O'Leary, #1 on this list · Photo: Earth Science and Remote Sensing Unit , Lyndon B. Johnson Space Center (Public domain)

Prince Edward Island · 2026

Most affordable towns in Prince Edward Island

O'Leary tops the list on Prince Edward Island, at A. Second place goes to Kensington, Part 1, at B+, and third to Vernon River, at B+. The A range holds a single one of the 12 on this list. Bottom of the list: Charlottetown, with D. On the national list, O'Leary is #67 of 2,580. The national top 100 holds just one place from Prince Edward Island.

Cost of living grade: the owners’ median home value and a year’s rent, each against the place’s own household income How grades work

#1

O'Leary

Prince Edward Island · 2,878 people

ACost of living

Overall –

Strongest: cost of living A, hazard risk A⁻·lowest: walkability D

#2

Kensington, Part 1

Prince Edward Island · 3,357 people

B⁺Cost of living

Overall –

Strongest: jobs & income A, hazard risk A⁻·lowest: walkability D

#3

Vernon River

Prince Edward Island · 2,779 people

B⁺Cost of living

Overall B·#957 of 2,556

Strongest: hazard risk A, safety A⁻·lowest: walkability C⁻

Photos: O'Leary, Earth Science and Remote Sensing Unit , Lyndon B. Johnson S… (Public domain) · Kensington, Part 1, Earth Science and Remote Sensing Unit , Lyndon B. Johnson S… (Public domain) · Vernon River, Earth Science and Remote Sensing Unit , Lyndon B. Johnson S… (Public domain), via Wikimedia Commons.

Sources: TownRatings grades: our own summary of the data, ranking Canadian towns against each other only, run #73 of 10 November 2026. Under the Statistics Canada Open Licence.

Adapted from Statistics Canada (Census of Population 2021, population estimates 2025, 2021 census boundaries) under the Statistics Canada Open Licence; this does not constitute an endorsement by Statistics Canada. Neighbourhood names in some cities © OpenStreetMap contributors (ODbL).