![]() While British Columbia takes the top spot as the most expensive province in Canada, Alberta closely follows as the third most expensive. ![]() These high costs have a significant impact on renters, with the average asking rent in Ontario reaching $2,492 in October. Additionally, over two-fifths of the other factors rank in the top three, including renting and purchasing property, buying a car, and household appliances. The study found that Ontario is the most expensive province for three factors: fruit and vegetables, home repairs, and furniture. However, the median house price in British Columbia is even higher at $996,460. ![]() The soaring house prices in Ontario have made it increasingly difficult for first-time buyers to enter the housing market. This is over $400,000 higher than the Canadian average of $490,520. Ontario scored 71 out of 100, with the median price of a home in the province reaching a staggering $931,870. The study considered 55 factors sourced from Statistics Canada and the Canadian Real Estate Association to determine the rankings. A recent study conducted by Westland Insurance has revealed that Ontario is the second most expensive province in Canada, falling just behind British Columbia.
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