Curious about a move to Ottawa? It’s important to have an idea of the cost of living in Ottawa. Will your usual spending provide you with the same type of lifestyle in Ottawa? What neighbourhood can you afford to buy in? What is the average salary?
We’ve put together five points for you to consider.
How does it compare to other major cities?
The cost of living in Ottawa and housing is still affordable compared to other large cities in Canada, and around the world for that matter. Toronto, Vancouver and Calgary are expensive when you factor in the cost of housing. Take a look at a report MoneySense put together. At the bottom of the page, they put together a chart of average housing costs from 2017 in major Canadian cities.
Click through on the photo to see the full chart. You can rearrange it many different ways!
What is the unemployment rate?
If you’re moving to Ottawa because of a promotion at work, or a new job – congrats! Although you may still have to consider unemployment rates for a spouse, or if you’re looking for a career change. The Ottawa Citizen wrote an article based on a report from Statistics Canada, “…the first time since January 2009 that the region’s unemployment rate registered less than five per cent”. Luckily, employment is strong in Ottawa with one of the lowest unemployment rates in Canada and consistently below the national average – so things are looking good.
Can you still get luxury real estate in Ottawa?
Yes! A well educated work force means average incomes in Ottawa are also very positive allowing people to have more income to spend. There is a lot of wiggle room in Ottawa and there is generally something that appeals to all incomes and lifestyle choices.
How do the seasons come into play?
Most of the housing particularly for 1st time buyers, is in the suburbs. Since newer construction is more energy efficient it reduces heating and cooling costs in these homes. If you’re completely new to the cold Ottawa winters, extra fees might come from needed larger ticket items like a warm winter coat!
Is it easy to get around?
Public transit is very good in Ottawa. With the expansion of light rail, it will allow families to have one or no cars which can greatly reduce the cost of living.
The Confederation Line is set to open this November, but you can keep up with all updates here.
Still have more questions about the cost of living in Ottawa? We are always here to help! Don’t hesitate to call us to ask, or if you’re already set on a move to Ottawa we will help you find your dream home.