apartment: +2.0 per cent to $425,000

6. Quinpool Areas, Halifax

Halifax has become one of the greatest post-crisis tales in Canada. The Atlantic Canada city is quickly transforming into one of the nation’s premier major urban centres, attracting businesses and individuals. If you are one of the many households interested in planting new roots in Halifax, look no further than the west-end neighbourhood of Quinpool Area, which provides a blend of commercial, leisure, and residential opportunities.

While home prices have rocketed in Halifax in recent years, growth has moderated in 2024. According to the Nova Scotia Association of Realtors (NSAR), the average price was $594,758 in June, up 2.8 per cent year-over-year. On a year-to-date basis, the residential average price was $584,818, up nearly four per cent from the same span in 2023.

By comparison, the Nova Scotia real estate market has witnessed home prices climb by more than five per cent to $420,100.

7. Westmount, Saskatoon

Wait a minute. We are back in the Prairies? Yes, but this time, we have set up camp in Saskatoon’s city centre, specifically Westmount. This inner-city neighbourhood is a family-friendly place that is “characterized by single-family homes, many built before 1960 that harken back to its early days as a homesteading community.” And, yes, affordability could be one of Saskatoon’s top attributes.

Data from the local real estate association show that the benchmark price of a home in Saskatoon was $403,500 in June, up more than seven per cent from a year ago. The notable increase has been driven by shrinking inventories, which are 53 per cent below the decade average.

8. Old Town, Toronto

Being North America’s fourth-largest city comes not only with economic potential but also a long list of liveable neighbourhoods. Indeed, Toronto has plenty of these areas scattered across the city, from Leaside in the east to South Etobicoke in the west to midtown. However, Old Town is perhaps the most historic, as it received its name and neighbourhood status in the early 19th century. To this date, it is covered in Victorian architecture, cobblestone streets, and the iconic Flatiron Building and St. James Cathedral.

While it will cost plenty of money to live in the heart of Toronto, families can take comfort in knowing that they reside in one of the most liveable neighbourhoods in the country.

According to the Toronto Regional Real Estate Board (TRREB), the average price for a detached home slipped 1.6 per cent year-over-year to below $1.759 million. Semi-detached homes fell 8.9 per cent year-over-year to under $1.29 million. Townhomes shed 2.7 per cent to $1,008 million, while condominiums dipped 0.9 per cent to $763,148.

Surprisingly, conditions have improved in Toronto, says Jason Mercer, the chief market analyst at TRREB.

“The GTA [Greater Toronto Area] housing market is currently well-supplied. Recent home buyers have benefitted from substantial choice and therefore negotiating power on price,” he said. “Moving forward, as sales pick up alongside lower borrowing costs, elevated inventory levels will help mitigate against a quick run-up in selling prices.”

9. Corktown, Hamilton

Corktown, one of Hamilton’s oldest and most vibrant neighbourhoods, is a “residential hotspot” that offers newer and older homes, a vibrant cultural scene, biking and walking trails, and access to some of the top schools in the city.

So, how much would it cost to live in this Hamilton neighbourhood? According to the Cornerstone Association of Realtors (CAR), the residential average price was little changed from a year ago, coming in at $831,190 in June. However, the unadjusted benchmark price was $786,800, down three per cent from a year ago.

10. Le Sud-Ouest, Montreal

Why bother moving to Europe when you could live in Quebec? Indeed, when you want to enjoy the sights and sounds of Europe but do not want to leave the beauty of Canada, there are attractive neighbourhoods in the province for historic architecture, distinct history, and affordable housing. One of these places is Le Sud-Ouest, Montreal. According to the Quebec Professional Association of Real Estate Brokers, median prices for single-family homes are just below $600,000 in the Montreal real estate market.