Edmonton, Alberta
Benchmark housing price: $392,700
Population: 1,010,899
In 2020, Edmonton’s population officially crossed the million-person mark, making it the northernmost city of that population in North America. It now sits at 1.14 million residents—more than 10 per cent of whom arrived since 2021—and it’s about to grow even more as the city prepares for another 100,000 new arrivals by 2027. One of the biggest reasons? Cheap housing.
Real estate prices in Alberta’s capital remain well below the national average, with a benchmark sale price of $392,700. Affordable detached homes in the city’s deep southwest are magnets for young families, while those without kids tend to be drawn to the condo market in livelier areas like downtown and Wîhkwêntôwin. And recent zoning changes mean that just about any residential area can soon be used for denser blocks of duplexes, townhouses and apartment buildings.
The neighbourhoods of Starling and Trumpeter are newer but amenity-rich areas in the city’s northwest, where the housing stock includes single-family homes, semis and duplex-style townhomes. The entry point of a home here is $260,000, with an average sale price of $445,000. McConachie is another hot spot, a pocket of the city’s northeast that’s being revamped with new apartment-style condos and single-family homes. A new-build condo in McConachie starts at just $140,000, while a single-family home has an average of $445,000.
Another reason the city has become so attractive is its economy, which is outpacing national trends and upending expectations. Edmonton has long been a boom-and-bust town whose fortunes were determined by its proximity to the oil sands, but these days its economy is more diverse than ever, thanks to its prominence in cutting-edge technologies like video games (BioWare) and artificial intelligence (the Alberta Machine Intelligence Institute). Even its energy production is changing with the times: in 2025, Imperial Oil will open a $720-million renewable-diesel factory.
People may move to Edmonton for economic reasons, but they tend to stay for the city’s character. Situated up above the 53rd parallel, Edmonton’s relative isolation has led to a do-it-ourselves civic culture, with patriotic pro sports teams and a bumper crop of festivals, including the largest Fringe in North America. Plus, when it gets too cold, there’s a pretty big mall to hide out in.
Recently Listed
10916 72 Avenue NW
Price tag: $464,900
The place: A four-bedroom half-duplex near the University of Alberta. The finished basement has a separate entrance and a kitchen, making it an ideal rental suite.
13416 91 Street NW
Price tag: $369,999
The place: A three-bedroom bungalow in the Glengarry Park neighbourhood with a separate unit in the basement and a double detached garage
