Knowledge is power

MoneySense magazine has published a comprehensive ranking of Canadian communities with a population over 10,000 people using criteria such as the weather, home prices, wages, quality of life, crime and overall growth. The editors ranked a total of 123 communities from coast to coast.

So what is the best place to live in Canada according to the magazine? The nation’s capital Ottawa topped the charts. In fact, out of the top ten cities, four are provisional capitals which other than Ottawa include Victoria, Halifax and Quebec City.

Oddly enough, though, Canada’s No. 1 city doesn’t actually come first in any of our categories. It warns its high ranking by being consistently above average in just about everything, but spectacular in nothing. It’s most notable for the high discretionary incomes of its residents and the loads of new cars on its streets; it also enjoys steady population growth, lots of doctors, a low unemployment rate, a National Hockey League team and more museums, theaters and art galleries than you can shake a politician at.

Interestingly, out of the top ten cities, nine are from the East coast with only Victoria representing the West. Victoria also ranked 3rd on the list of the best places to retire with Quebec City taking the top spot in this category. And if you are wondering which city enjoys the highest income per household then you would be correct if you guessed a city in Alberta were oil has created a booming economy. The average household income in Fort McMurray, Alberta, is estimated at $135,500.

Get the complete list of cities at MoneySense.ca