31 March 2011 ~ 1 Comment

Edmonton – great city to live in and rent

Edmonton is finally getting it’s dues as one of the best places to live in Canada. MoneySense magazine ranks Edmonton eighth in its annual survey of 180 Canadian cities.

Downtown Edmonton - Great city to live in and rents will remain balanced

Downtown Edmonton - Great city to live in and rents will remain balanced

That’s up from 16th spot in 2010, and it puts Alberta’s capital city well ahead of more glamorous ‘burgs such as Montreal (123rd), Toronto (88th) Vancouver (29th) and Calgary (16th).

From MoneySense magazine, “Alberta’s capital cracks the top ten this year, jumping 7 spots thanks to low taxes, high levels of discretionary income and an extensive public transit system. With temperatures sinking lower than 0 degrees C 178 days a year, weather may pose a problem for some. Higher than average housing prices and crime rates also hold the city back from a better score, but scant precipitation, low pollution levels and high household incomes from the recent oil boom balance this out to make Edmonton a great place to live.”

The one thing that stands out from the report is the higher than average housing prices. If one compares local income levels to house prices – as RBC Economics does in its regular housing affordability measures – Edmonton is among the most affordable major urban markets in Canada. In fact, straight from the latest report in February 2011, “Alberta is officially the most affordable in Canada.” The latest RBC housing affordability measure is 31.0 for Edmonton.

Rent Edmonton

How does this translate into apartments in Edmonton and houses for rent in Edmonton and affordability? An average two-bedroom apartment will rent in Edmonton for around $1,000.  As vacancies drop to around 3.5 percent for rentals in Edmonton this year, expect rents to increase by $20 – $30 for Edmonton rental units.

One Response to “Edmonton – great city to live in and rent”

  1. mano.sonia20 23 May 2011 at 5:42 am Permalink

    its a great article , i impresses to read this,Edmonton – great city to live in and rent its mean it is the great city fir the rent

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