New Brunswick continues to make waves as an affordable and attractive place to live, with Saint John securing the #2 spot in Royal LePage’s 2024 Most Affordable Cities Report. Known for its scenic beauty, vibrant community, and budget-friendly real estate market, Saint John stands out as a top choice for Canadians seeking a more affordable and relaxed lifestyle.
Live Big on a Small Budget
According to the report, Saint John homeowners spend just 25.1% of their monthly income on mortgage payments—far below the national average. This calculation is based on a three-year fixed-term loan at 5.71%, amortized over 25 years with a 20% down payment.
Affordability Meets Opportunity in Saint John
The city’s affordability is bolstered by its growing appeal as a destination for both young professionals and retirees. Offering a blend of urban amenities and access to nature, Saint John provides the best of both worlds. Its charming uptown core, scenic Bay of Fundy views, and a variety of cultural and recreational activities make it a desirable place to call home.
Saint John also benefits from the broader trend of Canadians moving to more affordable housing markets. With housing costs soaring in cities like Toronto and Vancouver, many buyers are turning to Atlantic Canada for budget-friendly options. Saint John’s low cost of living and strong sense of community continue to attract out-of-province residents, including families, retirees, and remote workers.
Fredericton Adds to New Brunswick’s Appeal
Fredericton, New Brunswick’s capital, also earned a spot on the list, ranking #11. With 32% of household income needed to cover mortgage payments, Fredericton remains a compelling choice for those seeking affordable real estate without sacrificing urban conveniences. Its emphasis on mixed-use housing developments and rental options has helped keep the market accessible for a wide range of buyers.
“Fredericton offers a small-town feel with all the benefits of city living,” said Darlene Tidd, Manager of Royal LePage Atlantic in Fredericton. “The city has focused on creating higher-density, mixed-use housing, which will ensure affordability for years to come.”
Atlantic Canada’s Affordable Allure
Out of the 15 most affordable cities in Canada, four are in the Atlantic provinces, including St. John’s, Newfoundland (#7) and Charlottetown, Prince Edward Island (#14). The region has seen an influx of buyers seeking affordable housing, proximity to nature, and a slower pace of life.
Saint John, however, leads the pack in Atlantic Canada. Its combination of affordability, natural beauty, and growing opportunities make it a standout choice for Canadians looking to relocate. Whether you’re a first-time buyer, investor, or someone seeking a change in lifestyle, New Brunswick’s affordability and charm continue to offer compelling reasons to make the move.
Why Choose Saint John?
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Affordable Housing: #2 in Canada, with only 25.1% of income required for mortgage payments.
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Proximity to Nature: Enjoy the stunning Bay of Fundy, outdoor trails, and coastal views.
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Cultural Hub: Explore local art, music, and cuisine in Saint John’s historic uptown.
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Community-Oriented Living: Experience the welcoming atmosphere of Atlantic Canada.
With housing affordability top of mind for many Canadians, Saint John and the rest of New Brunswick are well-positioned to remain attractive destinations for years to come.
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