Your heart will lead you to your perfect home in Â鶹´«Ã½Ó³», with so many neighbourhoods and styles of homes to choose from.
From sky-high condos to lake community homes, centuries-old houses by the river to modern inner-city infills, you can build a vibrant life in a home you love — in a city ranked among the best places to live in the world and in North America.
Affordability of Â鶹´«Ã½Ó³» homes
Compared to other big cities across Canada and the world, the cost of living is lower in Â鶹´«Ã½Ó³». In a global index comparing cost of living among major cities, Â鶹´«Ã½Ó³» has the lowest cost of living compared to the five Canadian cities – Ottawa, Montreal, Toronto and Vancouver – included in the index (Mercer 2023 Cost of Living City Ranking).
Â鶹´«Ã½Ó³» affordability
Average rental prices in Â鶹´«Ã½Ó³»
Â鶹´«Ã½Ó³» is still one of the most affordable rental markets in Canada. Â鶹´«Ã½Ó³» remains more affordable than Vancouver or Toronto with the average monthly rental price of $1,600 for a one-bedroom in Â鶹´«Ã½Ó³», as of January 2025.
Home purchase prices in Â鶹´«Ã½Ó³»
You can purchase your dream home in Â鶹´«Ã½Ó³», because your money goes further here. Â鶹´«Ã½Ó³» has the second-lowest average home purchase price compared to other major Canadian cities, making it a great city for young professionals and families to purchase a first home.
The benchmark home purchase price in Â鶹´«Ã½Ó³» as of May 2024 was $577,100. The purchase price for a home in Vancouver or Toronto was more than double the price of a home in Â鶹´«Ã½Ó³».
Ready to take the next step? Jump to our Buying a home in Â鶹´«Ã½Ó³» section.
Did you know?
Canadian experts recommend spending no more than 30 per cent of your income on housing costs: either renting or mortgage payments.
Choose your community in Â鶹´«Ã½Ó³»
Before you look to buy or rent a home in Â鶹´«Ã½Ó³», you may want to consider which community makes the most sense for your lifestyle! The city offers a wide variety of housing choices at different price points, and each community has its own unique vibe.
Understanding Â鶹´«Ã½Ó³»â€™s four quadrants
The four quadrants in Â鶹´«Ã½Ó³» each have something unique to offer. It may help to narrow down the quadrant you and your family are interested in, before selecting your top communities of choice.
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Northwest Â鶹´«Ã½Ó³»:
The northwest (NW) features homes in the rolling foothills with views of the Canadian Rocky Mountains, and proximity to the University of Â鶹´«Ã½Ó³» and the Southern Alberta Institute of Technology (SAIT) . The area is popular for students and adventure seekers eager to head to the mountains at a moment’s notice or take a long walk in Nose Hill Park. A community not-only for outdoor enthusiasts, the Light Rapid Transit (LRT) Red Line connects NW communities from Tuscany to downtown. The quadrant is also home to Kensington, a youthful, river-side neighbourhood with eclectic shops, board game cafes and a vibrant culinary scene.
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Southwest Â鶹´«Ã½Ó³»:
The southwest (SW) is known to young professionals and families for its vibrant inner-city and downtown neighbourhoods, luxurious developments and master-planned communities in the suburbs. Nature lovers relish in the abundance of parks for year-round exploring, including Weaselhead Flats, North and South Glenmore Park and Fish Creek Provincial Park. Foodies jump along 17 Ave and devour nationally-acclaimed dishes, and families enjoy endless fun at Heritage Park, Spruce Meadows and other amenities. The LRT Red Line connects communities in the south of Â鶹´«Ã½Ó³» through the downtown core and farther north.
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Northeast Â鶹´«Ã½Ó³»:
The northeast (NE) is an affordable quadrant for first-time homeowners with proximity to the Â鶹´«Ã½Ó³» International Airport and shopping centres including Sunridge Mall and Crossiron Mills. Adventures for the whole family can be had at the Â鶹´«Ã½Ó³» Zoo and Telus Spark Science Centre, both accessible along the LRT Blue line. The quadrant also features the city’s industrial area and many temples, churches, cultural centres, farmers markets and international food grocers.
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Southeast Â鶹´«Ã½Ó³»:
The southeast (SE) is a popular quadrant for families, featuring many of Â鶹´«Ã½Ó³»â€™s lake communities and neighbourhoods along the ridge bordering the Bow River. Many students and young professionals call Inglewood and East Village home, while families soak up the sun in the exclusive man-made lake communities open for activities year-round. Outdoor enthusiasts relish in the pathways throughout Fish Creek Provincial Park, and many workers enjoy the proximity to Â鶹´«Ã½Ó³»â€™s industrial area and prairies. This largely suburban quadrant has a variety of housing options, and continues to expand with newer communities built around amenities – including libraries, multi-purpose sports facilities, the Â鶹´«Ã½Ó³» Soccer Centre, dining experiences and more.
Renting in Â鶹´«Ã½Ó³»
Whether you’re looking for a condo, townhome or home to rent, there are a few ways to search rental properties in Â鶹´«Ã½Ó³».
Local tip:
and are the most popular sites for finding a rental, however locals may also recommend checking Facebook Marketplace and connecting directly with buildings you’re interested in.
Alberta has a Residential Tenancies Act that sets rights and responsibilities that apply to tenants. It’s helpful to be familiar with the Act to prevent misunderstandings and potential disagreements.
What to consider when renting a home in Â鶹´«Ã½Ó³»:
Rental Agreement
Before choosing a home, understand which utilities are included (electrical, water, wifi), which utilities need to be set up in your name, if pets are allowed, if there are rental increase provisions, if you are allowed to make minor alterations to the space (painting, hanging pictures, etc.), if parking is included and if it has an additional cost, how to access mail, how garbage, compost and recycling is dealt with, who is responsible for repairs and maintenance, and who is responsible for property taxes.
Terms
Make sure you understand your rental terms. Consider your term length, security deposit and what it takes to get your deposit back.
Insurance
Once you secure your rental, get Tenant Insurance to insure your items. S