Edmonton’s Real Estate Soars: Low Prices Meet High Incomes
Edmonton is gaining traction as an excellent location for property investment within Canada. The MoneySense yearly ranking
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The report positioned Alberta’s capital as number five out of 44 markets across Canada, marking a notable rise since 2024.
“Given that Edmonton was ranked 17th the prior year, this represents significant progress,” notes Chivon Sterling, a realtor with eXp Realty in Edmonton.
What is driving this increase is that we boast some of the lowest prices among major cities, coupled with the highest average incomes.
In the study, the top-ranking cities included Fredericton, New Brunswick, taking the first position; followed by Calgary in second place; then Saint John, New Brunswick, securing third place; with Greater Moncton from New Brunswick also making an appearance. A contributing factor for why maritime cities performed well in this year’s assessment was their comparatively low baseline housing prices as of late 2024.
All three properties were priced under $400,000, which is approximately $360,000 to $400,000 lower than the national benchmark price of around $719,000.
In the top five, Calgary boasted the highest price at approximately $577,000, whereas Edmonton’s benchmark stood around $391,000.
However, it didn’t experience the same level of price increases as the other major five cities over one-, three-, and five-year spans. Over five years, Edmonton saw a price increase of 15 percent compared to 72 percent for Fredericton and 71 percent for Calgary.
Similar to Calgary, Edmonton boasts one of the highest median incomes post-tax at $84,000 annually. Calgary leads with an even higher figure of $87,000 per year. The city of Guelph ranks just above both, placing 23rd overall with a median income of $85,000.
“We’re not seeking out either the least expensive market or the priciest one; our aim is to find properties offering the greatest value,” explains Lisa Hannam, who serves as the editor-in-chief at MoneySense.
She also mentions that the study incorporates additional measures such as walkability, availability of facilities, security, and well-being.
“If you possess the capability to relocate anywhere within Canada, which might not apply to everyone, it can be beneficial to comprehend where you could get the most bang for your buck,” Hannam notes regarding the study’s intent.
“It can also offer some insight into how your location compares to other neighborhoods.” In the study examining various areas within Edmonton, the western neighborhood of Secord was deemed the most desirable, boasting a benchmark price of around $477,000.
“It wouldn’t exactly be labeled as budget-friendly.” However, Sterling notes that the area west of the Anthony Henday freeway and south of the Yellowhead highway offers numerous housing choices. These range from townhouses priced around $375,000 to expansive lot single-family residences with lake views starting at approximately $800,000.
“What’s also fueling this growth is the development of a new recreation center, much like the one in Terwillegar,” Sterling explains, drawing parallels between Secord and one of Edmonton’s most desirable neighborhoods.
Additionally, Secord mentions that there are no “fixer-upper” homes available.
It’s a quite recently developed neighborhood where most of the houses are either newly built or have been constructed not long ago.
Similar neighborhoods such as Parkdale, which ranked 14th in the study, offer more budget-friendly options at around $244,000 for their benchmark price.
That’s a more mature neighborhood that has gained popularity,” Sterling explains. “This trend is primarily because developers have seized the chance to demolish smaller homes on large plots and construct new, more attractive buildings, frequently multifamily units.
That said, plenty of first-time buyers are looking in the community near Commonwealth Stadium that has long been a lower income neighbourhood.
In general, the competition for houses, regardless of the neighborhood, is intense, she states.
“Edmonton’s market is highly competitive,” Sterling states.
You can start your day by viewing an appealing and affordably priced list of properties with your morning coffee, only to find out it has been sold by evening.