The Most Expensive Lakes in Canada to Buy a Second Home

Written by Luke Stevens
Updated: August 22, 2023
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Located just north of the United States, Canada is the second largest country in the world. Stretching almost 4,000,000 square miles in total land area, the country has many distinct geographical features. Enormous mountains, deep valleys, sprawling plains, and lush forests decorate Canada’s landscape. Although they are pretty cold for the majority of the year, the country also has beautiful beaches and coastlines.

In addition to the rest of its natural beauty, Canada is also home to many lakes. Believe it or not, Canada is the country with the most lakes in the world! In total, there are 879,800 lakes in Canada varying in size, shape, and depth. Because these lakes are so beautiful, they make a wonderful place to live. However, purchasing a second home on some Canadian lakes is much easier said than done. Keep reading to discover the most expensive lakes in Canada to buy a second home.

Lake Joseph is connected to Lake Rosseau through the narrows at Port Sandfield and the Joseph River.

1. Lake Rosseau

Lake Rosseau at Rosseau Waterfront Park, Ontario, Canada

Spanning almost 25 square miles in surface area, Lake Rosseau has an average depth of 44 feet and a maximum depth of 89 feet.

©User:P199, CC BY-SA 4.0 – License

Lake Rosseau is part of the Muskoka County region, which is comparable to the Hamptons in New York. The lake is known as the most prestigious in the country and has been home to many celebrity and billionaire sightings in the past. Spanning almost 25 square miles in surface area, the lake has an average depth of 44 feet and a maximum depth of 89 feet. The dark blue waters of the lake are broken up by many islands and rocky cliffs. Lush foliage surrounds the lake’s edge, creating a serene natural haven that is extremely sought after by the most wealthy individuals in Canada. No wonder Lake Rosseau is one of the most expensive lakes in Canada!

What to do Near Lake Rosseau

The natural beauty of Lake Rosseau is the main attraction of the area. Numerous lakefront parks offer sandy beaches to bask in the sun and playgrounds to keep small children entertained and busy. Several different hiking trails allow visitors to explore the area, including a walk to the roaring Rosseau Falls. There is also a wildlife sanctuary in the area, which allows visitors and residents to get up close and personal with the astonishing animals that call Lake Rosseau home. To learn more about the surrounding area, the Muskoka Lakes Museum offers a rich history of Lake Rousseau and its tribal roots.

If you love to shop, the Rosseau Market is the place for you! The massive market attracts vendors and merchants from all over to sell clothes, jewelry, and more. In addition to the regular vendors, many seasonal stands pop up at different times throughout the year, ensuring that the market stays interesting and original.

House for Sale: This traditional yet modern home is stunning. Covering 7,500 square feet, the lakefront estate offers six bedrooms and nine bathrooms. Other amenities include two garages, two acres of land a home theatre, boat lifts, a home gym, a sauna, and a hot tub. Price: $21,995,000

2. Lake Muskoka

A closeup shot of a pier on the Lake Muskoka in Ontario, Canada

Because Lake Muskoka was inhabited by native tribes for the majority of its history, it has only recently become a popular vacation spot.

©Light and Vision/

Located just north of Ontario, Lake Muskoka is one of the most expensive and exclusive lakes to purchase a second home in Canada. The lake is fairly large, with a total surface area of 46 square miles. Because the lake was inhabited by native tribes for the majority of its history, it has only recently become a popular vacation spot. This non-commercial background allowed the natural beauty of the area to stand the test of time and be preserved for visitors and residents to enjoy today. After World War II, real estate became extremely desirable in the area and has remained that way ever since.

What to do Near Lake Muskoka

An abundant offering of activities and fun is one of the reasons why Lake Muskoka is such a popular place to visit. The lake provides opportunities for countless water activities, including boating, fishing, swimming, and paddleboarding. If you don’t have a boat or paddleboard of your own, there are plenty of rental shops around the lake to make sure you can still have fun! Around the lake, many hiking trails offer picturesque views of the water and the natural beauty surrounding it. To appreciate the wildlife on Lake Muskoka, visitors can sign up for information canoe tours and experience a one-in-a-lifetime adventure. After a long day of exploring and spending time outdoors, visitors and residents can enjoy the vibrant culture of the area. The town surrounding Lake Muskoka is home to an abundance of art galleries and museums. There are also several art festivals held throughout the year.

To remember the amazing visit, you may want to pick up a souvenir. Well, the Lake Muskoka area has no shortage of amazing shops! Boutique clothing stores, thrift shops, and high-end galleries offer something for everyone to enjoy. In addition to retail, there are also several farmer’s markets and stands to taste the fresh local produce.

House for Sale: This lakefront property encompasses over 18,000 square feet of luxury real estate. Included in the home are 10 bedrooms, 14 bathrooms, a two-story boathouse, a dock, and 500 feet of beach. Price: $14,950,000.

3. Lake Joseph

Marina at Portage Bay, off Gordon Bay (Lake Joseph), Ontario, Canada

Known for its extremely clear water, Lake Joseph is truly a natural phenomenon.

©P199, CC BY-SA 3.0 – License

The third most expensive lake in Canada has to be seen to be believed. Located just north of Lake Muskoka, Lake Joseph is a slightly smaller body of water. However, this does not make the area any less impressive. Lake Joseph is a part of the Muskoka Lakes Association, which means it is a part of the same community as several other lakes including Lake Muskoka. The lake encompasses 21 square miles of surface area and has an average depth of 82 feet. Although this is a pretty impressive average depth, Lake Joseph reaches 305 feet at its deepest. Known for its extremely clear water, this lake is truly a natural phenomenon. The water is so clear that the human eye can see 22 feet below the surface just by looking down!

What to do Near Lake Joseph

One of the most popular things to do on Lake Joseph is taking a sunset cruise. This allows visitors to take in amazing sights at golden hour all while enjoying amazing foods and beverages. Aside from all the traditional water activities, the lake offers many other amazing activities. Golf lovers will be in paradise on Lake Joseph, enjoying some of the finest greens in all of Canada. The robust golf culture is part of what draws so many people to the area. However, the presence of a world-class gold course also significantly increases real estate prices near Lake Joseph.

The lake is also home to over 36,000 fish, making it an absolute dream for fishermen. In addition to the bountiful fish population, the lake’s crystal clear waters make getting a bite extraordinarily easy. Another unique feature of Lake Joseph is its cranberry farm. Visitors can take a tour of the farm to learn how cranberries are grown and taste the fresh berries in several iconic dishes that made Lake Joseph famous.

House for Sale: This beautifully preserved Lake Joseph cottage is breathtaking. The interior of the house spans over 7,000 square feet including seven bedrooms and six bathrooms. Aside from the main house are two boathouses that sit on an impressive 29 acres of land. The home includes over 2,000 feet of lakefront property that is decorated with docks and boatlifts. Price: $12,900,000.

Summary of The Most Expensive Lakes in Canada to Buy a Second Home

RankExpensive LakePrice of Current Home for Sale
1Lake Rosseau$21,995,000
2Lake Muskoka$14,950,000
3Lake Joseph$12,900,000
Summary Table of The Most Expensive Lakes in Canada to Buy a Second Home

The photo featured at the top of this post is © AURELINA FILMS/

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About the Author

My name is Luke, and I currently a student at the University of Southern California. I love the outdoors, learning, and writing. I am also involved in several groups focusing on the entertainment industry and business administration. My favorite animals are dogs, koala bears, and dolphins.

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