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Edmonton Mortgage Affordability Calculator

Updated

Maximum Home Price

How much house can you afford in Edmonton?

Greater Edmonton Area (GEA) average home price is $448,761 as of January 2026, up 2.4% year-over-year. City of Edmonton proper averages $420,000. The benchmark is $415,000 (-1.0% YoY). With 4.3 months of supply and a 46% SNLR, Edmonton is a balanced market.

Edmonton affordability by property type

Property Type GEA Average City Avg Median Income Required (20% DP)
Apartment Condo $225,671 $218,000 $200,000 $62,396
Row/Townhouse $296,227 $290,000 $291,000 $75,998
Semi-Detached $422,964 $418,000 $420,000 $100,410
All Types $448,761 $420,000 $430,000 $105,383
Detached $556,752 $535,000 $514,500 $126,195

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

The condo market is surging — apartment prices jumped 11.4% YoY, the strongest growth of any Edmonton 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 $62K income covers the average apartment.

Edmonton vs Calgary — the Alberta comparison

Factor Edmonton Calgary Difference
Average price $448,761 $627,776 Edmonton $179K cheaper
Detached avg $556,752 $807,186 Edmonton $250K cheaper
Condo avg $225,671 $355,934 Edmonton $130K cheaper
Income needed (avg) $105,383 $139,895 Edmonton $35K less
Transfer tax ~$200 ~$200 Same
Months of supply 4.3 3.2 Edmonton slightly more balanced

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 $448,761 $1,008,968 $1,206,180
Income required $105,383 $213,376 $230,944
Transfer tax ~$200 ~$31,000 ~$20,006
Income savings — $108,000/yr $125,000/yr

Ontario’s LTT on a $448,761 home would be ~$5,475. Toronto’s combined LTT would be >$9,150. In Edmonton, it’s ~$200.

Edmonton rent data — January 2026

For those comparing renting vs buying:

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 prices, buying a condo costs less per month than renting in Edmonton — one of the few cities where this is true.

Edmonton market conditions — January 2026

Metric Value
Average price (GEA) $448,761 (+2.4% YoY, -1.4% MoM)
Benchmark $415,000 (-1.0% YoY)
Total sales 1,151 (-28.0% YoY)
Active inventory 4,901 (+33.0% YoY)
Average DOM 59 days (+10 days)
SNLR 46%
Months of supply 4.3
Market condition Balanced

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 are lower than renting
  3. Rising condo market — +11.4% YoY. Entry point won’t stay this low forever
  4. $35K/yr less income than Calgary — Same Alberta advantages at a lower price point
  5. Inventory is building — +33% active listings means more choice and less urgency
  6. Compare mortgage rates — Shop aggressively across national and local lenders