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The question of where to find the cheapest PlayStation 5 (PS5) and Xbox Series S consoles in North America has been answered. Those looking to snag the latest offerings from Sony and Microsoft likely won’t find a better price than in Canada. In fact, Canada has the cheapest next-gen consoles in the Western world and is only behind a handful of Asian countries overall, according to a recent study.

The cheapest next-gen consoles outside Asia

According to a study by Paxful, the new digital edition of the PlayStation 5 costs $492.72 in Canadian dollars. That translates to just $385.95 USD and gives Canada the second-cheapest PS5 on the planet, behind only Japan by just $2.95 USD. It’s also less than half the cost of the same console in Brazil, the most expensive country on the list at $790 USD.

RankCountryRetail price in USDRetail price in CAD
7United States$399.99CA$510.69
8Hong Kong$410.33CA$523.88

The study found similar results in pricing for the Xbox Series S. The latest console from Microsoft retails for just $377.62 CAD, which equates to $295.69 USD. This puts Canada behind only Japan, Hong Kong and Macao for the cheapest Series S on the planet. Here, the most expensive console was found in Argentina, where it costs almost three times as much, at $810.77 USD.

RankCountryRetail price in USDRetail price in CAD
2Hong Kong$294.11CA$375.55
5United States$299.99CA$383.12
8United Kingdom$335.10CA$427.83

The most affordable PS5 and Xbox Series S

The same study, using income data from Numbeo, found that the low retail prices for these systems, combined with a relatively high average monthly income in Canada, also made the country one of the most affordable for picking up a new console. At a monthly income of $3,077 CAD after taxes, the average Canadian would only need to set aside 15.4% of their paycheck to pick up a PS5 Digital Edition or 11.8% to pick up an Xbox Series S.

Using the same metric, the most affordable consoles overall were found in Switzerland (7.2% of a monthly pay check for the PS5, 5.3% for Xbox) and the United States (11.3% for PS5, 8.4% for Xbox). In terms of affordability, the most expensive were once again Brazil and Argentina. The average Brazilian consumer would need to shell out 221.8% of their salary to grab a PS5, or more than double what they make in a month. Similarly, in Argentina, an Xbox Series S costs 182.9% of the average monthly income.

All tables in this post were provided by Paxful. Any currency conversion referred to in the above data was calculated by Paxful on Feb. 1.