This Alberta city has home insurance prices over TRIPLE the national average
Monthly home insurance costs vary across the country, and many areas in Alberta are seeing rates increase due to the rising risk of wildfires.
A new report from Wahi, a leading digital real estate platform, and MyChoice, an insurance-rate aggregator, revealed how wildfires are affecting Canadian housing affordability.
With wildfires continuing to increase in frequency and intensity across the country, the latest report from Wahi and MyChoice analyzes real estate and insurance data across the more than 20 local Canadian housing markets where these incidents are anticipated to be most severe.
Seven Alberta cities made the list, with one city clocking in at more than three times the national average for annual home insurance premiums.
Medicine Hat landed on the list with the highest average annual home insurance premium, at $3,875. The city’s home insurance inflation percentage came in at 24 per cent, and homeowners see their monthly insurance payment work out to be 19 per cent of a typical mortgage, as of May 2025.
Its wildfire risk score was also on the higher end, coming in with an eight, tying with Lethbridge for the highest in the province.
Wahi Realty Inc., Brokerage & mychoice.ca
“This report demonstrates the myriad forces affecting housing affordability in Canada beyond supply and demand, such as carrying costs,” says Wahi Economist Ryan McLaughlin. “It’s also another example of how data empowers homebuyers to make informed decisions, budget, and manage expectations.”