10 Places Where You Can Get a Home for Under $200,000

The average sales price for a home in the Canadian real estate market is currently $664,078. Even when Toronto and Vancouver are removed from the equation, house prices are still more than $600,000. But believe it or not, there are still some places where you can buy homes for sale under $200,000.

When the down payment, land transfer taxes, and closing costs are combined with high housing prices, it can be challenging for the typical household to afford the purchase of a single-family house, townhome, or even a condominium unit.

Is the Canadian dream of home ownership dead in the water? Not exactly, because there are still many residential properties available that are selling for below $200,000. Sure, you may not be looking at buying a home in the heart of a big city for this price, but ownership is still doable in this heated housing environment.

So, where can you find homes for sale under $200,000 anyway? You may need to open your eyes to one of the world’s most beautiful countries, and expand your search beyond southwestern Ontario and British Columbia.

Here is a list of 10 places where you can buy homes for sale under $200,000.

10 Places Where You Can Buy Homes for Sale Under $200,000

1. Airdrie, Alberta

The Alberta real estate market is heating up, with many pockets of the province witnessing notable price gains and sizeable sales activity. While the market continues evolving, Airdrie still offers select affordable housing opportunities for budget-conscious buyers. Houses for sale under $200k can be found, particularly in older neighbourhoods and condominium developments. The city’s affordable housing initiatives have also helped maintain some inventory of attainable homes in the area.

2. Fort McMurray, Alberta

You can add Fort McMurray as another Alberta municipality that can offer affordable housing options, be it a detached house or an apartment-style unit. In 2025, the market in Fort McMurray continues to provide value, with condos for sale under $200,000 being some of the best opportunities. The economic shifts in the region have created a favourable environment for buyers seeking affordable entry points into homeownership.

3. Saskatoon, Saskatchewan

Surprisingly, multiple residential properties are listed for $200,000 or less in Saskatoon. Despite the Prairies becoming a red-hot housing market and experiencing considerable growth, not everyone is being left out in the cold, with homes selling for less than $200,000. As of 2025, the city maintains its reputation for housing affordability, with the continued availability of homes for sale under $200k in several neighbourhoods. Starter homes, townhouses, and condominiums present viable options for budget-conscious buyers.

4. Winnipeg, Manitoba

The Winnipeg real estate market has been booming. Yet even in 2025, certain areas and property types remain within reach for those with limited budgets. Condos for sale under $200,000 and small detached homes can still be found, especially in emerging neighbourhoods and suburban areas.

5. Sault Ste. Marie, Ontario

Is the Ontario real estate market a lost cause for the many households wishing to acquire affordable property? Places such as Sault Ste. Marie have plenty of homes in the under-$200,000 range. This northern Ontario gem offers considerably more affordable housing than the southern parts of the province, with continuous availability of houses for sale under $200k.

6. Amherst, Nova Scotia

Atlantic Canada has and continues to be one of the top housing markets in the entire country. Prices are surging, while sales activity is strong. But do not let these trends fool you: You can find homes throughout Nova Scotia that will cost you less than $200,000. Amherst remains a standout for affordability, with homes for sale under $200,000 readily available. Historic properties with character and small-town charm characterize the local housing stock.

7. Newfoundland and Labrador

Newfoundland and Labrador has been home to some of Canada’s most affordable real estate, including New Hartford. In this area, you can buy a small property or even a mobile home and enjoy all the benefits of living in the province. Newfoundland’s renowned hospitality and strong sense of community provide an intangible benefit to homeowners looking for houses and condos for sale under $200,000.

8. Fenwick, Nova Scotia

Fenwick continues to offer some of the most affordable real estate in the country, with houses for sale under $200k ranging from cozy bungalows to charming country properties. The rural setting appeals to those seeking a quieter lifestyle without sacrificing connectivity. This is far from what you would expect in major urban centres or even small towns in Ontario.

9. Truro, Nova Scotia

Life outside the main city centre of Halifax in the delightful province of Nova Scotia has attracted many buyers from near and far. Indeed, the eastern seaboard is developing as officials seek to capitalize on the housing boom on the East Coast. The smaller towns of Nova Scotia make it easy to enjoy the fruits of homeownership at an affordable price. Truro maintains its reputation for affordability with the continued availability of homes for sale under $200k. The town’s historic architecture, riverside setting, and small-town feel offer tremendous value to homeowners.

10. Regina, Saskatchewan

Can you find a home for less than $200,000 in the capital of Saskatchewan? Yes. Even in 2025, Regina continues to offer condos for sale under $200,000, as well as select detached homes in this price range, particularly in established neighbourhoods. The city’s ongoing revitalization efforts have improved amenities while maintaining pockets of affordability. Of course, it might not be a palace in Regina, but living close to the city and spending less than $200,000 on a home is an attractive prospect.

Finding Houses for Sale Under $200k

While major metropolitan areas continue to see rising prices, affordable homeownership does remain possible. For many Canadians, these smaller markets are a unique opportunity to enter the housing market without excessive debt. But remember, be realistic in your hunt for houses for sale under $200k because they may not always be found in the downtown core of Toronto. Instead, explore other parts of Canada where you may enjoy a long list of benefits not found in any major urban centre.