This spot in Alberta named one of the best cities to get rich in Canada

Jan 25 2023, 5:51 pm

It may get windy and there may be rattlesnakes, but a city in southern Alberta has just been named one of the best cities in Canada to get rich in.

So if you are looking to grow your bank account, pack your bags and head on down to the City of Lethbridge!

The list, created by Yore Oyster Inc, is “centred around small cities that are attracting more people and businesses,” using data that included Statistics Canada, CREA, the Government of Canada, and each city’s official website.

The list includes 20 small cities which were ranked according to three factors: median household income after taxes, monthly cost of living, and GDP per capita.

Using that formula, Lethbridge landed at #13 on the list thanks to it being “the hub of the agricultural region of southern Alberta with GDP growth that will outperform the wider provincial economy.”

Other things that helped land YQL on the list were its low unemployment rate, the housing market remaining stable throughout the economic downturn, and tons of construction projects planned or underway over the coming years.

“These indicators support our continued claim to balanced growth and economic stability,” Yore Oyster stated.

The median household income after taxes rounded out to $65,351, the cost of living (monthly) came to $2,273 and the GDP per capita was $52,243.

Lethbridge is no stranger to making some best-of lists, being ranked as the most affordable for young people in Canada just last year.

If you are itching to check out all the cities named, you can find the list here.

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