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Alberta Mortgage Affordability Calculator (Updated August 2026)

Updated

Maximum Home Price

How much house can you afford in Alberta?

Alberta’s provincial MLS HPI composite benchmark was $508,100 in July 2026, down 1.1% year-over-year. The most recent full city-level breakdown shows a market split by property type: Calgary’s benchmark was $565,600 in March (down more than 4% YoY) while Edmonton’s benchmark sat at $417,400 in July (+0.3% YoY), with Edmonton’s average sale price at $470,819 in March. Alberta’s unique advantage — no land transfer tax and no provincial sales tax — means more of your savings go directly to your down payment regardless of which city you choose.

Alberta affordability by property type

Provincial MLS HPI benchmark data — July 2026:

Property Type Alberta Benchmark Price YoY Down (20%) Income Needed Monthly Payment
Apartment $266,800 -6.8% $53,360 ~$68,000 $1,107
Townhouse $379,800 -4.3% $75,960 ~$88,000 $1,576
Provincial Composite $508,100 -1.1% $101,620 ~$118,000 $2,109
Single-Family $607,000 -0.8% $121,400 ~$141,000 $2,519

Single-family homes are holding up far better than townhouses and apartments, which are declining faster — the opposite pattern from Ontario, where all property types are falling at a similar pace.

Alberta’s split market: why detached and apartments tell different stories

Alberta isn’t one housing market right now — it’s at least two, moving in opposite directions. In Calgary, detached homes have only about 2 months of supply, a seller’s market condition (a sales-to-new-listings ratio of 61% in March) that has kept detached prices comparatively resilient at -3% year-over-year. Calgary apartments, meanwhile, sit at nearly 5 months of supply with inventory approaching levels last seen during the 2008 financial crisis, driving the apartment benchmark down more than 9% year-over-year. Edmonton is moving toward balanced conditions across the board as inventory has risen 34.6% year-over-year, giving buyers there more selection and negotiating room regardless of property type. The practical takeaway: if you’re flexible on property type in Calgary specifically, apartments currently offer dramatically more affordability and negotiating leverage than detached homes, which remain competitive despite the broader provincial cooldown.

What your income buys across Alberta

City Benchmark/Average Price YoY Income Needed (20% DP) Market Condition
Edmonton (benchmark, July 2026) $417,400 +0.3% ~$97,000 Shifting to balanced
Edmonton (average, March 2026) $470,819 +2.2% ~$110,000 Shifting to balanced
Provincial Composite $508,100 -1.1% ~$118,000 Mixed by property type
Airdrie $512,800 -5%+ ~$119,000 Cooling
Cochrane $561,200 -4% ~$131,000 Cooling
Calgary (benchmark, March 2026) $565,600 -4%+ ~$131,000 Detached tight, apartments soft
Okotoks $618,100 -1% ~$144,000 More resilient

Calgary’s commuter towns — Airdrie, Cochrane, and Okotoks — track close to or above the city itself, with Okotoks proving the most resilient of the three (down only about 1% year-over-year versus Airdrie’s 5%+ decline).

Alberta’s closing cost advantage

Alberta has the lowest closing costs of any province. Compare buying the provincial average:

Cost Alberta Ontario BC
Land transfer tax ~$300 (registration) $6,675 $7,260
Provincial sales tax None 8% (on services) 7% PST
Typical total closing costs $3,000–$5,000 $12,000–$18,000 $12,000–$16,000

Savings: $9,000–$13,000 vs Ontario on the same purchase price.

Alberta market conditions

Metric July 2026 (HPI benchmark) Most Recent Full Breakdown
Provincial composite $508,100 (-1.1% YoY) —
Single-family $607,000 (-0.8% YoY) —
Townhouse $379,800 (-4.3% YoY) —
Apartment $266,800 (-6.8% YoY) —
Calgary benchmark — $565,600 (March 2026, -4%+ YoY)
Calgary months of supply — ~2 (detached) to ~5 (apartments)
Edmonton average — $470,819 (March 2026, +2.2% YoY)
Edmonton months of supply — 2.9, rising toward balanced

Calgary and Edmonton are diverging: Calgary’s detached segment stays tight (seller’s market) while its apartments soften considerably, whereas Edmonton is moving toward balanced conditions across all property types as inventory climbs. See the Alberta housing market report for the full monthly breakdown.

Tips for Alberta homebuyers

  1. Your closing cost savings are real — Put the $9,000+ you’d save vs Ontario toward a larger down payment
  2. Edmonton vs Calgary — Edmonton’s average ($470,819) is roughly $95,000 cheaper than Calgary’s benchmark ($565,600)
  3. In Calgary, property type matters more than budget — apartments offer far more negotiating room than detached homes right now
  4. Commuter towns track close to Calgary — Airdrie and Cochrane are only modestly cheaper; Okotoks is holding value better than all three
  5. Edmonton’s rising inventory favours buyers — active listings up 34.6% year-over-year means more selection and negotiating power
  6. Compare local lenders — ATB Financial and Servus Credit Union compete with big banks

First-time buyer programs in Alberta

Program Benefit Notes
No land transfer tax Saves $4,000–$20,000+ Alberta’s biggest FTB advantage
FHSA Up to $40,000 tax-free savings $8,000/year contribution limit
RRSP Home Buyers’ Plan Up to $60,000/person ($120,000/couple) Repay over 15 years
CMHC insurance 5% minimum down on homes under $1.5M Competitive on Calgary/Edmonton average
GST New Housing Rebate Partial GST rebate on new construction Alberta has no PST (only 5% GST applies)

Alberta’s no-LTT environment is the province’s most significant first-time buyer benefit. A first-time buyer purchasing the current Calgary benchmark home ($565,600) saves approximately $8,500–$9,000 in LTT compared to an equivalent purchase in Ontario.