The Most Affordable Markets in British Columbia

For many prospective homebuyers, the British Columbia real estate market is considered unaffordable. While some places in the Western province are certainly far more expensive than the typical buyer’s budget, many other areas of the breathtaking province are considered to be affordable.

Yes, the average price of a home in British Columbia is currently $942,686. However, this is heavily skewed because of the Metro Vancouver housing market, where the average selling price is north of $1.2 million. The same applies to rent, as the average cost is close to $3,000, driven by skyrocketing housing costs in Vancouver.

In that case, where are these affordable markets in British Columbia anyway? For one thing, you will need to look beyond Vancouver and explore the beautiful province, filled with gorgeous lakes, plenty of outdoor activities, and proximity to the Pacific Ocean.

Here are the five most affordable housing markets in BC:

Kamloops

As one of the cheapest places to live in BC, Kamloops offers exceptional value for homebuyers seeking affordability. In the Kamloops real estate market, residential properties are selling for close to $710,000 as of June 2025, according to the Canadian Real Estate Association (CREA). As a result, you are saving roughly $340,000.

For those looking for the cheapest place to buy a house in BC while maintaining access to diverse employment opportunities, Kamloops provides an attractive balance of affordability and economic stability. The city is often referred to as the Tournament Capital of Canada due to the numerous sporting tournaments it hosts annually. Tourism is also a rapidly growing industry in Kamloops, but the major employers in the jurisdiction consist of wood, pulp and paper, transport, and mining industries, the Royal Inland Hospital, and Thompson Rivers University.

Ultimately, Kamloops has plenty of opportunities, from housing to employment. The city’s combination of reasonably priced homes, outdoor recreation, and strong job market continues to attract newcomers searching for affordable living in British Columbia’s interior region.

Sooke

For those exploring the cheapest places to live in BC with coastal access, based on the available housing data, Sooke is often listed as the second most affordable city in British Columbia. The average home price in this region is $722,489, representing a savings of over $200,000 compared to the provincial average. This remarkable affordability makes Sooke an increasingly popular destination for homebuyers seeking the cheapest real estate in BC while still enjoying Vancouver Island’s natural splendour.

Where is this terrific city located?

Sooke is perched on the tip of Vancouver Island. Many consider it to be the hidden jewel of the province. It is a quaint coastal town with stunning seascapes and a relatively slow and laid-back lifestyle. This affordable region boasts natural beauty, rugged shorelines, lush forests, and serenity. Sooke allows those who love nature to form an unspoiled connection to their surroundings without breaking the bank. The combination of affordability and coastal living is increasingly rare in British Columbia, making Sooke a standout option for budget-conscious homebuyers who want to maintain a high standard of living.

Kelowna

Kelowna is the third-largest metropolitan city in British Columbia and the seventh-largest in the province. But for homebuyers specifically looking for urban living, it is far cheaper than both Vancouver and the broader province. In November, the average residential property price was just below $947,000. So, homebuyers are looking at savings of at least $200,000 compared to Vancouver. While buyers searching for the cheapest real estate in BC might look to smaller communities, Kelowna represents a sweet spot of urban amenities and relative affordability.

Kelowna is located east of Vancouver along the shores of Okanagan Lake. The two biggest employers in Kelowna are the tourism and wine industries. Okanagan College and the University of British Columbia campus in Kelowna also make this an attractive location, especially for young people. The region continues to attract professionals and retirees alike who appreciate the balance between urban convenience and the relaxed Okanagan lifestyle.

Campbell River

Got salmon? This area is known to be the salmon capital of the world. It is an attractive spot for people who love water sports, and housing prices here are much more affordable than in the province’s main cities. Fishing is the primary industry here, but there is also significant tourism. Moreover, the area is known as a popular filming location for movies.

Campbell River boasts some of the cheapest real estate in BC on Vancouver Island, offering coastal living at a fraction of the cost found in Victoria or Nanaimo. Interested? The average residential price was $696,344 in August 2025. This makes Campbell River potentially the cheapest place to buy a house in BC’s Vancouver Island region, offering remarkable value for waterfront living. The combination of affordability, natural beauty, and strong community makes Campbell River an increasingly popular choice for homebuyers looking to escape high urban prices while maintaining access to amenities and outdoor adventures.

Vernon

Vernon is one of the most consistent places in British Columbia where people can find affordable housing. It is also the commercial hub of North Okanagan. Vernon offers stunning views of Kalamalka and Okanagan lakes, providing residents and visitors with beautiful beaches, campgrounds, and hiking trails.

So, how much is this heavenly landscape?

The average property price in Vernon is $584,890. This makes Vernon potentially the cheapest place to buy a house in BC’s southern interior. The substantial savings available in Vernon’s real estate market enable homebuyers to access the cheapest real estate in BC while still enjoying the region’s renowned sunny climate and outdoor recreational opportunities.

Okanagan College also has a campus in Vernon, which attracts many young people to the area for post-secondary studies. Beyond affordability, Vernon offers a balanced community with strong employment opportunities in agriculture, manufacturing, healthcare, and tourism.

The Cheapest Places to Live in BC

Indeed, the data suggest that British Columbia maintains an abundance of affordable options across the province. For the most part, if you avoid cities like Vancouver, Victoria, and Vancouver Island, you will be able to find favourable housing conditions for many homebuyers. As you consider your next move, remember that the cheapest places to live in BC often offer the perfect balance of affordability and quality of life. Whether you’re a first-time buyer or looking to downsize, these regions with the cheapest real estate in BC present viable alternatives to the province’s more expensive markets, proving that homeownership in beautiful British Columbia remains achievable for many Canadians.