The average living cost in PEI
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Housing and heating costs, as well as the cost of living generally, are among the lowest in Canada. Average income for Prince Edward Island families is $41,500, which is below the Canadian average. The mandatory minimum wage is also modest by Canadian standards at $9.00/hr. Provincial personal income taxes are above the Canadian average at 18.37%.
See more: Frequently Asked Questions About Prince Edward Island Provincial Nominee Program
Prince Edward Island has a low population and, consequently, affordable housing is widely available in the province.The average price of a house in P.E.I. is around $200,000, making it one of the most affordable places to live in the country. In addition, the average percentage of household income taken up by ownership costs varies between 21–32%, depending on the type of home involved, which is among the lowest in Canada.
However, the low cost of housing, combined with the relativelysmall size of the city — which cuts down on transportation costs — makes PEI one of the most affordable places to live in Canada.
See more: Prince Edward Island Program