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Key Takeaways
- Canada ticks a lot of boxes for retirees, including affordable quality health care, low cost-of-living options, and natural beauty.
- The less expensive places are generally more isolated, though there are some exceptions.
- The biggest drawbacks to retiring in Canada are the potential difficulty obtaining a visa and the cold winters.
If you’re looking for a less costly place to retire and aren’t prioritizing year-round warm weather, consider Canada. The Great White North is close, safe, friendly, mainly English-speaking, and culturally similar to the U.S. It also offers stunning natural beauty, high quality health care, and affordable living costs outside of major cities like Montreal and Toronto.
We set out to find Canadian provinces that are both affordable and desirable for retirees. Out of the 10 Canadian provinces, here are the five that stood out.
New Brunswick
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On the Atlantic coast just above Maine, New Brunswick is one of the most affordable places in Canada to live, while offering abundant natural beauty, low traffic, walkable cities, great health care, interesting museums, lively festivals, and strong community programs. However, there are higher marginal tax rates than in the U.S.
- Average monthly cost of living: $1,629, which is 18% less than the Canadian average and 35% less than the U.S. average, for one person, housing included.
- Average monthly rent for one person: $921
- Average home price: $240,103
- Top towns and cities: Saint John, Fredericton, Moncton
Fast Fact
Dollar estimates came from the Canadian Real Estate Association and Zumper and were converted to USD based on the exchange rates in February 2026.
Newfoundland and Labrador
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Further north, hugging the east coast of Canada, is Newfoundland and Labrador. The province is one of Canada’s least populous and least expensive areas.
The province is known for its breathtaking coastal landscapes, a vibrant culture derived from descendants of the Scottish and Irish, friendly communities, a slower pace of life, bearable summers, and, perhaps less favorably, cold winters and snowfalls that can bury whole cars in a day. But then, most homes have built-in fireplaces to get a cozy fire going, and in the summer, you can take a nonstop jaunt to Europe that’s about 4.5 hours long, far shorter than elsewhere in North America.
- Average monthly cost of living: $1,738, 13.2% lower than the Canadian average and 30.1% lower than the U.S.
- Average monthly rent for one person: $893
- Average home price: $249,055
- Top towns and cities: St. John’s, Corner Brook, and Stephenville
Important
Canada doesn’t offer a specific retirement visa. Americans looking to retire there must qualify through other immigration pathways, such as family sponsorship, work programs, or by making a significant investment in the country. Retirees are also required to file U.S. taxes, though a tax treaty between Canada and the U.S. typically prevents double taxation.
Saskatchewan
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If you prefer living inland, Saskatchewan is worth checking out. Named after a river, this province receives the most sunshine in the country and is home to pleasant midsize cities with good health care and cultural activities, as well as lakes, forests, and national parks. Generally, the farther north you go, the colder and more sparsely populated and rural it becomes.
- Average monthly cost of living: $1,718, about 14% less than Canada overall and 32% less than the U.S.
- Average monthly rent for one person: $930
- Average home price: $272,171
- Top towns and cities: Saskatoon, Regina, and Prince Albert
Warning
Medicare doesn’t cover routine care in Canada, so you’ll likely need private insurance, at least initially. Generally, once you become a permanent resident, you qualify for free, tax-funded health care in Canada. However, there is a waiting period, and some rural parts of the country are far from specialists and hospitals.
Manitoba
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Bordered by Ontario to the east and Saskatchewan to the west, Manitoba has a bit of everything. There’s the sea and plenty of lakes and parks for outdoor lovers, while in cities like Winnipeg, you’ll find a great art scene, many festivals, multicultural cuisine, and all the necessary amenities at affordable prices.
Another bonus is extremely low hydroelectricity costs, thanks to the presence of a major North American power company, Manitoba Hydro. Downsides, meanwhile, include harsh winters and higher-than-average property taxes, particularly in Winnipeg.
- Average monthly cost of living: $1,785, about 11% below the country’s overall cost of living and 29% below the U.S.
- Average monthly rent for one person: $990
- Average home price: $289,494
- Top towns and cities: Winnipeg, Brandon, and Steinbach
Prince Edward Island
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Prince Edward Island (PEI), Canada’s smallest province, is a large island known for its red sand beaches, lighthouses, fertile farmland, seafood, and strong sense of community. It’s beautiful, laid back, and very affordable. It also offers a lively arts and theater scene as well as various music festivals.
Temperate winters and pleasant summers are another advantage, while drawbacks can include more expensive groceries and gas, which are typical disadvantages for living on an island. Tax rates are also slightly higher here.
- Average monthly cost of living: $1,604, 20% less than Canada overall and 36% less than the U.S.
- Average monthly rent for one person: $900
- Average home price: $200,523
- Top towns and cities: Summerside, Souris, and Kensington
