The average living cost in PEI

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