Edmonton house prices are pretty great compared to these US cities
It’s no secret that house prices in Edmonton have been on the rise lately, but the good news is that they’re much more affordable than in other cities in North America.
A new report from the real estate company Zoocasa shows that the city is one of the most affordable on the continent.
Their findings show that Edmonton has a relatively high median household income of $62,222, making the median home price of $294,815 within reach for many buyers.
According to Zoocasa, Edmonton is the third most affordable market on the continent, only beaten out by two Canadian cities: Saskatoon, Saskatchewan, and Saint John, New Brunswick.
Zoocasa
While housing costs are exploding in Calgary, our neighbours to the south have the highest median household income in Canada, at $64,444. This puts the median home price of $340,741 within reach for many buyers.
Canada generally seems to be doing well in comparison to households in the United States.
The report found eight cities where median-income earners can afford the current median home price, and five of them are located in Canada; Calgary, Winnipeg, Edmonton, Saskatoon, and Saint John all made it onto the list.
Oklahoma City is the most affordable city in the States, with average home prices hovering around $250,000 and the average income sitting at $64,251.
Zoocasa
Despite many Canadian cities making it onto the affordable housing list, the country also suffers from a noticeable income disparity. Canadians generally make less money than Americans and have a wider gap to close when buying houses.
In 2022, the average home price in Canada was still over $30,000 higher than in the US, even though Canadians had a median income that was $20,000 lower.
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