Sept. 21: BEST OF THE BLOGOSPHERE

September 21, 2026

Searching for the most affordable provinces to retire to

Maybe you’ve reached the end of work and realize you are living in one of Canada’s most expensive cities, such as Vancouver or Toronto. Alternatively, you may have decided you want to live somewhere where your reduced retirement earnings go as far as where you are living now.

What’s a person to do?

Writing for Investopedia, Daniel Liberto decided to search for “Canadian provinces that are both affordable and desirable for retirees.” Five, he writes, stood out.

New Brunswick, he begins, “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.”

The monthly cost of living is 18 per cent less than the national average, he notes. Average monthly rental rates (for one person) are about $1,281 and houses, on average, cost $333,000.

Next comes Newfoundland and Labrador, Liberto continues.

“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,” he writes.

Here, the cost of living is 13 per cent lower than the Canadian average. It costs about $1,242 for one person to rent a living space each month and houses run, again on average, $346,000, Liberto adds.

Third on the list is our very own Saskatchewan!

Ideal if you are looking for rural living, Liberto notes that “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.”

The home of Rider Pride has a cost of living that is 14 per cent less than the national average, he writes. Rent for one person averages $1,294 and houses, on average, cost $378,000.

Rounding out the top five are Manitoba and Prince Edward Island, Liberto notes.

Manitoba, he writes, “has a bit of everything. There’s the sea and plenty of lakes and parks for lovers of the outdoors, while in cities like Winnipeg, you’ll find a great art scene, many festivals, multicultural cuisine, and all the necessary amenities at affordable prices.”

Living costs are 11 per cent lower than the national average. It costs, on average, $1,377 for one person’s monthly rent and houses average just over $400,000.

Prince Edward Island, he concludes, “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 theatre scene as well as various music festivals.” The weather is “temperate” in winter and “pleasant” in summer, he adds.

Your average one-person rental rate in PEI is $1,252 and you can own a home – on average – for $278,000.

One important factor, when thinking about retirement living, is whether you have sufficient retirement income. With workplace pension plans being somewhat scarce these days, particularly in the private sector, you may need to save on your own for the golden years.

A great and willing partner is the Saskatchewan Pension Plan. You decide how much to contribute each year – any amount up to your registered retirement savings plan limit. SPP does the rest, investing your contributions in our low-cost, pooled, diversified and professionally managed funds.

You can also transfer in any amount from other RRSPs you may have to consolidate your nest egg.

At retirement, your options include the security of a monthly lifetime annuity payment or the flexibility of the Variable Benefit.

Check out SPP today!

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Investopedia

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