Are you looking for the cities in BC with the cheapest homes? Many Canadians want to move to BC for the beautiful nature and nice weather, but they have to grapple with the affordability of homes in major urban centers where the rich people hang out, such as Vancouver and Victoria.
But the appeal of British Columbia’s lesser-known cities might change this narrative. The cities on this list offer house hunters more bang for their buck without compromising on natural beauty or amenities.
Prince Rupert BC
Located on the northwest coast, this city has long played a pivotal role in Canada’s trade history. Prince Rupert’s harbour, once bustling with traders, now offers sweeping ocean views that have become increasingly accessible to average Canadians looking for reasonably priced homes.
The city’s rich culture and the nearby natural attractions, like the Khutzeymateen Grizzly Bear Sanctuary, make it a good choice for both residents and tourists.
Prince Rupert presents a stark price contrast to Vancouver homes. With median house prices in Prince Rupert in the low-to-mid $400,000s, it’s an enticing option for those who dream of coastal living without the hefty price tag.
According to OJO Home, the medium list price in Prince Rupert is $438,000. So let’s see what you can get for that amount.
Photo: A average priced listing on Realtor.ca in Prince Rupert BC
Quesnel BC
Fondly referred to as the Gold Pan City, Quesnel’s legacy is intertwined with the gold rush era. However, its historical significance is just one facet of its charm. Beautiful rivers, lush forests, and a calm environment are balanced out with an attractive housing market. In 2021, average house prices hovered in the mid-$200,000s.
According to the Quesnel Cariboo Observer, the average house price in Quesnel is $209,133. So let’s see what that gets you on Realtor.ca
This home looks like an average home that would cost $1.5m in a place like North Vancouver.
Castlegar BC
Located in the heart of the Kootenays, Castlegar is a city that seamlessly blends natural beauty with cultural richness. The Selkirk Mountains provide a majestic backdrop, while the confluence of the Columbia and Kootenay Rivers adds to its allure.
The city’s real estate market reflects an aggressive competitiveness in affordability. With house prices averaging in the low $300,000s, Castlegar presents an opportunity for individuals and families seeking pocket-friendly homes without compromising on scenic beauty and amenities.
According to Canadian Estate Wealth, the median price in Castlegar BC is $323,000.
But in looking at the MLS system, it looks like the average house price in Castlegar BC is closer to $450,000. There are very few options in the 300s range.
Port Alberni BC
An enticing option on Vancouver Island is Port Alberni. Offering both mountain and water views, the city captures the essence of island living. The average house prices in Port Alberni ranged in the upper 500s. Such affordability is rare for island cities that typically command premium pricing.
Residents get to enjoy the dual luxury of picturesque landscapes and the Pacific Ocean’s proximity. For many, Port Alberni offers a chance to realize their dream of island living without the financial strain commonly associated with luxury cities like Victoria BC.
Ojo Homes says that the average house price in Port Alberni is $580k.
In looking at the MLS system, the $580k average house price seems quite high. There are many average homes in the 400k price range.
Terrace BC
Last but not least, Terrace is a gem tucked away amidst the Skeena River and grandiose mountains. Its setting is nothing short of a postcard picture. Beyond its visual appeal, Terrace’s real estate market has emerged as a beacon for affordable housing.
With average prices hovering in the upper-$400,000s, it stands as a testament to the fact that one doesn’t need to break the bank to enjoy breathtaking views and vibrant community life.
According to the Terrace Standard, the average selling price of a home in Terrance BC is $463,140.
The cheapest homes in BC
Economic diversification and infrastructure developments have been key to keeping these cities’ property prices grounded. Enhanced roads, bridges, and public transit systems have further bolstered their appeal. These tight-knit communities, where the allure of cheap homes and a welcoming atmosphere come together, have started to resonate deeply with Canadians who want to move to BC.
While these cities make homeownership seem easy, potential buyers need to be cautious. Engaging with real estate professionals, understanding the nuances of the local market, and staying updated on future development prospects remain crucial.
It’s evident: while multi-million-dollar average listings make headlines in places like the North Shore of Vancouver, the heart of British Columbia’s real estate story lies in its lesser-known cities. Here, dreams don’t cost a fortune, and nature’s charm doesn’t come with a premium. It’s where the promise of a Canadian home finds fulfillment.
We hope you found this article on the cheapest homes in BC interesting.