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Edmonton Mortgage Affordability Calculator (Updated August 2026)

Updated

Maximum Home Price

How much house can you afford in Edmonton?

Greater Edmonton Area (GEA) average home price is $470,819 as of March 2026, up 2.2% year-over-year. The MLS HPI composite benchmark was $417,400 in July 2026 (+0.3% YoY), with single-family homes leading gains (+1.0%) while townhouses (-2.2%) and apartments (-1.8%) softened. With active inventory up 31.6% year-over-year and sales down 14.0%, Edmonton is a balanced market across every property type – a notably different pattern from Calgary, where conditions are split sharply between a tight detached segment and a soft apartment segment.

Edmonton affordability by property type

Property Type GEA Average (March 2026) YoY Income Required (20% DP)
Apartment Condo $212,054 -2.8% $59,775
Row/Townhouse $307,666 -2.2% $78,188
Semi-Detached $436,997 +1.6% $103,088
All Residential $470,819 +2.2% $109,613
Detached $590,162 +2.5% $132,638

Income assumes 3.89% rate, 25-year amortization, 32% GDS, $354/mo tax, $150/mo heat.

Edmonton vs Calgary: two different kinds of market right now

Both Alberta cities have healthy inventory growth, but the pattern underneath is different. In Calgary, the growth is concentrated in apartments (4.9 months of supply, benchmark down 8.37% YoY) while detached stays tight (2.9 months, nearly flat). In Edmonton, inventory is up broadly (+31.6% YoY) without one property type standing out – detached and semi-detached are still gaining modestly (+2.5% and +1.6%) while townhouse and apartment prices have eased only slightly (-2.2% and -2.8%). The practical difference: a Calgary buyer’s negotiating power depends heavily on which property type they want, while an Edmonton buyer gets more consistent, broad-based negotiating room regardless of property type.

Edmonton neighbourhood price ranges

Area Price Range Character
Downtown/Oliver $200,000–$250,000 Condos, urban walkable
Old Strathcona/Garneau $400,000–$700,000 Character detached, university area
SW (Windermere, Keswick) $500,000–$750,000 New builds, family communities
West (Glenora, Crestwood) $500,000–$1M+ Premium established

Downtown condos from $200K make Edmonton one of the most accessible urban cores in Canada. A $60K income covers the average apartment.

Edmonton vs Calgary – the Alberta comparison

Factor Edmonton Calgary Difference
Average price $470,819 $629,855 Edmonton $159K cheaper
Detached avg $590,162 $799,229 Edmonton $209K cheaper
Condo avg $212,054 $334,200 Edmonton $122K cheaper
Income needed (avg) $109,613 $140,245 Edmonton $31K less
Transfer tax ~$200 ~$200 Same
Market pattern Broadly balanced Split by property type Different dynamics

Edmonton wins on every price metric. Calgary’s premium reflects its energy-sector headquarters, mountain proximity, and stronger recent migration.

Edmonton vs Toronto/Vancouver

Cost Factor Edmonton Toronto Vancouver
Average home $470,819 $1,003,956 $1,088,800
Income required $109,613 $212,318 $228,664
Transfer tax ~$200 ~$30,958 ~$19,800
Income savings — $102,705/yr $119,051/yr

Ontario’s LTT on a $470,819 home would be roughly $5,800. Toronto’s combined LTT on its average home is over $30,000. In Edmonton, it’s about $200.

Edmonton rent data

For those comparing renting vs buying, the most recently available data showed average rents of $1,117 for a 1-bedroom and $1,820 for a 2-bedroom:

Type Monthly Rent Annual Buy Equivalent (condo)
1-bedroom $1,117 $13,404 Condo mortgage ~$950/mo at $200K
2-bedroom $1,820 $21,840 Condo mortgage ~$1,100/mo at $250K

At current condo prices, buying can cost less per month than renting in Edmonton – one of the few major Canadian cities where this is true.

Edmonton market conditions – March 2026

Metric Value
Average price (GEA) $470,819 (+2.2% YoY)
Benchmark (July 2026) $417,400 (+0.3% YoY)
Total sales 2,133 (-14.0% YoY)
New listings 3,809 (+4.2% YoY)
Active inventory ~6,200 (+31.6% YoY)
Sales-to-new-listings ratio 56%
Market condition Balanced across all property types

See the Edmonton housing market report for the latest.

Tips for Edmonton homebuyers

  1. No LTT saves thousands – Money you don’t spend on tax can go to your down payment
  2. Condos: buy vs rent – At $200K, mortgage payments can be lower than renting
  3. Broad-based negotiating room – Unlike Calgary, Edmonton’s softening isn’t concentrated in one property type
  4. $31K/yr less income than Calgary – Same Alberta advantages at a lower price point
  5. Inventory is building – +31.6% active listings means more choice and less urgency
  6. Compare mortgage rates – Shop aggressively across national and local lenders

First-time buyer programs in Edmonton (Alberta)

Program Benefit Notes
No land transfer tax $0 LTT – saves thousands vs other provinces Biggest FTB advantage in Alberta
FHSA Up to $40,000 tax-deductible savings $8,000/year 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 Common for Edmonton detached
GST New Housing Rebate Partial rebate on new construction Only 5% GST (no PST in Alberta)

Edmonton’s average price of $470,819 with 20% down requires approximately $109,613 in gross household income – achievable for many dual-income Edmonton households, particularly in government, oil and gas, healthcare, and education sectors.