Retirement age varies from country to country and also from profession to profession, but one common thing is that there is a limit to which anyone can be actively involved in the labor force, hence the need to make adequate preparations for life after active service.
Irrespective of what someone earns and how comfortable they were when they were still active as an employee or business owner, if they are deliberate about how they want to spend their life after retirement and go ahead to make plans, they can still maintain a good lifestyle after retirement.
If you are fortunate enough to earn a good paycheck as an employee or as an entrepreneur, it is vital that you make plans on the most ideal city to retire to. The truth is that some cities that are very suitable for people to retire to without breaking the bank while enjoying their retirement.
Some of the factors that make these cities ideal for retirement include real estate prices, property tax rates, crime rates, climate data, etc. So, if you are looking for the 10 best cities to retire to in Canada, based on well-documented research, here are the best cities you can choose from.
Best Place to Retire in Canada
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Parksville, British Columbia
Parksville, British Columbia is top on our list of the best cities to retire to in Canada. Parksville is a city on Vancouver Island in British Columbia, Canada. As of the 2021 Census, Parksville’s population was 13,642, representing a 9.5% increase over the 2016 Census.
The City of Parksville possesses an abundance of natural beauty and warm hospitality and is renowned for its wide tidal sand flats and sun-warmed salt water. Parksville beach was recently named one of the top six beaches in North America by Better Homes & Gardens magazine.
The City of Parksville is one of the fastest growing areas on Vancouver Island, and a big part of that is the growth of vibrant retirement communities. Parksville is part of the “retirement triangle” that includes Parksville and Qualicum Beach.
The mild climate is perfect for keeping an active lifestyle. The average cost of living in Parksville is $2,707/month for a single person who rents. This average is based on many factors including the cost of housing, transportation, groceries, and entertainment.
Calgary, Alberta is yet another good city that is ideal for people to retire in Canada. Calgary is a large city in the western Canadian province of Alberta. As of 2021, the city had a population of 1,306,784 and a metropolitan population of 1,481,806, making it the third-largest city and fifth-largest metropolitan area in Canada.
Alberta is one of the thirteen provinces and territories of Canada. It is part of Western Canada and is one of the three prairie provinces. In 2007, Forbes magazine ranked Calgary as the world’s cleanest city. Since then, Calgary has also topped the 2014 Mercer Global Financial list for the same honor.
The city boasts clean sewage systems, good water drinkability and availability, and there is not much air pollutSeveraler of state-of-the-art retirement living destinations are found in the city. Seniors who live here love living in the community. The average cost of living in Calgary is $2069 per month.
West Vancouver, British Columbia
Another city that is ideal for people to retire to in Canada is West Vancouver, British Columbia. A member municipality of the Metro Vancouver Regional District, West Vancouver is to the northwest of the city of Vancouver on the northern side of English Bay and the southeast shore of Howe Sound and is adjoined by the District of North Vancouver to its east.
West Vancouver is widely known for its year-round outdoor lifestyle, whether it’s the gorgeous beaches, the plentiful parks and other open spaces for hiking and biking, or the quick access to ski resorts in the winter. Add to that the incredible real estate and you have a winning combination.
Available data shows that a family of four estimated monthly costs are 3,726$ (4,784C$) without rent in West Vancouver, British Columbia. A single person estimated monthly costs are 1,010$ (1,297C$) without rent.
Niagara Falls, Ontario
Niagara Falls, Ontario is yet another city that is ideal for retirement in Canada. Niagara Falls is a city in Ontario, Canada. It is on the western bank of the Niagara River in the Golden Horseshoe region of Southern Ontario, with a population of 88,071 at the 2016 census.
It is part of the St. Catharines – Niagara Census Metropolitan Area (CMA). Incorporated on 12 June 1903, the city is across the river from Niagara Falls, New York. The Niagara River flows over Niagara Falls at this location, creating a natural spectacle that attracts millions of tourists each year.
Niagara Falls is a great place to live, work, raise a family and retire. With its robust education system, cultural and recreational attractions, the dynamic business community, and abundance of exciting, vibrant neighborhoods, you will enjoy a work-life balance that’s hard to beat. ‘Community’ still matters in Niagara Falls.
Another city that is ideal for retirement in Canada is Canmore, Alberta. Canmore is a town in Alberta, Canada, located approximately 81 kilometers (50 mi) west of Calgary near the southeast boundary of Banff National Park. It is located in the Bow Valley within Alberta’s Rocky Mountains.
While living as a retiree in Canmore, you will be surrounded by majestic mountains and beautiful alpine lakes, making Canmore the perfect place for outdoor enthusiasts. While living in Canmore you will always feel like you are on a permanent vacation.
St. John’s, Newfoundland and Labrador
St. John’s, Newfoundland and Labrador is another suitable city to retire to in Canada. St. John’s is the capital and largest city of the Canadian province of Newfoundland and Labrador, located on the eastern tip of the Avalon Peninsula on the island of Newfoundland.
The city spans 446.04 km2 (172.22 sq mi) and is the easternmost city in North America (excluding Greenland). Today, with its modern amenities, world-class dining, and vibrant cultural scene all minutes from pristine coastlines and woodlands, Newfoundland and Labrador offer the best of both urban and rural living.
St. John’s is a great city to call home as a retiree. Known for its welcoming people, beautiful natural environment, vibrant arts and culture scene, excellent range of amenities, and sense of community. The slower pace of life here is especially amenable to seniors, while the area’s high unemployment rate is less meaningful for those who’ve left the working world behind.
Another city that is ideal for people to retire to in Canada is Ottawa, Ontario. It is located at the confluence of the Ottawa River and the Rideau River in the southern portion of the province of Ontario. As of 2021, Ottawa had a city population of 1,017,449 and a metropolitan population of 1,488,307, making it the fourth-largest city and fourth-largest metropolitan area in Canada.
The big factors that will encourage retirement in this city are a diverse private sector, high quality of life, and low cost of living. Aside from a strong economy and high income, Ottawa also earns high marks for being pedestrian and transit-friendly. And it was also ranked #1 as the best place to live for newcomers to Canada as well.
Victoria, British Columbia
Victoria, British Columbia is yet another ideal city to retire to in Canada. Victoria is the capital city of the province of British Columbia, Canada. It is named after Queen Victoria. Over 350,000 people live in the Victoria area. Many people work for the government or in tourism.
It is warmer than other Canadian cities in the winter, so many Canadians move there when they retire.Victoria is on Vancouver Island. Most people travel there by boat (ferry) from Vancouver, or Washington State. Victoria has three ferry docks and an airport, Victoria International Airport.
Victoria is often ranked highly as a retirement destination for its low property tax rates and the high number of doctors per capita. Money and health care are important, certainly, but the climate here is second to none in the country.
Healthy sea air and moderate temperatures make life here better than in many other colder, drier climes. And of course, let’s not forget the scenery! Nearby towns like Saanich and others further up the coast are also all retirement destinations.
Prince Edward County, Ontario
Prince Edward County, Ontario is one of the cities that you should consider if you are looking for a city to retire to in Canada. It is in Southern Ontario near the eastern end of Lake Ontario. The Bay of Quinte is north and east of the county.
The county covers 1,050.45 square kilometers (405.58 square miles). According to the 2011 census, the county had a population of 25,258. Prince Edward County is a single-tier municipality, which means that it is not divided into townships and cities.
Prince Edward County (PEC) ranks as one of the top picks in Ontario for retirees. Home to affordable housing, excellent healthcare, beaches, a booming art and music scene, and 23 golf courses, there are plenty of diversions to keep retirees active.
Lastly, another city you should consider if you are looking for some of the best cities to retire to in Canada is Saskatoon, Saskatchewan. Saskatoon is the biggest city in Saskatchewan, though, is not the capital of Saskatchewan. Regina is the capital of Saskatchewan.
Saskatoon enjoys one of the lowest costs of living among major cities in Canada. This means that you will pay less for housing, utilities, food, and taxes in Saskatoon than in other similar-sized or larger cities. Interestingly, the cost of living in Saskatchewan is extremely low. The average rental for a one-bedroom apartment in Saskatoon and Regina is $803 and $954 respectively whereas the rental for a one-bedroom in Toronto is $2,230.