Access to affordable, quality office space
Not only is it affordable to live in Alberta, but commercial real estate is also very reasonably priced. Alberta’s major cities have lots of high-quality commercial space available and the lowest downtown office Class A rental rates in the country.
Commercial Real Estate Net Rental Rates Across Canada
Low cost of living
In Alberta, there is no provincial sales tax and a low personal income tax. While residents of every other province pay up to 10%, Albertans only pay the 5% Goods and Services Tax (GST) paid by all Canadians.
The province provides health coverage — giving Albertans access to hospitals, clinics, physicians, and a variety of other services. Albertans also have access to a quality public school system with international rankings (PISA, 2018).
On average, Albertans enjoy a higher family income than in other parts of the country. In 2019, the median household income in Alberta was $99,400 after tax — compared to the national median $86,700.
Alberta is one of the few places in Canada where it is affordable to own a house in a major city. Edmonton and Calgary have the most affordable housing markets of any major Canadian city. The average home price is $404,000 and $495,000 for a single-family detached home in Edmonton and Calgary respectively.
Unlike other Canadian cities which have seen home prices surge, Edmonton and Calgary’s are experiencing steady growth — indicating a balanced housing market.
Current Benchmark Resale Housing Prices Across Canada
Median after-tax household income in Alberta — the highest in the country
Share of household income needed to cover home ownership costs in Edmonton
Average single-detached home price in Edmonton