Windsor Ranks #3 - Canada's Best Cities For Jobs AND Affordable Homes
Wednesday, December 21, 2016
You’ve likely seen rankings of the best cities in Canada to find a job, and rankings of the most affordable housing markets around.
The problem is, they're not the same places. Toronto and Vancouver are creating tons of jobs, but are now seriously unaffordable. Lots of cities in Canada have much cheaper houses than those two, and few jobs to go with it. But people need both jobs and homes, don’t they? So what about the best cities for both?
We compiled data from Bank of Montreal’s Labour Market Report Card, and from home affordability indexes from Royal Bank of Canada and Caisse Desjardins, to figure out which cities are the best on both measures.
None of the cities that top this list are the best places to find work in Canada; nor are they the places with the least expensive homes, for the most part. These are the cities that have the best balance of the two.
The biggest surprise? The top two cities in Canada on this metric are both in provinces suffering from the oil crash.
Click HERE to see the top 10, and the bottom worst. The methodology can be found at the bottom of this story.
#3: Windsor, Ont. (80%)
Jobless rate: 6.4% (Year ago: 8.9%)
Average house price: $227,870
BMO labour market ranking: 8 out of 33
Desjardins affordability ranking: 4 out of 20
The long-suffering auto capital of Canada has had one of the strongest job markets in the country over the past year, adding 1.6 per cent new jobs. But house prices haven't caught up, making the city eminently affordable.