Report shows the happiest cities in Canada come with steep housing prices
A new analysis shows just how much people have to pay for homes in the happiest cities in Canada.
Leger shared the results of its 2025 happy cities and provinces survey in July, providing a snapshot of happiness as perceived by citizens in Canada.
“Based on a large representative sample, it highlights the regional, generational and social dynamics shaping well-being in 2025,” stated the report.
The survey found that, on average, Canadians rate their level of happiness at 68.7 out of 100.
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Leger noted, however, that beneath this average lies “more concerning realities” with 28 per cent of Canadians reporting feeling less happy than they did a year ago, while 49 per cent reported their happiness level remained the same, and 23 per cent said it improved.
Leger ranked happiness levels in the largest cities in Canada, with only two ranking above the national average. Mississauga, Ont., took the first spot with a score of 70.3, followed by Montreal (69.4) and Hamilton, Ont. (67.5).
Calgary took fourth place with a happiness level of 67.4, while Vancouver followed far behind in eighth place with a score of 66.3.
Toronto seems to be the least happy of all of the major cities, with levels at 65.8.
Leger
Real estate company Zoocasa conducted further analysis of the report to explore “how happiness intersects with housing.” It compared Leger’s findings with average home prices from the Canadian Real Estate Association (CREA) and the Toronto Regional Real Estate Board (TRREB) and calculated a “price per happiness point.”
Zoocasa found that happiness comes at steep home prices for the top-ranking cities.
In Mississauga, the average home costs $969,501, meaning Canadians who live in Mississauga are paying about $13,788 for every “point” of happiness. That’s almost double the price per happiness point in Montreal, which is at $8,343, according to the real estate company.
“The eight other largest cities by population fall below it, even with their abundance of amenities, job opportunities, and urban conveniences,” wrote Zoocasa spokesperson Angela Serednicki. “When home prices are factored in, the difference becomes even more pronounced.”
The price per happiness point ranges from the lowest $5,790 in Winnipeg to the highest $17,220 in Vancouver.
The analysis suggested that cities in Western Canada offer the best value for happiness.
Edmonton ($6,289 per point), Calgary ($8,425), and Winnipeg ($5,790) have some of the lowest housing costs in the ranking, while competing with happiness levels to those in high-priced cities.
“This suggests that Western Canadians enjoy one of the best ‘happiness returns’ on their housing investment, with affordability playing a key role in overall satisfaction,” wrote Serednicki.
Zoocasa
The analysis found that Montreal and Calgary strike a balance between emotional satisfaction and accessible home prices, with both cities reporting high-ranking happiness levels while maintaining mid-range home prices.
“At roughly $8,000 per happiness point, these markets show that livability and affordability can coexist, offering residents a sense of well-being without the financial strain found in Canadaās most expensive metropolitan areas,” explained the Zoocasa analysis.
Canadians living in Vancouver and Toronto have some of the lowest happiness levels, while still carrying the highest housing costs.
“With home prices exceeding $1M in both markets, residents are paying upwards of $16,000 per happiness point,” wrote Serednicki. “The data suggests that even as these cities offer vibrant job markets and cultural opportunities, affordability pressures continue to weigh on overall life satisfaction.”
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