Gatineau makes the list for most affordable cities in Canada

The cost of living continues to be top of mind for Canadians right across the country and a city right across the river from Ottawa is being highlighted as a more affordable place to call home.

The city of Gatineau has made the list for most affordable cities in Canada to live according to a survey by Royal LePage.

"I think we're still a city to discover if you want, because we still are affordable for a house for sure," said Martin Simard, who is a real estate broker with Royal LePage Vallee De L'Outaouais.

Gatineau is number 15 on the list with an aggregate house price of $438,000 in 2024.

"In Ottawa, you're going to have the aggregate value I think is around $750,000, so we already have about a $300,000 difference between other cities," he said.

As the cost of living continues to soar, the survey found half of respondents in Toronto, Montreal and Vancouver would consider buying a property in one of the most affordable cities if they could find a job or work remotely.

Experts say there are considerable pros and cons that potential buyers and renters have to consider before choosing where to call home.

If comparing Ottawa to Gatineau, there's health care, property taxes, language laws, and school boards to consider.

"The property taxes are slightly higher on the Quebec side than they are (on the) Ontario (side)," said Frank Napolitano, who is the owner of Mortgage Brokers Ottawa. "I've read many stories where people that moved to the Quebec side will not get a doctor, but the commute would be a downside if you have to work on the Ottawa side but live on the Quebec side."

If the cost of living is the most important factor, Napolitano says your mortgage payment could be as much as $1,000 cheaper a month -- major savings for those who are counting every dollar.

Royal LePage identified the most affordable cities based on the percentage of income required for a monthly mortgage payment using provincial household data and the city-level aggregate home price data. Thunder Bay topped the list and other cities include Quebec City, Windsor-Essex and Sherbrooke, Quebec.