The Allure of Alberta
Updated: Oct 10, 2022
Buying a house is an exciting step and a milestone that many people look forward to. Unfortunately, the cost of housing, increasing interest rates, inflation and the average wage is slowly making that step harder to attain.
For those who dream of owning their own house, there is good news. Alberta is among the best in affordability when it comes to the cost of living.
Alberta has one of the the highest average incomes among Canadian provinces. It is only lower compared to those in Northern regions where the cost of living is much higher.*
The average price of a single, detached home in the capital city, Edmonton, in August 2022 was $469,757. Compare that to the greater Toronto area which was $1,379,700 or Vancouver at $1,954,100.**
Albertans also have lower taxes with no PST, no payroll tax or health premiums.
Alberta is known as an oil and gas province but has seen great diversification with huge investment in the technology sector, film and television production, as well as growth in agriculture. Because of this significant growth, it is a challenge to fill all the jobs that are being created according to Premier Jason Kenney.****
It would seem that people are catching onto the allure of Alberta based on the in- migration statistics. Since January of 2022, Alberta has welcomed 15,208 people and over the last four quarters 23,132 have moved to the province.*****
If you are someone who is looking for a great standard of living, affordability and a beautiful,diverse province, perhaps Alberta is somewhere to consider.
Photo by Justin Hu on Unsplash
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