The most affordable places to live close to Calgary
Housing prices are expected to stabilize in 2023 but the prices still have some people looking for affordable options outside of Calgary.
The 2023 forecast from the Calgary Real Estate Board also included the final numbers for the areas surrounding the city.
So here are the most affordable towns and cities to live in around Calgary.
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The benchmark price in Airdrie went up 20% in 2022. However, the price did trend down at the end of the year, finishing at $489,550 which is more affordable than Calgary which came in at $529,333.
One of the gems of southern Alberta, Cochrane also saw its benchmark price go up in 2022, closing at just over $500,000. If you want to head closer to the mountains you better do it quickly. 2021 saw record sales for the town, while 2022 was only down 8%. Still, it is more affordable than Calgary.
The benchmark price in High River closed over $100,000 less than Calgary even after gains of almost 15% in 2022. There are concerns about the inventory but according to the report “higher lending rates are creating more cautiousness in the market, which will likely prevent the upward price pressure in the market.”
Strathmore is the most affordable area around Calgary with the benchmark coming in under $400,000. The report expects rates to stay relatively low again for 2023 with high lending rates easing price gains that could come with limited inventory.
Sorry to get your hopes up. Affordable and Canmore don’t go together very well, but it’s nice to dream. The benchmark price of $839,175 makes it the clear winner for the most expensive in the area. It gets even more expensive when looking for a detached house with the average price sitting at $1.2 million. But it’s really nice and gorgeous there so if you can afford it, why not?