After some ups and downs, Canada’s housing market finally found its footing in 2024. The year started slowly, with high interest rates keeping many would-be buyers on the sidelines. But as the Bank of Canada began to trim rates, the mood shifted. Confidence returned, and so did the buyers, many of whom had been waiting patiently for their moment to jump back in.
It was the smaller, more affordable cities that drew the strongest interest from buyers, leading the market in both demand and price growth. Unlike the major metropolitan areas, these communities offered greater purchasing power, manageable competition, and a straightforward path to long-term returns.
Now, as 2025 gets underway, new questions are at the top of people’s minds. Economic uncertainty, ranging from global tariffs to recession chatter, is prompting some Canadians to reconsider where to invest in real estate. In this cautious landscape, Canadian homebuyers face a familiar but pressing question: Where can I find the best value for my hard-earned dollars?
To help answer that, Zoocasa has once again partnered with MoneySense to release the2025 edition of Where to Buy Real Estate in Canada—a comprehensive ranking of markets that balance price, value, long-term growth potential, and livability. This year’s list offers a fresh perspective on where savvy buyers should set their sights.
The Top-Ranked Cities to Buy a Home
For buyers looking for the best mix of affordability and future growth, these three markets rise to the top. Based on MoneySense and Zoocasa’s analysis of data from 44 regions, these are the top places to buy real estate in Canada in 2025:
1) Fredericton, NB
- 3-year growth: 32%
- Average 2024 home price: $310,925
Fredericton is the capital city to watch in 2025. Ranked number one in MoneySense and Zoocasa’s national analysis of 44 regions, this charming capital of New Brunswick combines low home prices with significant value. The benchmark home price in Fredericton is just $310,925 (more than $400,000 below the national average), yet home values have increased an impressive 72% over the past five years.
The city also scores well for safety, with a rating of 67.28, and offers a comfortable median after-tax income of $69,000. With a value score of 3.74 out of 5, it’s no wonder buyers are looking towards the east. With quiet streets, strong growth, and unmatched affordability, Fredericton has much to offer. Check out homes for sale in Fredericton.
2) Calgary, AB
- 3-year growth: 29%
- Average 2024 home price: $577,367
Calgary lands in second place by striking a compelling balance between earnings and opportunity. With a benchmark home price of $577,367 and a sky-high median after-tax income of $87,000, Calgarians enjoy one of the strongest income-to-housing ratios in the country. It’s a thriving western hub where 5-year price growth sits at 41% and neighborhoods still offer surprising affordability.
The city also stands out for its health care index of 73.98 (among the best in the country) and a respectable safety index of 61.61. While home prices are higher than in the Maritimes, Calgary’s 3.69 value score confirms its long-term potential for buyers looking to plant roots in a city with real staying power. See Calgary homes for sale.
3) Saint John, NB
Saint John rounds out the top three with some of Canada’s most wallet-friendly real estate and a coastal charm all its own. The benchmark home price sits at just $311,225, nearly identical to Fredericton’s, and over $400,000 below the national average. What makes this city stand out? Strong 5-year price growth of 71% and a surprisingly robust health care index of 71.80.
Though incomes here are more modest ($56,800 after tax) the low cost of entry and a 3.55 value score make it a smart pick for buyers craving affordability without sacrificing quality of life. Take a look at Saint John homes available now.
- 3-year growth: 34%
- Average 2024 home price: $311,225
Regions Falling Behind in Value Rankings
These are the cities with the lowest value scores, largely due to higher home prices or weaker price growth trends compared to the regional average. While affordability plays a key role, the score also considers recent market performance, including one, three, and five-year price growth. Other factors like income levels, safety, and access to health care are included to provide a fuller picture of long-term value.
1) Fraser Valley, BC
- 3-year growth: 8%
- Average 2024 home price: $990,900
It may be beautiful, but the Fraser Valley ranks near the bottom when it comes to affordability. With a benchmark price nearing $1M ($990,900), it’s one of the priciest regions in Canada—despite experiencing a -1% decline over the past year. Over five years, growth has been solid (46%), but rising costs and a low safety index of 41.75 weigh heavily on its appeal. Even a decent median income of $77,500 and a fairly strong health care index (65.84) aren’t enough to boost its value score beyond 1.95. For many buyers, the Fraser Valley’s stunning views come with a steep price and limited return
2) Quinte and District, ON
- 3-year growth: 4%
- Average 2024 home price: $575,100
The Quinte District ranks 43rd primarily due to slow growth. Though the average home price of $575,100 seems fair at a glance, growth has been sluggish, just 1% in the past year and only 4% over three years. While incomes are moderate at $72,500, the area scores poorly on the health care index (26.44) and safety index (42.21), painting a picture of a region where services haven’t kept pace with demand. With a value score of 1.79, Quinte offers less bang for your buck compared to higher-ranking markets.
3) Bancroft and Area, ON
- 3-year growth: 11%
- Average 2024 home price: $517,558
Bancroft is at the bottom of the lit, a scenic but financially challenging market for homebuyers. With a benchmark price of $517,558 and a median after-tax income of just $52,800, affordability is a major concern. While the area saw the highest 5-year growth of any region at 81%, recent gains have been modest, and basic services lag behind. Both the safety and health care indices sit at just 42.21 and 26.44, respectively—the lowest in the country. With a value score of 1.72 out of 5, Bancroft may appeal to nature lovers, but for most homebuyers, it’s a tough sell.
While the data highlights key metrics like home price appreciation, value relative to the national average, and local economic conditions, many buyers are ultimately looking for something more personal: the right neighbourhood to call home. That’s why, as part of this feature, we went a step further—analyzing the most livable neighbourhoods in major cities across Canada, including the GTA, Vancouver, Calgary, and Edmonton.
If you’re looking to get into the real estate market this year, give us a call and we’ll help you find your dream home!
