This is something I look into every year, and unfortunately, the areas with high COL are almost invariably the places with the best prospects. Vancouver, Toronto and Montreal dominate the IT market to a level that’s not even funny if you live somewhere else.

There are some places with slightly lower costs of living like Burnaby and Surrey near Vancouver or Mississauga and the GTA near Toronto, but I can’t emphasize the word slightly enough. You could also try Calgary and Edmonton, but while I’m not an economist, the IT market doesn’t seem to be what it used to be and they both still feel like they’re primed for another downturn.

Then you’ve also got the option of capitals like Quebec City, Victoria, and from what I understand Winnipeg, although I’ve never checked into Winnipeg myself. I’d avoid Saskatchewan as Saskatoon and Regina as they have generally small IT markets and I’ve never seen more than a dozen postings at any one time. When I think hot, I’m thinking of a market that has 50-60.

You could also look into the Maritimes. I’ve heard they’re actually a fairly fast growing city (especially Halifax). However, I also heard that 5 years ago and haven’t looked since, so YMMV.

All this being said, you could also consider smaller cities that have way better costs of living, and just be prepared to move. I’ve worked in Northern Alberta for the last decade, and while being this far north has its downsides, I’ve also gotten a ton of opportunities to do cool and interesting work with relatively little competition because no one wants to live up here. Rent is also dirt cheap because again, no one wants to live here, and salaries are a bit higher because since no one wants to live here they have to pay a bit extra to keep people around. As a bonus, there’s plenty of time to study for your CCIE when it’s -40c outside with no sun!

Hope that helps.