In 2023, Ontario dominated Canada’s housing searches. Last year, Alberta cities like Edmonton and Calgary captured attention, with their more affordable housing and lower living costs, reports Zoocasa.

This trend shows in Canada’s top five searched cities last year: Toronto, Edmonton, Calgary, Mississauga and Vancouver.

 

 

Toronto remains the leader, with one-bedroom rents averaging $2,374 and home prices at $1,061,700. Vancouver follows, with Canada’s highest rents at $2,534 and even higher home prices averaging $1,172,100. Mississauga, a city offering more affordable rents at $2,279, remains a key option for those seeking proximity to Toronto’s bustling urban core.  

 

Ontario’s housing landscape

 

Ontario continues to dominate real estate searches, driven by its population density and economic opportunities. Cities like Mississauga, Hamilton, Ottawa and Oshawa follow Toronto’s lead:

Hamilton. An hour west of Toronto, it attracts first-time buyers with relatively affordable home prices and rents.  

Oshawa. Known for its budget-friendly condo townhouses, Oshawa appeals to price-conscious buyers who want easy access to Toronto.  

Ottawa. Canada’s capital offers a stable job market, quality of life and affordable housing compared to Toronto. Its proximity to Quebec’s scenic lakes also makes it a gateway to budget-friendly cottage properties.  

 

Alberta: A practical, more affordable alternative

 

As living costs soar, Alberta’s cities provide a practical alternative for buyers and renters.  

Calgary. With one-bedroom rents averaging $1,634 and homes priced at $575,600, Calgary blends urban amenities with outdoor adventures. Its proximity to the Rockies and vibrant cultural scene make it a top choice for families and young professionals.  

Edmonton. A standout for affordability, Edmonton offers one-bedroom rents at $1,355 on average and home prices of $395,400, making it one of Canada’s most cost-effective urban centres. Its robust economy and lower cost of living attract investors and first-time buyers alike.  

 

Who’s driving the market?

 

Two key demographics are fueling the housing market. 25-34-year-old young professionals and first-time buyers dominate searches, looking for affordability and urban convenience.

As well, 45-64-year-old buyers seek to downsize or assist their children with housing costs.  

 

Review the full report here.