Edmonton city is known as the Gateway to North. This city is a staging point for the large-scale oil sand projects occurring in the north. Edmonton is an educational, cultural, and governmental center. Living in this city is less expensive and also has perks when it comes to rental pricing.
Average Housing Price in Edmonton:
Edmonton is quite an affordable city to live in. According to recent real estate statistics, the average housing price in the city is about 343,300. In 2020 this price was about $313,800 but has decreased to $320,800 in 2021. Row/duplex homes fell around 2.21% year over year, to an average amount of $333,215. So, if you are planning to buy a brand new house in Edmonton, it is time to actually narrow down your options.
Homes for sale in Edmonton:
Roughly about 30 percent of housing properties in the city were constructed after 2000, while many of the remaining homes were constructed in pre-1960 and also in the 1960s. In Edmonton, most of the dwellings are single detached houses while townhomes and small apartment buildings are also available in the housing stock of Edmonton.
About two-thirds of the housing properties in Edmonton are occupied by homeowners and the remaining are rented. Edmonton mainly consisted of four or more than four bedrooms and also three-bedroom homes.
If we talk about different architectural styles in Edmonton then this city provides three different construction styles to its residents. These housing styles include townhomes, condominiums, and detached homes. These are available at different costs.
The condo is a privately owned individual unit located within the community of other units. These units are owned by their residents. Townhomes are free-standing and give an impression of being a traditional house. The detached house is sometimes known as a single-family home.
What kind of houses can people afford in Edmonton?
Single-family and residential houses are available at 7508 GETTY GA NW 305, Edmonton, Alberta T5T7E6. These 1 bed, 1 bath, and 3 bed and 2 baths are available within the range of $400,000 to $600,000. The average sold price in the city is $81K which represents an average change of 46.6 percent.
There are almost 35 listings in Edmonton and about 16 homes are sold out during the last 28 days.
Cheapest neighborhood to live in Edmonton:
Are you looking for a fresh start in a new neighborhood of Edmonton that could actually be affordable?
Luckily, there are many affordable neighborhoods in the city that still offer an affordable cost of living. The cheapest neighborhood in Maple Ridge whose population is 1,976 and this neighborhood offers a 13 percent lower cost of living in Edmonton. The next cheapest neighborhood of the city is Westview village whose population is about 2,942 and the average cost of living here is about 12 percent lower than Edmonton. The next cheapest neighborhood of the city is Winterburn Industrial Area West and the cost of living here is 12 percent lower than in Edmonton.