Looking for Canadian cities for retirement with a monthly budget of $5000? GOBankingRates has analyzed cost of living and quality of life data across Canada for American retirees. Data was collected from sources such as the Numbeo Cost of Living Index and Numbeo Quality of Life Index. Here are the top Canadian cities for retirement with a $5000 budget:
1. **Saskatoon**:
   - Known for its low cost of living.
   - Average quality of life score with a rating of 154.53.
2. **St. John's, Newfoundland and Labrador**:
   - Stunning natural landscapes and affordable living expenses.
   - Very good quality of life index with a score of 168.79.
3. **Mississauga**:
   - Moderate cost of living with a quality of life index of 161.13.
4. **Windsor**:
   - Lower living expenses with a moderate quality of life.
   - Cost of living index (with rent) is 45.9.
5. **Markham**:
   - High quality of life with a score of 182.05.
   - Slightly higher living expenses with an average apartment rent of $2008.93.
6. **Burnaby**:
   - Highest monthly living expenses mainly due to high apartment rents.
   - Overall, residents of Burnaby still have relatively lower total living costs.
7. **Fredericton**:
   - A combination of low costs and excellent quality of life.
   - Quality of life index is 171.70 with apartment rents averaging below $1117.28.
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