New Brunswick is consistently ranked among the most affordable provinces in Canada when it comes to overall cost of living. With lower housing prices than Nova Scotia, no provincial property transfer tax, and competitive income tax rates, NB offers significant financial advantages for both homebuyers and renters. This guide breaks down the real costs of living in New Brunswick in 2025.
New Brunswick's housing is genuinely affordable by Canadian standards. In Moncton, average one-bedroom apartment rents range from $1,400–$1,900/month; two-bedrooms average $1,700–$2,200/month — meaningfully below Halifax and dramatically below Toronto or Vancouver. Homeownership carrying costs on a $330,000 Moncton property with 10% down are approximately $2,000–$2,400/month total, making ownership financially competitive with renting.
Fredericton and Saint John are even more affordable than Moncton in most price segments.
New Brunswick also charges 15% HST, the same as Nova Scotia. This applies to most consumer goods and services, excluding basic groceries and most medical products. The high HST rate is a notable cost offset to NB's otherwise lower cost profile — it affects all purchases equally regardless of income level.
New Brunswick's provincial income tax rates are somewhat competitive with Nova Scotia. For 2025, NB provincial rates range from 9.4% on the first ~$47,715 to 20.3% on income over $166,280. These rates, combined with federal tax, mean moderate-to-high earners in NB keep slightly more of each dollar than in Nova Scotia — though the difference narrows at higher income levels.
One of New Brunswick's most significant cost advantages is its complete absence of a provincial property transfer tax. Buyers in Moncton, Fredericton, or Saint John pay $0 in transfer tax at closing, compared to approximately 1.5% in Nova Scotia's HRM. On a $340,000 purchase, this is a direct saving of $5,100 compared to a Halifax purchase.
Grocery prices in New Brunswick are broadly comparable to Nova Scotia and the national average. Some imported goods may cost slightly more in smaller centres, but major centres like Moncton have Costco, Walmart, and all major national grocery chains ensuring competitive pricing. A two-person household budget for groceries is approximately $650–$850/month.
NB Power electricity rates are competitive with Nova Scotia Power. Natural gas is available in the Moncton and Saint John areas. Many NB homes still use heating oil — budget approximately $2,200–$3,800/year depending on home size and insulation quality. Heat pump adoption is growing with provincial incentives reducing upfront costs.
New Brunswick is highly car-dependent outside Moncton's core. Car insurance in NB averages approximately $1,100–$1,600/year — slightly lower than Nova Scotia. Gas prices generally track regional trends. Most household in cities outside Moncton's walkable core require two vehicles.
New Brunswick offers a lower overall cost of living than Nova Scotia in the majority of categories — particularly housing, property purchase costs (no PTT), and somewhat lower income taxes. The HST rate is identical. For buyers choosing between Halifax and Moncton, the Moncton financial advantage is real and compounding over time: lower purchase price, no transfer tax, lower monthly ownership costs, and similar wages in many sectors given remote work flexibility.
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