Are you seeking an affordable yet thriving city to relocate to? Alberta has become the top province of choice for those relocating.

With its economical housing prices and profitable investment opportunities, Alberta is considered one of the best places to buy real estate. 

The average house price in this province is 447,500 Canadian dollars, expected to rise to $460,500 next year. However, with so many beautiful cities in Alberta, how do you know which is the right fit for you?

You’ve come to the right place! This article will discuss the five best cities to live in Alberta with their unique features. Continue reading to explore everything about Alberta’s real estate market and ideal cities. 

Why Should You Buy a House in Alberta?

Do you know more than 55% of people relocated to Alberta in 2022? This amounts to over 32,000 people worldwide that choose this central prairie province as their next residence. The reason behind this huge migration lies in Alberta real estate, which has flourished over the last year. 

The cities are affordable and accompanied by recreational sites, and rocky mountains. Besides this, there are additional reasons why you should consider buying a house in Alberta: 

• It holds some of the most popular and stunning natural landscapes.
• It has the highest median household income with high wages. 
• You’ll find some of the best places to invest in Alberta. 
• Alberta is home to the sunniest city in the country. 
• The employment ratio is higher than in other countries. 

Factors to Consider When Investing in Alberta Real Estate 

From the location, property type, and average rental price to the potential for jobs, these factors will help you make an informed decision when looking for the best places to invest in Alberta. Before you decide to relocate to Alberta, there are a few things that you should consider about each city you look at. Let’s have a look at them one by one below:

1- Population Metrics

When buying a house in Alberta, its population metrics are vital to your profit and gain. Population metrics are important when looking to invest in an area because they provide insights into the potential market size, demand for goods and services, and overall economic activity in a region. This Canadian province holds an advantage to buyers as it has a population of over 4.371 million. This makes it the third-largest province in Canada due to high population growth. 

These population dynamics show why it is one of the best places to invest in Alberta. Moreover, it holds some of the countries best recreational landscapes ensuring residents enjoy a high quality of life. You’ll find attractive landmarks in this area, from Banff National Park, Canmore, Jasper and other awe-inspiring sites. 

2-  Strong Rental Market

For property investors, Alberta real estate market is thriving, providing profitable deals to buyers and residential property sellers. The average rental apartment price started at a reasonable rate of $1,274. Moreover, the number of home sales showed a record-high surge in the previous year and is expected to increase to 82,000 in 2024.

3- Employment Ratio

The flourishing job market is another reason to consider buying a property in Alberta. Besides being the fastest-growing central prairie area, it has an annual job growth rate of 8.4%. The province has many young workers, from administrative assistants to IT professionals. 

4- Stable Economy

The strong economy is an important factor that makes this province among the best places to invest in Alberta. Out of all the things that keep its economy stable, the major one is its regulatory environment and natural resources. Besides this, competitive taxes and the energy sector contribute to this area’s $339.3B billion GDP. 

5- Natural Reserves

Alberta has booming natural resources, including renewable energy reserves and fossil fuels. The province holds great deposits of coal, oil, natural gas, sand, and other mineral deposits. Besides this, plenty of tenures and electricity sources add to Alberta’s export and trading market. 

Best Places to Invest in Alberta

Alberta has been a center of attention for many real estate investors for its strong economy, affordable housing, and higher wages. Also, it’s one of the best destinations to visit for nature-loving tourists. Planning to invest in Alberta? If so, now is the best time to buy a property, as the housing prices in Alberta are expected to increase by 2024. 

Let’s tour the 5 best cities to buy property in Alberta.

1. Calgary

Calgary is the largest and safest place to live in Alberta. In the past two years, there has been a massive increase in real estate sales in Calgary. However, luckily the average house price has remained moderate compared to other Canadian cities.

So, if you’re looking to invest in a big city, Calgary is an ideal choice. Calgarians enjoy several festivals, various parks, and hundreds of restaurants, bars, coffee shops, and clubs.

What Is There to Visit in Calgary? 

Visit the Calgary Zoo: Visitors can explore hundreds of exotic species of animals in the Calgary Zoo. 

Attend the Calgary Stampede Event: Calgary’s most iconic event is it’s annual rodeo, exhibition, and grand festival every July. People come from all over the world to attend.

Explore the Calgary Tower: Visitors can enjoy the mesmerizing 360-degree view of the whole city from the Calgary Tower. 

What is the Average House Price in Calgary? 

About $528,700

2. Edmonton

Edmonton is Alberta’s capital city, marked by rapid growth and development. Typically, Edmonton is famous for its arts and culture and several events and festivals throughout the year. 

Moreover, this city is known for its strong ties to energy and healthcare, technology, and thus known as one of the best cities to buy property in Alberta.

What is there to Visit in Edmonton?

The Royal Alberta Museum: It’s one of the largest museums in Western Canada that carries guests through the history of Alberta through oil sands history and paleontology exhibits.  

West Edmonton Mall: This is one of the biggest malls in North America that provides a wide range of shopping, dining, and entertainment opportunities in the form of a water park, a mini-golf course, an ice rink, etc. 

EIK Island National Park: This national park offers a wide range of wildlife, hiking, camping, and biking. 

What is the Average House Price in Edmonton? 

Almost $410,000

3. Canmore

Canmore is a great place for nature admirers with enthralling rocky mountains and numerous lakes. Unlike other cities in Alberta, Canmore is a bit more expensive. But, as it is the only resort town in Alberta, it’s a sought after location for many real estate investors. 

What is There to Visit in Canmore? 

Rocky Mountains and Lakes: The rocky mountains in Canmore offer different hiking trails to visitors, i.e., the Grassi Lakes, Grotto Canyon, and Ha Ling Peak Trail. Canmore rivers and lakes also provide opportunities to fish and raft. 

Canmore Nordic Centre: The Nordic Centre offers visitors over 50 km of groomed mountain biking and cross-country skiing trails.

What is the Average House Price in Canmore? 

About $851,000

4. Banff

Banff is a heavenly village in Alberta, considered the one of the most idealistic places  to vacation and is among the best cities to live in Alberta – If you can find a home here. The turquoise-coloured lakes are surrounded by glaciers providing spectacular views and never ending outdoor activities. 

Thus, if you meet eligibility requirements and can find a property, Lake Louise would be the dream location to invest and buy property.

What is There to Visit in Banff? 

Lake Louise Ski Resort: This place is one of the most well-known ski spots in the world . Visitors can ski / snowboard,  snowshoe, skate, and cross-country ski.

Scenic Gondola: The top of Mt. Whitehorn allows visitors to enjoy the remarkable views of the mighty mountains.

What is the Average House Price in Banff? 

About $1,500,000

5. Leduc

Leduc is among the best places to buy real estate in Alberta, often gaining at the attention of buyers and developers. Despite offering affordable houses, Leduc also has many sustainably built homes. 

What is there to Visit in Leduc? 

Telford Lake: This destination provides almost 75km of walking and biking paths. 

Shalom Ski Park: In Shalom Ski Park, you can water skion a private man-made lake . 

What is the Average House Price in Leduc?

Almost $325,000 

Invest in Alberta with Dolce Real Estate

Alberta is bursting with opportunities, and real estate investors are eager to find a piece of it. But finding the best place to invest and making a well planned, strategic investment are two different and challenging things. Our a team of realtors at Dolce Real Estate can guide you through the process.

We have a network of vetted real estate professionals throughout Alberta that can guide you seamlessly through the process. From picking the ideal place to moving in, we’ll be here for you.

Get in touch with one of our real estate advisors and enjoy find your perfect investment property or new home in Alberta.