3 Quebec Spots Were Ranked Among The Best Cities In Canada To Get Rich

Who doesn't want to get rich? 💰

Assistant Editor, MTL Blog
A number of buildings located in Sherbrooke, Quebec. Right: The Laviolette Bridge located in Trois-Rivières, Quebec.

A number of buildings located in Sherbrooke, Quebec. Right: The Laviolette Bridge located in Trois-Rivières, Quebec.

Montreal and Quebec City are regarded as two of the best cities in Canada. However, when it came to a recent ranking of the best cities across the country to get rich in, neither Montreal nor the province's capital made the cut — but these three Quebec cities did.

Yore Oyster, a Canadian personal finance company, ranked the best cities across Canada in which to save some big bucks and build your net worth — primarily focusing on small cities that are bringing in more and more people and businesses.

The ranking took into consideration three factors: median household income after taxes, the monthly cost of living and GDP per capita. The finance site used data from Statistics Canada, the Canadian Real Estate Association, the Government of Canada and each city's official website in order to compile the top 20.

Sherbrooke managed to score the 10th spot on the list and it's all thanks to the city's economic ecosystem that promotes business development and growth, especially in key sectors such as innovation, digital transformation and exports.

"Sherbrooke, which is the economic centre of Estrie, is a significant cultural, industrial, and academic hub in the province," Yore Oyster said.

The median household income after taxes in Sherbrooke is $57,432, with the cost of living per month coming in at $1,515.

Lévis came in 16th with the city's development of commercial centres, manufacturing plants and industrial sectors all making it a prime spot to live if you want your bank account to (hopefully) blossom. The median household income in Lévis is $62,634 and the cost of living will set you back $2,343 per month.

Trois-Riviéres also made the list — ranking 18th. The city's median household income after taxes in Trois-Rivières, according to Yore Oysters, is $44,987 and the cost of living per month is $1,470.

Wondering which other small cities ranked the best spots to get rich in Canada? Check out the full list:

  1. Oakville, Ontario
  2. Burlington, Ontario
  3. Saskatoon, Saskatchewan
  4. Regina, Saskatchewan
  5. Barrie, Ontario
  6. St. Johns, Newfoundland and Labrador
  7. Saanich, British Columbia
  8. Waterloo, Ontario
  9. Guelph, Ontario
  10. Sherbrooke, Quebec
  11. Kamloops, British Columbia
  12. Greater Sudbury, Ontario
  13. Lethbridge, Alberta
  14. Kingston, Ontario
  15. Thunder Bay, Ontario
  16. Lévis, Quebec
  17. Kelowna, British Columbia
  18. Trois-Rivières, Quebec
  19. Nanaimo, British Columbia
  20. St. Catharines, Ontario

This article's cover image was used for illustrative purposes only.

Mike Chaar
Assistant Editor, MTL Blog
Mike Chaar is an Assistant Editor for MTL Blog focused on recalls in Canada and is based in Montreal, Quebec.
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