Thinking about moving to Alberta, but not sure where you can afford to live? Let’s look at the province’s wealthiest cities and how it stacks up with the housing costs.
Calgary’s most expensive neighbourhoods, including Hillhurst and Altadore, grew with the influx of oil and gas money. But Calgary is far from the only wealthy spot in Alberta. Places like Fort McMurray and Canmore have their own appeal—and their own price tags.
Alberta’s Richest Cities: A Quick Look
- Calgary median income hits ~$115,000, making it one of the richest cities in Canada
- Edmonton offers big city living with ~$95,000 median income and affordable homes in the $400s–$500s
- Fort McMurray has the highest paychecks in Alberta (median income ~$150,000+) thanks to oil jobs
- St. Albert families earn around $130,000 median income—one of the most prosperous small cities
- Canmore median income is ~$105,000, but homes cost $1.1–$1.2 million on average
- Airdrie households earn about $110,000 median income in this fast-growing city
- Sherwood Park stands out for its median income over $140,000
- Leduc, despite being a mid-sized city, matches Calgary’s wealth with a median income of around $117,000
Calgary: Big City Money, Big City Prices
Calgary is Alberta’s main money center. Oil, gas, and banking jobs drive the economic success in Calgary.
The Numbers:
- Median household income: ~$115,000
- Average home price: Mid-$600s to $700s
- Fancy areas like Altadore: $1.2 million and up
With 1.3 million people, Calgary offers big-city perks. Great parks, public transit, and the world-famous Calgary Stampede make this business-focused city a dynamic and fun place to live in.
The income-to-housing ratio works pretty well here, with Calgary homes averaging in the mid-$600s. Affordability exists, too, with condos listing from the $100s. However, neighbourhoods like Eagle Ridge and Upper Mount Royal have average home prices of more than $3 million.
Edmonton: Best Bang for Your Buck
Homebuyers and prospective residents often compare Calgary and Edmonton, Alberta’s two largest cities. Edmonton, the provincial capital, isn’t far behind Calgary in terms of job opportunities. Oil, gas, and healthcare create many well-paying positions.
And home prices are considerably lower than in its southern counterpart.
The Numbers:
- Median household income: ~$95,000
- Average home price: Mid-$400s to $500s
- Townhouses: Often in the $300s
Edmonton’s lower home prices stand out among large Canadian cities.
Edmonton is called “Canada’s Festival City” because there’s always something fun happening. About one million people live here, and many work in schools, tech companies, and factories.
This might be Alberta’s best deal—solid pay with affordable homes.
Fort McMurray: Highest Pay, Ranging Housing Market
The oil sands make Fort McMurray one of Alberta’s richest places for workers.
The Numbers:
- Median household income: ~$150,000+ (highest in Alberta!)
- Home prices: Mid-$100s up to $1.2 million (depends on oil prices)
High-paying petroleum jobs bring skilled workers from across Canada. But here’s the catch—home prices go up and down with oil prices. That makes for an exciting but sometimes stressful housing market.
Fort McMurray is home to cultural attractions like the Oil Sands Discovery Centre and recreational attractions around the Athabasca and Clearwater rivers. With the highest median income in Alberta, you can afford the price swings better than most places.
St. Albert: Small City, Big Incomes
Just outside Edmonton, St. Albert stands out as one of Alberta’s richest spots.
The Numbers:
- Median household income: ~$130,000 (second highest!)
- Single homes: $400s to $500s and up
- Townhouses: Upper $200s to $300s
Over 100 parks and playgrounds, sports centres, and convenient schools make daily life easy.
That $130,000 median income goes far when homes start in the $400s.
Canmore: Mountain Views, Mountain Prices
Canmore is one of the best small towns in Alberta. It sits right in the Rocky Mountains, with views that will blow you away.
The Numbers:
- Median household income: ~$105,000
- Average home price: $1.1–$1.2 million
- Pricier neighbourhoods: $2–$5 million and up
Only about 17,000 people live here, so it feels like a real community. Most jobs come from tourism and outdoor sports—hotels, tour guides, and park services.
Airdrie: Fast Growing, Good Value
Airdrie, one of the top towns near Calgary, is one of Canada’s fastest-growing cities. Its population of 85,000 is expected to hit 130,000 by 2033.
The Numbers:
- Median household income: ~$110,000
- Average home price: $500s to $600s
- Just 30 minutes from Calgary
Homes in Airdrie are on par with average prices in nearby Calgary, though the highest-end homes are priced much lower (~$2 million). Airdrie’s condos offer affordable options ranging from $200,000 to $450,000.
Plenty of parks, sports facilities, and community events make living here fun.
Sherwood Park: Suburban Wealth
Sherwood Park offers the good life with fancy neighbourhoods and high quality living.
The Numbers:
- Strathcona County median household income: ~$144,000
- Percent of Strathcona County population that lives in Sherwood Park: About 72.8%
- Beautiful homes: $500s to $600s up through $1.5–$3.5 million
- Edmonton just minutes away for big-city shopping and festivals
You get suburban streets day to day, but city access when you need it. Great parks, sports centers, and local events bring neighbours together.
Leduc: Hidden Gem Growing Fast
Half an hour south of Edmonton, Leduc benefits from being close to Alberta’s oil and gas action.
The Numbers:
- Median household income: ~$117,000
- Population: About 34,000 (friendly mid-sized city feel)
- Single-family homes: Mid-$300s and $400s
- Townhomes: Mid-$200s and up
Home values keep climbing as more people discover this gem. Amenities like the Leduc Recreation Centre make living here a pleasure. Leduc gives you more than just a place to live—it offers a chance to thrive in a growing community.
Alberta’s Wealthiest Cities Await
Alberta offers a diverse range of cities where wealth and lifestyle intersect, catering to different needs and budgets. Whether you’re seeking the energy-driven prosperity of Fort McMurray, the cosmopolitan life of Calgary, or the serene mountain atmosphere of Canmore, Alberta’s richest cities showcase both opportunity and variety.
Many are also among the best places to live in Alberta; there’s a reason so many people move to the province every year. Whether it’s good jobs, nice communities, or more home for your money, Alberta delivers.
If you’re interested in Alberta real estate, contact Justin Havre Real Estate Team with eXp Realty with Calgary Homes at (403) 217-0003 to get in touch with a local real estate agent who can help you find your Alberta dream home today.
