These are the best and worst Edmonton neighbourhoods to buy real estate
Overall, the City of Edmonton may not be the best place to buy real estate. But if you’re looking for a home in the city, some neighbourhoods offer more value than others.
MoneySense’s Where to Buy Real Estate in Canada 2023 report has determined the best and worst Edmonton neighbourhoods to buy property in.
Created in partnership with Zoocasa, neighbourhoods across the city were ranked on several factors, including the benchmark home price as of December 31, 2022; one, three, and five-year prices growth; and the percentage of households with children.
Each neighbourhood also received a score out of five based on its value, economics, and accessibility. With five being the highest, the scores represent value for money, levels of income and education, and ease of travel by foot, bike, and public transit, respectively.
Edmonton’s top three neighbourhoods
Terwillegar South
Located in the southwest corner of Edmonton, Terwillegar South is bounded on the west by Terwillegar Drive and on the east by Rabbit Hill Road. It’s one of seven neighbourhoods within Terwillegar Heights.
With a benchmark price of $339,368 at the end of 2022, it is the top Edmonton neighbourhood on the list this year. In December 2022, home prices were 7.4% higher than one year before but 4.7% lower than three years earlier and 5.3% less than five years earlier. That translates to a value score of five out of five and a neighbourhood economics score of five out of five.
Terwillegar South features primarily single-family detached homes, but you’ll also find multi-family housing and condos. About 51% of households have children, and the area has a number of good schools. Terwillegar South’s subdivision model also makes it somewhat walkable — with a neighbourhood accessibility score of 2.2 out of five.
Terwillegar Towne
Located right next to the top community is the neighbourhood of Terwillegar Towne. In December 2022, homes sold for an average price of $511,503. At the end of the year, home values were 12.6% higher than they were one year earlier, 15.2% higher than three years earlier, and 8.4% higher than five years previous. That gives the area a value score of 3.6 out of five and a neighbourhood economics score of five out of five.
Around 51% of households in the area have kids. The area is similar to Terwillegar South regarding walkability, scoring 2.2 out of five in the neighbourhood accessibility category.
The Hamptons
The Hamptons is a quiet, well-maintained and relatively new neighbourhood in west Edmonton. However, house prices are on the rise in this community; in December 2022, the benchmark price of a home was $494,562 — 15.4% higher than it was one year earlier, 25.1% higher than three years earlier, and 22.2% higher than five years ago. The Hamptons made the top three because of its strong value score of 3.9 and near-perfect neighbourhood economics score of 4.7 out of five.
The area is also a favourite among families, with 52% of households having kids. However, the area is less accessible than the other top communities on the list, with an accessibility score of 1.8 out of five.
Other neighbourhoods to break into the top 10 include Sherwood Park, Haddow, Secord, Jamieson Place, and Macewan.
MoneySense
When it came to the worst neighbourhoods in Edmonton to buy real estate, MoneySense ranked Lago Lindo as the worst, followed by Westboro, Charlesworth, and Wye Road Gardens.
MoneySense
So, there you have it. If you are in the market for a new home in Edmonton, we sure hope you pour through the ranking of these neighbourhoods before you dip your toe in the city’s real estate market.
With files from Laine Mitchell
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