Cost of Living
In Prince Edward Island, daily life is affordable and your money can go further.
Housing costs and costs of real estate in Prince Edward Island are among the lowest in Canada and, as a result, PEI has one of the highest home ownership rates in the country. The average price of a house in PEI is below $150,000, making it one of the most affordable places to live in Canada.
For $150,000 to $170,000, you can expect to buy a beautiful two storey, three to four bedroom home in Charlottetown with two bathrooms, a fireplace, a garage, and a nice backyard. These types of homes are not difficult to find.
If you choose to live in rural PEI, you can find a quality home for even less money. If you have closer to $300,000 to spend on a home, you could purchase a lovely four bedroom house in a quiet seaside village with acres of land with a view of the water and a large building for storage. Depending on the size, type and location, and availability of property for sale in PEI you could even purchase a farm and grow food or raise animals.
The cost of living in Prince Edward Island is low and the average family can afford a comfortable life. PEI has a commission responsible for regulating the price of rent, gasoline, utilities, and insurance rates to ensure fair pricing.
Source: Prince Edward Island Annual Statistical Review 2011
Source: Prince Edward Island Annual Statistical Review 2010
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