Estimate your monthly mortgage payment based on Calgary home prices. Calgary offers strong value compared to Toronto and Vancouver — no land transfer tax, no PST, and average home prices roughly half of what you’d pay in Canada’s most expensive cities.
The average home price in Calgary is approximately $580,000. With a minimum down payment of $33,000 (a 94.3% loan-to-value, which falls in CMHC’s 4.00% premium band), the total mortgage would be approximately $568,880. At a 4.25% interest rate over 25 years, the monthly mortgage payment would be $3,070.
5-year term summary:
25-year summary:
Calgary mortgage payment examples
| Home Price | Down Payment | Mortgage + CMHC | Monthly at 4% | Monthly at 5% | Monthly at 6% |
|---|---|---|---|---|---|
| $300,000 | $30,000 | $278,370 | $1,464 | $1,619 | $1,781 |
| $400,000 | $40,000 | $371,160 | $1,952 | $2,159 | $2,375 |
| $500,000 | $50,000 | $463,950 | $2,440 | $2,698 | $2,968 |
| $580,000 | $58,000 | $538,182 | $2,831 | $3,130 | $3,443 |
| $700,000 | $90,000 | $628,910 | $3,308 | $3,658 | $4,024 |
| $900,000 | $115,000 | $809,335 | $4,257 | $4,707 | $5,178 |
Calgary vs. Toronto: Cost comparison
One of the most compelling reasons to buy in Calgary is the cost advantage over Toronto:
| Factor | Calgary ($580,000) | Toronto ($1,065,000) |
|---|---|---|
| Down payment (minimum) | $33,000 | $213,000 (20%) |
| Land transfer tax | ~$282 (reg. fee) | ~$35,550 (double LTT) |
| Monthly mortgage payment | ~$3,070 | ~$4,598 |
| Property taxes (annual) | ~$3,712 | ~$8,201 |
| PST/HST on new home | 5% GST only | 13% HST |
| Total first-year savings | ~$50,000+ |
No land transfer tax in Calgary
Calgary (and all of Alberta) charges no land transfer tax — just small registration fees:
- Title transfer fee: $50 + $2 per $5,000 of property value = ~$282 on a $580,000 home
- Mortgage registration fee: $50 + $1.50 per $5,000 of the mortgage amount = ~$214 on a $547,000 mortgage
Total: ~$496 compared to $8,075 in Ontario or $9,600 in BC on the same purchase price.
Calgary property tax rates
Calgary’s property tax rate is approximately 0.64%, which is competitive for a major Canadian city:
| Home Price | Annual Property Tax | Monthly Equivalent |
|---|---|---|
| $400,000 | $2,560 | $213 |
| $580,000 | $3,712 | $309 |
| $700,000 | $4,480 | $373 |
| $900,000 | $5,760 | $480 |
Calgary housing cost breakdown
| Cost Category | Typical Monthly Range |
|---|---|
| Mortgage payment (on average home) | $2,900 – $3,200 |
| Property taxes | $310 |
| Home insurance | $100 – $175 |
| Utilities & heating | $200 – $375 |
| Maintenance (1% of value/year) | $483 |
| Condo fees (if applicable) | $300 – $600 |
Total estimated for house: $3,993 – $4,543 Total estimated for condo: $3,810 – $4,660
Calgary housing by property type
| Property Type | Average Price | Monthly Payment (10% down, 4.25%) |
|---|---|---|
| Detached house | ~$680,000 | $3,405 |
| Semi/duplex | ~$550,000 | $2,754 |
| Townhouse/row | ~$400,000 | $2,003 |
| Condo apartment | ~$300,000 | $1,502 |
Calgary offers significantly more space and variety at every price point compared to Toronto and Vancouver.
Calgary-specific homebuyer considerations
- No PST — Albertans pay only 5% GST (not 13% HST like Ontario). On new construction, this saves thousands.
- Energy sector influence — Calgary’s housing market has historically been cyclical, tied to oil and gas prices. This can create buying opportunities during downturns.
- Growth from interprovincial migration — Calgary has seen strong population growth from Ontario and BC residents seeking affordability, driving prices up in recent years.
- Flood zones — Some Calgary neighbourhoods (particularly along the Bow and Elbow Rivers) are in flood-prone areas. Check flood maps and budget for potentially higher insurance.
- First Home Savings Account (FHSA) — See the FHSA calculator.
Calgary housing market overview
Calgary’s market offers diverse options across the city:
- Inner city — Higher prices ($600,000–$900,000+) with walkability and amenities.
- Northwest/Southwest — Popular family neighbourhoods ($550,000–$800,000).
- Southeast/Northeast — More affordable new communities ($400,000–$600,000).
- Airdrie / Cochrane / Okotoks — Satellite communities with lower prices ($400,000–$550,000).
For the latest data, see the Calgary housing market report.
Related calculators
- Alberta Registration Fee Calculator — No LTT, just small registration fees
- Alberta Mortgage Calculator — Provincial overview
- Edmonton Mortgage Calculator — Compare with Edmonton
- Mortgage Affordability Calculator — How much house can you afford?
- Closing Costs Calculator — Estimate all purchase costs